Seventy percent of organizations in the Middle East believe their cloud security is lacking and could not stop an attack, higher than the global average of 63%. This vulnerability is concerning as organizations in Saudi Arabia and the UAE are accelerating their cloud adoption, with over three-quarters of organizations running high-value applications in the cloud and 98% storing sensitive data in the cloud. The combined cloud adoption in the UAE and Saudi Arabia is projected to grow at a compound annual growth rate of approximately 24% from 2022 to 2027. [de81d0e5]
Despite prioritizing cloud security, organizations in the Middle East remain worried about cloud breaches, with 46% fearing severe disruption to business operations. However, the lesson is not to slow down cloud deployment but to understand security controls and responsibilities. Attackers are targeting the cloud because it is where companies keep their critical assets. The average organization worldwide lost nearly $4.1 million to cloud breaches in the last year, while firms in Saudi Arabia and the UAE lost about $2.3 million. [de81d0e5]
Business and government leaders in the Middle East prioritize security when choosing a cloud provider. They understand the importance of robust security measures to protect their sensitive data and ensure business continuity. However, the survey highlights the need for organizations to enhance their cloud security capabilities and stay vigilant against potential breaches. [de81d0e5]
Organizations are adopting hybrid and multi-cloud strategies for cloud applications. The 2024 Cloud Security Report reveals that 78% of organizations use hybrid and multi-cloud approaches. Security and compliance issues, technical challenges, and resource constraints are barriers to faster adoption. A unified cloud security platform with a single dashboard is seen as a solution to achieve consistent and comprehensive data protection. Organizations plan to increase their cloud security budget by 37% to safeguard sensitive data and comply with regulatory standards. The lack of people with cloud security expertise is a concern, with 93% of respondents worried about the industry-wide skills shortage. [2d8b968d]
In a separate report, SecurityScorecard reveals that 90% of energy companies have experienced third-party data breaches. The research highlights the significant threat that the energy industry faces from attackers targeting an organization's vendor ecosystem. SecurityScorecard, which uses AI-powered data breach intelligence, analyzed over 2,000 third-party vendors and found that 4% of them had experienced data breaches themselves. Additionally, the report found that 98% of organizations use at least one third-party vendor that has experienced a data breach in the last two years. The cybersecurity profiles of the 48 largest energy companies in the United States, United Kingdom, France, Germany, and Italy were analyzed, covering sectors such as coal, oil, natural gas, and electricity. The lack of a common framework for measuring cyber-risk is highlighted as a concern, with transparency and information sharing about cybersecurity being crucial for national security. [de81d0e5]
Companies in the UAE have increased their budget for cybersecurity by as much as 35% as compared to the global surge of 30% over the past year. A study revealed that 7 out of 10 firms in the country fell victim to ransomware attacks in the last two years. The UAE has experienced more successful ransomware attacks than most of the 13 countermarkets, with 73% of organizations in the UAE experiencing a successful ransomware attack in the past two years, higher than the global percentage of 65%. Additionally, 52% of UAE organizations have experienced a loss of data in the same time period. The staffing of UAE data protection and data security teams has increased by an average of 14 to 16 people, compared to 21 to 22 globally. The report also highlights the importance of implementing strategies such as embracing a Zero Trust model, implementing strict access controls, continuous monitoring, and robust authentication mechanisms to safeguard digital identity amidst these challenges. [de81d0e5]
Recent developments in Chile’s cybersecurity infrastructure, including the inauguration of a central Security Operations Center, underline Latin America’s ongoing struggle with digital security and its implications for regional technological progress. The Chilean Undersecretary of Telecommunications, Claudio Araya, played a pivotal role in the opening of one of Chile’s largest Security Operations Centers (SOC), a Telefónica Tech initiative. At this facility, about 50,000 cyberattacks are registered monthly. Latin America’s journey through the digital age has been fraught with challenges. Rapid technological adoption has often outpaced the development of robust regulatory and protective measures, making the region a fertile ground for cyber threats. The implications of cybersecurity lapses are profound, extending beyond the immediate disruption of services and data theft. While establishing facilities like the SOC in Chile is commendable, it also underscores the need for a more proactive, rather than reactive, approach to cybersecurity in the region. Latin American countries must implement a comprehensive strategy involving substantial investment in cybersecurity infrastructure, widespread education and training programs, and robust collaboration between governments, private sector entities, and international partners. Failure to do so could leave the region perpetually playing catch-up in the ever-evolving cyber arms race. [d0eb5e36]
Cloud computing has its advantages and disadvantages. On one hand, it offers scalability, cost savings, and flexibility. On the other hand, it poses security and privacy concerns. The article discusses the benefits and drawbacks of cloud computing, highlighting the need for careful consideration and planning when adopting cloud solutions. It emphasizes the importance of understanding the specific requirements and potential risks associated with cloud computing. The author also mentions the increasing popularity of cloud computing and the growing number of organizations that are leveraging its benefits. Overall, the article provides a balanced view of the pros and cons of cloud computing. [cd2aa85d]