A new global industry report has revealed cyber security threats posed to organizations in Saudi Arabia. According to the report, over 95% of Saudi Arabian organizations experienced business-impacting cyber attacks in the past 12 months.
More than 800 global business leaders and cyber security experts took part in the survey. It was conducted by Forrester Consulting and included 49 respondents in Saudi Arabia.
As per the report:
- 85% of respondents in Saudi Arabia witnessed a dramatic rise in business-impacting cyber attacks over the past two years.
- These attacks had huge damaging effects with organizations reporting:
- 41% of customer and/or employee data loss
- 37% of ransomware payments
- 35% of financial loss or theft
- 61% of security leaders in Saudi Arabia reported these cyber attacks also involved operational technology systems.
Cyber Security Threats to Organizations in Saudi Arabia
The new industry report has brought forward the reality of cyber security postures of several organizations across the globe. The report stated that business leaders want a clear vision of risk level. They want to know about how that risk is changing as they plan and implement business strategies.
But only 4 out of 10 Saudi security leaders said that they can answer with high-level confidence to the fundamental question, “How secure, or at risk, are we?”. And that too despite the prevalence of business-impacting cyber attacks.
Besides that, less than 50% of security leaders, who participated in the study, said that they are framing these cyber threats within the context of specific business risk.
For example, 96% of respondents had created response strategies to the COVID-19 pandemic. But 75% of business and security leaders admitted that their response strategies were only “somewhat” aligned.
How to Reduce the Risk of Cyber Attack?
Security leaders and IT decision-makers must ensure that cyber security policies and solutions are embedded in the organization. The security research in the report revealed that a lack of cyber security awareness could be the reason for the high number of successful cyber attacks in Saudi Arabia.
It is high time to consider investing in cyber security tools and solutions to stay protected against the ever-evolving cyber attacks. Especially, seeing the current situation of the COVID-19 pandemic, every CISO, CIO, CXO, and CEO must keep cyber security on the priority.
Cyber criminals are relentlessly leveraging the pandemic situation to launch more sophisticated cyber attacks. They are coming up with new attempts to steal and compromise the data of organizations and put their brand reputation at stake.
As cyber security and email security service provider, we strongly recommend you to start implementing essential security measures in your organization. Here are some “must follow” cyber security practices for your organization:
- Train and educate employees with security awareness training primarily.
- Keep all systems and software updated with the latest security patches.
- Enforce robust password security practices and choose complex passwords for email access.
- Check the periodic email domain threat analysis to ensure its security.
- Secure your email domain with email authentication protocol tool KDMARC.
KDMARC is an email authentication and anti-spoofing solution. It monitors all three outbound email authentication protocols, DMARC, SPF, and DKIM. This tool helps in securing the organization against email-based attacks like email spoofing, spamming, and BEC attacks.
Here the key benefits of using KDMARC:
- Detects and defends against email spoofing
- Gives full insight into your email channels
- Increases the rate of email deliverability
- Detects and defends against email spoofing attacks
- Boosts the email engagement rate
- Identifies all the top sources abusing your domain
Click the button below to secure your email domain from spoofing for FREE with KDMARC!