IT security in the Middle East is projected to grow by 12 per cent over the next three years, as governments and financial institutions adopt advanced security solutions, according to market research company, RNCOS.

The study also shows that global spending on IT security is estimated to rise to $60 billion.

During Gitex Technology Week 2010, to be held at the Dubai International Convention and Exhibition Centre from October 17 to 21, leading vendors will showcase a range of the latest security products including IT security appliances, services and software.

“Security is a key focus area at this year’s Gitex Technology Week and will address the growing need for a safe and secure technology environment. The event also provides a strategic platform to discuss issues relating to security and keep businesses informed of the latest security technologies and trends,” said Trixee Loh, senior vice president, Dubai World Trade Centre, organiser of Gitex.

According to a recent study by security firm, Symantec, online deception and data theft have hit businesses hard. An estimated $5 billion has been filtered from small business bank accounts and credit cards alone. Cyber criminals are increasingly using malware, phishing schemes, database attacks and sophisticated software to steal information and transfer funds and assets.

Coupled with an increase in the number of online virus infections, there is an urgent need for businesses and corporate networks to have a stable and secure computing environment.

In June 2010, Kaspersky Labs reported that a total of 327,598,028 attempts were made to infect users’ computers worldwide, 26.8 per cent higher than the previous quarter. There is an exponential growth of online security threats as technology advances and online use increases.

“Everyone needs to be better educated about online threats and how to defend against them. This includes IT professionals defending today’s networks and the software developers who work alongside them,” added Tarek Kuzbari, managing director, Kaspersky Lab Middle East.-TradeArabia News Service