The GCC is at a critical juncture, facing the dual challenge of embracing blockchain innovation while combating crypto crime, says Nicola Buonanno of Chainalysis.

LONDON, UK - An international operation led by UK and US law enforcement has severely disrupted "the world's most harmful cybercrime group", the Russian-linked ransomware specialist LockBit, officials announced on Tuesday. LockBit and its affiliates have targeted governments, major companies, schools and hospitals, causing billions of dollars of damage and extracting...

The cryptocurrency sector recorded a promising recovery in 2023, with a significant decline in crypto scams and stolen funds revenue, says a latest report.

The cyber insurance industry will persistently evolve as the threat landscape expands. As the criteria for insurability rise, enterprises shouldn't merely strive to meet the minimum standard but should also aim to exceed it with a comprehensive approach to data protection, adds Russell.

As GCC leads in digital innovations, there's an urgent need for strong cybersecurity to combat increasingly complex threats targeting governments, businesses, and individuals.

A solid Data Protection and Ransomware Recovery strategy includes several components, such as Data Identification and Flow Management, Data Risk Management, Cybersecurity Management, and real-time Monitoring and Review. Thus, a comprehensive strategy ensures that you’re protected, and resilient in the event of a ransomware attack, he adds.

Government bodies are now working towards finding solutions to the problem but businesses, beside devising strong backup strategies, need to invest in ransomware prevention to protect themselves from huge financial damage and the possibility of financing further crime, adds Weijdema.

Rising cyber attacks on network infrastructure in countries across the world, which pose a significant threat to the economies of these countries, will be the focus of the 10th edition of MENA Information Security Conference (ISC) 2022 in Riyadh in September this year. MENA ISC is one of the most...

Top cyber security experts speak to TRENDS about primary threats to critical infrastructure providers and how to build effective defenses.

A 2021 report by McAfee estimates the monetary loss from cybercrime globally to be approximately $945 billion. When you add to this the global cost of cybersecurity products, the world is facing an annual loss in excess of $1 trillion, he adds.

Compared to Europe and US, cyber insurance is a profitable proposition for GCC firms due to amenable market factors such as low litigation environment.

Companies are hemorrhaging millions of dollars to ongoing ransomware raids, with threat actors further weaponizing the attacks.

New data out Friday showed $590 million in ransomware-related payments were reported to US authorities in the first half of 2021 alone, setting a pace to beat totals for the whole previous decade as cyber-extortion booms.

Now, security solutions provider Trend Micro has said that detected millions of “security events” in Linux distributions — both in PC and server versions — in recent years.

Cyber criminals have targeted an organization in UAE 295 times per week on an average in the last six months. Banking and finance sector bears the brunt.

A US IT company urges customers to shut down their servers after the attack UN Security Council members recently warned against ransomware attacks A US IT company urged customers to shut down their servers Friday after cyberattackers smuggled ransomware onto its network platform Kaseya said Friday evening that it had...