October 14th, 2018
With the cyber world dominating our lives, cyberattacks represent a serious concern for organizations worldwide. Damage caused is not just limited to data (both personal and financial) but money, productivity and intellectual property as well. Global organizations worldwide will spend $101.6 billion annually on cyber security software, hardware and services by 2020 compared with spending of $100 billion in the last year, according to research from the International Data Corporation (IDC).
Everyone relies on critical infrastructure like power plants, banking, financial services, insurance, healthcare, retail , telecom, manufacturing and government where the threat landscape continues to evolve and securing these is essential to keeping our society functioning. Few of the recent cyberattack victims include – Zomato , British airlines, emirates airlines, Sony pictures to name a few.
Most common cyberattacks in the region currently, include ransomware, malware, virus, skimmers, crypto jacking, social engineering and phishing.
As technologies progress, the skills needed to deal with cyber-security needs are changing. The challenge is to train cyber-security professionals so that they can deal with threats as quickly as possible and also adapt their skills as needed because, according to a cyber-security ventures report, there will be some 3.5 million unfilled cyber-security roles by 2021. So it’s up to governments, universities, schools and businesses to collaborate in order to bridge this substantial skills gap.
It’s more important to prevent than protect by promoting awareness and accountability. As a part of its strategy to combat cyber-crime, the TRA says it has launched awareness campaigns, including lectures, seminars and workshops to promote cyber safety. It advises all concerned authorities and departments to create backup copies of their data, saving them on other devices that are not connected to the internet.
Email security and Archiving; threat intelligence and endpoint protection; two factor authentication; network monitoring and file auditing solutions; traditional enterprise security; data smart intelligence; SIEM and privilege account management are some of the cyber security solutions Mindfire Technologies offers to combat cyber-attacks.
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