DUBAI: Cybercrime attacks could double over the next two years and cost Saudi Arabia’s economy up to SR30 billion ($8 billion) by 2020, according to security experts who warn the Kingdom is the most targeted county in the GCC for online fraudsters.
While Saudi Arabia is stepping up the war against cybercrime, the Kingdom must invest in training its own security professionals, expand its pool of skilled workers and strengthen its cybersecurity regulation to become more resilient against emerging attacks.
“Based on our relationship with key Saudi clients, we see that cybercrime in Saudi is growing faster than in most of the countries in the world, with more than a 35 percent increase in the number of attacks during the past year,” said Simone Vernacchia, a partner in Digital, CyberSecurity, Resilience and Infrastructure for PWC Middle East.
“Based on our experience in the GCC, Saudi is being targeted more frequently, and the cost of cyberattacks is 6 to 8 percent higher than in the rest of the GCC countries. The Saudi economy provides a more appealing target for cyberattackers.”
Vernacchia said it can be difficult to measure the true direct and indirect cost on Saudi Arabia’s economy each year.
“This said, we would expect direct and indirect costs arising from cyberattacks to total $3 to $4 billion (SR11.25 billion to SR15 billion) for 2018,” said Vernacchia.
“Assuming the growth will not be affected by large-scale events, we expect the direct and indirect impact of cyberattacks to grow up to $6 to $8 billion (SR22.5 billion to SR30 billion) by 2020. Among the major external events that can affect this figure, uncertainties in the region can result in an even more aggressive surge of cyberattacks.”
Vernacchia said there was a lack of willpower in organizations to invest in security measures, and urged them to invest in the manpower and technology that will enable them to become more resilient in the face of growing attacks. While Saudi is “not completely unprepared,” most businesses in the Kingdom are investing in cybersecurity far less than the leading countries.
“We see the average investment in cybersecurity awareness and capability to be on average about 60 percent lower in Saudi Arabia than what is invested by organizations of the same size in leading countries.
“This is a result of limited regulatory requirements for private entities, as private companies are trading the immediate benefit of spending less on cybersecurity protection with the high cost of one — or more — potentially highly effective targeted cyberattacks.”
An increase in cybersecurity regulation could also strongly limit the growth of cyberattacks, Vernacchia said. “The limited amount of cybersecurity-related regulation is a key issue, as it’s having two key effects. On one hand, some businesses are underestimating their exposure, and thus not investing in cybersecurity as they should — de facto increasing their risk. Other businesses are waiting for regulation to be drafted before investing in cybersecurity, in fear that the organization, processes and solutions they would implement may not be in line with the regulatory requirements which are coming.”
Amir Kolahzadeh, CEO of cybersecurity firm ITSEC, said Saudi-based business are reluctant to invest in adequate cybersecurity measures as they fail to recognize the long-term value of the initial investment needed.
“The core issues that every business is looking at in cybersecurity is a line item expense instead of looking what the cost would be if there is a breach,” he said. “This is a worldwide epidemic at the moment. However, it is much more evident in the GCC due to lack of truly trained IT security professionals who can show the business acumen, foresight and the communication skills to demonstrate that potential losses are exponentially greater than the cost of securing the enterprise.”
David Michaux, of online security company Whispering Bell, said as Saudi Arabia forges ahead with its knowledge-based economy and becomes “more online,” the potential for attacks will grow.
With Saudi Arabia’s Vision 2030 of a “knowledge economy,” growth in the ICT will be fueled by digitization — including IT innovation, big data projects, smart city initiatives, and cloud-based services. In addition, Saudis are among the most active social media users in the world — and largest adopters of Twitter in the Arab region.
Mathivanan V., vice president of ManageEngine, said while Saudi Arabia has taken “significant steps” to achieve cyber-readiness, including the introduction of the National Authority of Cyber Security which aims to enhance the protection of networks, IT systems, and data through regulatory and operational tasks, he warned that sophisticated cyberthreats have evolved in the wake of digitization and urged companies to better employ sustainable IT practices and state-of-the-art cybersecurity tools.
“A trained security professional cannot win the battle against cybercrime with just a mere knowledge of IT security,” he said. “What he needs is the right weapon to master the art of cybersecurity.”
James Lyne, head of R&D at SANS Institute, which specializes in information security, said given Saudi Arabia’s visible agenda to lead the charge in smart cities, connected industry and to develop a knowledge economy, it is key that the Kingdom also has an equally ambitious cybersecurity skills strategy.
“A gap between the two will lead to substantial attacks and reputation damage for the region,” he said.
“Firstly, Saudi Arabia needs more cybersecurity practitioners overall — particularly with the ambitious development projects being undertaken as part of the Kingdom’s 2030 Vision. Secondly, existing cybersecurity practitioners also have to continue to sharpen their skills to increase the depth of their expertise.”
He urged companies not to ignore the fact that employee behavior is a weak link in cybersecurity and is becoming an increasing source of risk.
“Many of the breaches that occur still take advantage of basic cybersecurity failures and, as such, education has to be a huge part of the solution. Everyone in Saudi Arabia has a role to play in making sure that cybercriminals get fewer clicks on their nasty emails, documents and phishing links.”
He said it was difficult to truly grasp the overall financial figures associated with cybercrime.
“That said, even the tip of the iceberg that we do see is very substantial and it has already been demonstrated that Saudi Arabia is a major target. Given attackers have already had success compromising facilities, it is extremely likely other cybercriminals will follow.”
KSA must become more resilient against cyberattacks
KSA must become more resilient against cyberattacks
- Healthcare data is of particular interest to hackers because it can be used to blackmail people in positions of power
- A trained security professional cannot win the battle against cybercrime with just a mere knowledge of IT security
Music, art, local dishes stir the senses at Diriyah’s Ramadan market
- Live cooking, henna stations, oud and piano performers among the activities and entertainment at the market
RIYADH: Music, food and art are the sense-stirring offerings at Diriyah’s JAX Ramadan Market, which opened this week.
The Diriyah Contemporary Art Biennale is hosting the market as a part of the “Layali Biennale” program.
“The (JAX Ramadan) market is such a cute idea ... the atmosphere, the music, the food, the people all of it is such a fun vibe for Ramadan nights,” Jood Marzouqi, a visitor, told Arab News.
The JAX Ramadan Market is open to the public from 8:30 p.m. to 2 a.m., until April 1, and offers visitors a taste of local Ramadan favorites with a modern twist.
Bateel Ismail, the food and beverage lead of the Diriyah Biennale Foundation, told Arab News: “The JAX Ramadan Market has seven main selections of hot stations for live-cooking food and eight stations for other miscellaneous cuisines and products including chocolates, dates, tea, cheese, and specialty crackers.
“We also present a henna station and live activities for families.”
Ismail said: “We curated a diverse range of businesses that offer unique and high-quality products. We also considered factors such as the authenticity of the products, the cultural significance, and the ability to provide a delightful experience for visitors.
“The goal was to create a vibrant and enjoyable market that showcases the best of Ramadan’s most famous food.”
The market featured live oud and piano performances for guests to enjoy while shopping.
To foster Ramadan’s community spirit, the market has set up a long table where guests can sit together to eat and chat.
One of the booths named Balila Al-Hijaz offers boiled chickpeas with toppings of pickles and spices including cumin.
A variety of stuffed dates can be found at several booths including The Flavors of Hijaz and Musa & Palm. On the dessert side, Najd Luqaimat has fried dough balls stuffed with cheese, drizzled with honey, chocolate or other syrups.
Visitor Marzouqi said the market captures the spirit of the holy month. “I grew up in Jeddah. Having food with friends and hanging out, was our most memorable tradition during Ramadan in Jeddah.”
She added: “Since I’ve moved to Riyadh, I started missing that, and I heard about this market; and honestly it feels similar to Jeddah. It’s a little different but the vibes, atmosphere and energy truly remind me of a Ramadan back home.”
When asked, Marzouqi said her favorite booth was “definitely the Flavors of Hijaz.”
“I wish it (the market) was bigger. The space is smaller than I expected, but it’s still a fun activity for Ramadan nights.”
Also at the market, The Truffleers, a Saudi Arabia luxury chocolate truffle company, featured several varieties of their products including salted-butter caramel truffles, pure chocolate truffles, Arabian coffee beans, and cookie crisps.
The Truffleers was launched three years ago in Dhahran and has now expanded across the Kingdom.
Wijdan Hussein, operations manager of The Truffleers, told Arab News: “We have seven locations within the Kingdom and we are participating in events such as the JAX Ramadan Market. We are showcasing our chocolate truffle products.
“Our participation in the market today has been very nice, the atmosphere is wonderful, and everything is very beautiful.”
Another booth featuring handmade Saudi Arabia desserts is Okay by Sara, a sweets company that displays their take on ghorayebah, a type of local butter cookie.
Afnan Mahmoud, a sales representative from Okay by Sara, said: “All of our desserts are handmade and come in different designs, based on the occasion you have. For example, if you order dessert for the occasion of Ramadan or any celebration we will specialize it and design it for you.”
Saudi Arabia’s KSrelief donates tons of dates and food aid to families in need
RIYADH: Saudi aid agency KSrelief has donated 40 tons of dates to Malaysia and Poland, the Saudi Press Agency reported on Thursday.
In Warsaw, Poland, 15 tons of dates were handed over, while in Malaysia a further 23 tonnes were distributed as part of the agency’s ongoing work to assist those most in need.
On Wednesday, meanwhile, the Saudi Ministry of Islamic Affairs, Dawah and Guidance launched the Kingdom’s gift program to distribute dates and iftar meals in Amman, Jordan.
The first stage involves the delivery of approximately 5 tons of dates to more than 20,000 people.
The second part of the program aims to provide iftar meals to over 7,000 people.
KSrelief also provided 2,900 food aid parcels to Montenegro, Bangladesh, Pakistan, Benin and Sudan, benefiting 14,275 people.
Crown prince receives governors of Saudi regions
RIYADH: Saudi Arabia’s Crown Prince Mohammed bin Salman has received governors of the Kingdom’s regions following their 31st annual meeting, the Saudi Press Agency said early Thursday.
The Crown Prince was briefed on the most prominent topics discussed at the annual meeting.
He commended the governors’ efforts to serve the country, citizens and residents, and their work to achieve comprehensive development.
Saudi Arabia to host conference on role of universities in promoting peaceful coexistence
- The event will take place at Imam Mohammad Ibn Saud Islamic University on April 28 and 29
RIYADH: Imam Mohammad Ibn Saud Islamic University in Riyadh will host an international conference next month titled “The Role of Universities in Promoting the Values of National Belonging and Peaceful Coexistence.” It will take place on April 28 and 29 under the patronage of King Salman.
Ahmed bin Salem Al-Ameri, the president of the university, thanked the king for his support and said the aim of the event is to “highlight the experiences of universities in promoting these lofty values, and to demonstrate the importance of correct doctrine and the approach of moderation,” the Saudi Press agency reported on Wednesday.
The participants will include leaders, dignitaries, scholars and intellectuals from the Kingdom and other countries, he added, who will share their specialist legal, scientific and social expertise during lectures, discussion sessions and workshops.
Weather warnings issued across Saudi Arabia until Monday
RIYADH: Members of the public have been urged to exercise caution over the coming days as weather warnings have been issued in several regions across Saudi Arabia.
The General Directorate of Civil Defense said there could be thunderstorms from Thursday to Monday, the Saudi Press Agency reported.
Moderate to heavy rain, leading to torrential rain, hail and high wind, has been forecast for Makkah region, including the Holy Capital, Al-Jumum, Al-Kamil, Bahra, Khulais, Taif, Maysan, Adham, Al-Ardiyat, Tarbah, Raniyah, Al-Muwayh, and Al-Khurmah.
The Riyadh region will be affected by similar weather conditions, including the capital, Diriyah, Afif, Al-Dawadmi. Al-Quwayiyah, Al-Majma’ah, Thadiq, Marrat, Al-Ghat, Al-Zulfi, Shaqraa, Rumah, Huraymila, Darma, Al-Muzahmiyah, Al-Kharj, Wadi Al-Dawasir, Al-Salil, Al-Aflaj, Hotat Bani Tamim and Al-Hareeq.
The same has been forecast for the regions of Jazan, Asir, Al-Baha, Madinah, Tabuk, Al-Jawf, the Northern Border, Hail, Al-Qassim, and the Eastern Province.
Some parts of Makkah region, including Jeddah, Rabigh, Al-Laith, Al-Qunfudhah, will be affected by moderate rainfall that may lead to torrential rain, hail and high winds.
Some areas in the regions of Jazan, Najran and the Eastern Province will be affected by light to medium rain and active downward winds that raise dust and dirt, the authority added.
The directorate called on the public to stay safe and away from places which could be affected by floods or become swamped. It urged people not to swim in such places as this would be dangerous, and to adhere to any instructions issued through the media or social media networks.