According to a new report, cyberattacks in the Middle East region are on the rise. The Middle East area—particularly the UAE—saw an increasing number of attacks in the last 6 Months leading to March 2019, as per to DarkMatter, a cybersecurity company based in the UAE. Specifically, those operations aimed the telecommunications, gas and oil sector, administrations and other critical infrastructure, stated the company, which recorded those events from October–March 2019. The report said, “Oil and gas especially—which is a pillar of the UAE’s financial system that is of strategic significance to the world—face the highest risks.” Actually, half of all cyberattacks in the Middle East region aim the oil and gas sector, as per to DarkMatter, which quoted findings from a Ponemon Institute and Siemens report.
Seemingly, cyber-espionage and sabotage are the main motives for groups carrying such attacks. Their preferred form of duping targets is by spear phishing, which is a system of sending emails from allegedly a trusted sender so as to trick them into disclosing information. DarkMatter emphasized seven attacks in the Middle East in the months heading to March 2019. One such attack—which was revealed on January 9—was conducted by using malicious Microsoft Excel documents having politically charged data in Arabic, as per to the report.
On a related note, recently it was found out that cost for every cyberattack jumped to $4.6 Million in 2019. The cost of cyberattacks jagged over $1.5 Million in the last year, going from $3 Million for every incident in 2018 to $4.6 Million in 2019. The cost breaches are becoming more common: the percentage costing $10 Million or more than that almost doubled to 13% this year from 7% in 2018. The report was compiled by researchers from Israel-based Radware.
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