middle east companies risk nearly usd 1 million
Last Updated : GMT 05:17:37
Emiratesvoice, emirates voice
Emiratesvoice, emirates voice
Last Updated : GMT 05:17:37
Emiratesvoice, emirates voice

In Ransomware Costs

Middle East Companies Risk Nearly USD 1 Million

Emiratesvoice, emirates voice

Emiratesvoice, emirates voice Middle East Companies Risk Nearly USD 1 Million

The average Middle East organization faces high risk
Dubai - Emirates Voice

The average Middle East organization faces high risk of ransomware attacks, which could cost nearly USD 1 million, industry experts commented today on the results of a report released ahead of GITEX Technology Week in Dubai.

Since the summer, hundreds of thousands of computers worldwide have been infected by the WannaCry ransomware, a malware that encrypts data and demands ransomware payment via Bitcoin currency, and the Petya ransomware, which encrypts the hard drive.

Worldwide, 30 percent of companies have had ransomware infections, causing massive costs in sales and productivity, according to a recent survey by Imperva for security firm RSA. Data loss costs an average business USD 914,000, according to Dell EMC. News reports saying one recent cyberattack cost a shipping company USD 300 million.

Cybersecurity experts label malware an “arms race”, as hackers develop increasingly complex malware, and security vendors counter with stronger technology defenses.

“WannaCry and Petya malware attacks are not isolated incidents – every Middle East CIO needs to be prepared for malware attacks increasing in quantity and complexity, or risk massive losses,” said Savitha Bhaskar, COO at UAE-based IT infrastructure and information management consultancy and solutions provider Condo Protego.

Among verticals, the services sector is at highest risk of ransomware attacks, bearing the burden of 38 percent of total attacks, according to a recent report by Symantec. Manufacturing, public administration, and finance and real estate also present high risk.

“The good news for Middle East CIOs is that most of them already have the technology solutions to fortify their cyber defenses. GITEX Technology Week provides the platform to educate Middle East CIOs on the importance of working with specialized cybersecurity channel partners. Partners and clients can reinvent systems and processes to prevent, mitigate, and restore their data, and enhance customer trust,” added Savitha Bhaskar.

Condo Protego has seen strong Middle East success in deploying data protection strategies centered on industry-leading Symantec and RSA solutions.

End-to-end data center security has intrusion detection, firewalls, whitelisting/blacklisting, rootkit protection, and execution protection. Advanced threat protection can fend off endpoint attacks, and security information event management (SIEM) has real-time cybersecurity analysis. Data backup and recovery solutions can restore infected systems.

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

middle east companies risk nearly usd 1 million middle east companies risk nearly usd 1 million

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

middle east companies risk nearly usd 1 million middle east companies risk nearly usd 1 million

 



GMT 15:05 2017 Thursday ,08 June

UAE Weather: Temperature set to touch 46°C today

GMT 09:21 2012 Friday ,13 April

Chances of rain in the UAE

GMT 18:01 2011 Saturday ,12 November

Masdar set to launch Seychelles wind farm by end-2011

GMT 17:11 2017 Sunday ,19 November

South Africa eyes 2023 Rugby World Cup

GMT 21:22 2017 Saturday ,10 June

Moroccan minister

GMT 07:28 2017 Tuesday ,07 November

Now,Dubai cafes introduce special food

GMT 12:38 2016 Monday ,14 November

2016 'very likely' hottest year on record

GMT 08:03 2017 Thursday ,02 November

Abdou blames targeting Khan Yonis

GMT 10:51 2017 Thursday ,23 March

Fire damages historic Ottoman mosque in Greece

GMT 05:14 2024 Wednesday ,07 February

Sophisticated Classic Dining Room Design Ideas

GMT 00:14 2017 Friday ,13 October

Army kills mercenaries in Kahbob, Lahj

GMT 19:04 2017 Thursday ,08 June

Qatar sympathisers in Bahrain to face fine, jail

GMT 14:29 2017 Wednesday ,02 August

Man City winger Navas returns to Sevilla

GMT 10:51 2017 Friday ,26 May

Labour Minister meets Thai envoy

GMT 19:56 2011 Wednesday ,24 August

Foreign investors keen on Bahrain

GMT 05:06 2017 Tuesday ,15 August

Speaker condoles with UAE

GMT 20:23 2017 Thursday ,07 September

Arab League condemns violence against Rohingya Muslims

GMT 09:58 2017 Wednesday ,31 May

Emirates Red Crescent signs agreement

GMT 10:23 2017 Saturday ,21 October

Yemeni official survived an armed ambush in Lahij

GMT 02:55 2016 Wednesday ,22 June

Serena battles rivals, self-doubt at Wimbledon

GMT 12:23 2017 Thursday ,09 February

Security consultant denies 'bugging' All Blacks

GMT 09:36 2016 Thursday ,07 July

Sacked Fox News host files sexual harassment suit

GMT 09:21 2015 Saturday ,05 December

British play to feature all 74 Shakespeare deaths
Emiratesvoice, emirates voice
 
 Emirates Voice Facebook,emirates voice facebook  Emirates Voice Twitter,emirates voice twitter Emirates Voice Rss,emirates voice rss  Emirates Voice Youtube,emirates voice youtube  Emirates Voice Youtube,emirates voice youtube

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

emiratesvoieen emiratesvoiceen emiratesvoiceen emiratesvoiceen
emiratesvoice emiratesvoice emiratesvoice
emiratesvoice
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
emiratesvoice, Emiratesvoice, Emiratesvoice