Cybercrime in the Middle East Costs $1 Billion

Business Events Technology

The first Middle East Cyber Security Life event, organised by Comexposium and DG Consultants and to take place on 16-18 February 2016 at Yas Island, Abu Dhabi, will address the issues associated with the latest trends in technological development and IT security, attended by industry experts from around the world.

According to analysts, the IT sector in the Middle East is set to grow by 8% in 2015. However, 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. Many users of supervisory control and data acquisition (SCADA) systems in the Middle East believe the cost of cybercrime to be in excess of US$1billion.

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

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.

“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” added Saad

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.

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