Why Leading Security Companies Like MVPTech are Stepping Up their Cybersecurity Measures?

Cybercriminals frequently target the UAE. Most leading UAE-based firms believe that only highly-advanced cybersecurity features can help them survive in this coming decade. Most of them are re-reviewing their cybersecurity strategies. They’re planning to significantly increase their cybersecurity budget over the next decade because:

· In 2019, 82% of UAE-based firms faced cyberattacks (at least one).

· 51% of UAE-based firms reported experiencing multiple cyberattacks.

· Account Takeover fraud (ATO) impacted 28% of these firms; account compromise believed to be UAE-based firm’s biggest cybersecurity threat over the decade.

· Distributed Denial of Service attacks and phishing are also two major threats faced by these firms.

The Outcome of these Attacks

Financial and data loss were the two most significant outcomes of these cybersecurity breaches for UAE-based firms. These firms expect a major drop in their customer-pulling abilities as a result of these persistent attacks. A common theme in most of these cyberattacks is the targeting of employees and civilians. Cybercriminals realize that targeting people is much easier than targeting infrastructure or digital programs. Of course, these hackers use stolen credentials and sensitive data to manipulate digital platforms. But, the main target in many of these attacks was unaware or uninformed people.

Some of the mistakes made by these employees and civilians include:

· Using weak passwords across several platforms.

· Mismanaging sensitive information.

· Failure to recognize phishing attacks and malware.

· Visiting malicious websites.  

Just between January 1st and March 31st in 2019, the UAE experienced 1.1 million phishing attacks. During the same period, over 23 million malware attacks were reported. Hence, spending on cybersecurity technologies is set to increase dramatically in this region. Experts expect the Middle Eastern cybersecurity market to be valued at over $66 billion by 2025.

How the Region’s Top Security Firms are Stepping Up?

Leading security firms in the UAE, like MVPTech, have stepped up their cybersecurity measures to help businesses that are most vulnerable to cyberattacks. The security company is making cybersecurity a priority, and it aims to convert every attempted cyberattack into an unsuccessful one. Artificial Intelligence-powered technical solutions are at the heart of the organization’s multifaceted cyber-defense strategies.

How AI-Powered Tools Will Help UAE-Based Firms Beat the Hackers?

AI-powered tools have shifted the ball in the courts of the country’s leading private and public organizations. Some of the best security systems in Dubai used in industries like telecom, finance, healthcare, commerce, etc., are now powered by AI.

These AI-powered cybersecurity tools help organizations gain an edge over the scammers because they offer -

· The tools profile and assess every client, customer, or even employee to make intelligent and real-time security recommendations.

· With these tools, businesses can now integrate virtual assistants into their standard security tools.

· AI-powered security systems enable businesses to conduct visual searches, track the actions of potential cybercriminals lingering on their business website, and facially recognize every employee leaving/entering their premises.

In this digital business age, maintaining security and compliance with only human effort or with yesterday’s technology is impossible. AI-powered security tools are making businesses future-proof!

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Created on Dec 7th 2020 00:44. Viewed 333 times.

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