Cyber attacks cost Gulf states $1 billion annually

In 2014, the UAE saw a 400 per cent rise in targeted attacks, reaching nearly five per cent of the global total.

Cyber crimes have the upper hand over cyber security worldwide, simply because insufficient security data and not enough people with the know-how in the field.

In the Gulf Arab states, cyber attacks targeting key installations cost an estimated $1 billion annually, and these do not take into account losses from hacker group’s attacks such as the Desert Falcons that target businesses.

Over 100 cyber security experts gathered in Abu Dhabi on Sunday to talk about the latest challenges of cyber security, during the one day UAE Security Forum, organised by the global technology and cyber security company Raytheon and the Arab Gulf States Institute in Washington. “We don’t have enough human talent for cyber security, so we can’t rival our adversaries; we try to subsidise the lack of talent with big efforts in managing security services or centralising information, For the full article click here 

from cyber security caucus http://ift.tt/1Vz2uAB
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