Cyberthreat in region: 8 firms' data is uploaded on dedicated weak websites every day

Ransomware operations remain top threat to companies across the world

by

Waheed Abbas

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Published: Tue 17 Jan 2023, 5:52 PM

Last updated: Tue 17 Jan 2023, 6:37 PM

Data of around eight companies from the region, on average, is uploaded onto dedicated leak websites every day, said a report.

According to Hi-Tech Crime Trends 2022-23 report released by global cybersecurity firm Group-IB, companies that had their information uploaded onto dedicated leak sites between the second half of 2021 and the first half of 2022 were up 22 per cent year-on-year to 2,886.


It further revealed that ransomware operations remained the top cyber threat to companies across the world between the second half of 2021 and H1 2022, not least in the Middle East and Africa (MEA).

The study found that 42 companies had their data, files, or information published on DLS following ransomware attacks in the Gulf region. Out of which, organisations in the UAE and Saudi Arabia experienced the majority of attacks, followed by Kuwait, Qatar, Oman, and Bahrain. In terms of industries, the energy, telecoms, IT and manufacturing sectors were frequently targeted.


“Ransomware is likely to remain the major threat for business and governments across the globe in 2023,” said Dmitry Volkov, CEO at Group-IB.

“Ransomware gangs have been able to craft a stable market for their criminal enterprises, and the ransom demands issued to companies once they have been attacked are continuing to rise rapidly. Many of the most prominent ransomware gangs have turned into criminal start-ups. They have a rigid hierarchy and bonuses for overachievement,” he added.

Meanwhile, a study released by Genetec showed that 36 per cent of IT and security professionals are looking to invest in cybersecurity-related tools to improve physical security in 2023.

It also found that 67 per cent of companies plan to invest in access control system (ACS) modernization this year.

Modern ACS include built-in cyber defences and health monitoring tools, and higher levels of automation. Upgrading to a modern, open ACS will help organizations better defend against cybersecurity threats, as well as enable new capabilities like mobile credentials, biometrics, and cloud-connected controllers and services, to implement over time.

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