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Cyber crime 'costing Middle East $1 billion'

ABU DHABI, June 23, 2015

The Middle East IT sector is on track to register a year-on-year growth of 8 per cent against a backdrop of cyber crime which is costing the region up to $1 billion, said organisers of an upcoming cyber security event in Abu Dhabi, UAE.

The first Middle East Cyber Security Life event, organised by Comexposium and DG Consultants and to take place on February 16-18 201, will address the issues associated with the latest trends in technological development and IT security, attended by industry experts from around the world.

While the IT sector is set to grow, cloud computing, big data and people’s mobility are growing problems for the industry in the region, due to the rapid evolution in technology, companies are being encouraged to understand and implement changes, especially when it comes to cyber security.

Cyber attacks can take a variety of forms but the more recognisable formats include personal data theft, copyright infringement, fraud and virus sharing, and in more serious instances, attacks against government property and information.

“The event is set against a backdrop of increased advanced persistent threats, or APTs, which have significantly increased in the region in recent years,” said Fadi Saad, managing director for Comexposium in Middle East.

“This form of attack targets high-value information such as national defence, the financial industry and governments themselves. This attack gains access to a specific network, staying undetected for a long period of time while gathering information for the unauthorised individual, it’s therefore clear why the region is placing increased prominence on this particular type of threat.”

With over 500 participants expected for the three-day event, Comexposium and DG Consultants will combine their regional knowledge and cyber technology expertise to make this a must-attend IT platform in the Middle East. The event will welcome a range of CIOs, CISOs and CSOs from the UAE and the wider region including Egypt, Iran, Saudi Arabia, Kuwait and India.

“We have replicated our hugely successful event in France and brought it to Abu Dhabi to help address the cyber security issues that are becoming more prevalent in the IT industry around the world. Our aim is to develop this event into the number one event for senior managers within the IT security industry by providing a series of one-to-one meetings between sellers and decision makers,” added Saad.

“No system can ever be perfect, given the increasing pace and complexity of the threats and applications, networks and individual constantly changing, however it is how we defend and deal with such breaches that will define and shape the future of IT security.”

Based on the fundamentals of the Assises – a forum that gathers the biggest players in the world of cyber security, with one-to-one meetings between sellers and decision makers in IT, workshops and high level conferences as well as evening networking functions – Cyber Security Life event, will provide the Middle East with a unique concept of business meetings to address cyber issues in the industry. – TradeArabia News Service

Tags: abu dhabi | IT | Cyber crime |

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