More than 50 Per Cent of UAE-Based Companies Faces Ransomware Attacks

Mimecast, an email and collaboration security company, has unveiled its State of Ransomware Readiness 2 report, which states that ransomware has caused major damage to organisations around the world, including the Middle East.

The report reveals that 59% of cyber security executives in the UAE say cyber attacks have increased or remained the same over the past year, while 39% say ransomware has brought organisations to a halt.

Werno Gevers, a cybersecurity expert at Mimecast, reports that business and security executives perceive ransomware attacks as almost inevitable. He says nearly 75 per cent of businesses in the UAE were attacked by ransomware last year, exceeding the global average of 64 per cent.

These attacks resulted in a third of UAE cyber security teams experiencing increased absenteeism due to burnout following an attack, while 23 per cent saw changes in their management team due to a successful ransomware attack.

Ransomware attacks, according to the report, have impacted revenues for 44 per cent of organisations over the past twelve months. Meanwhile, nearly half (46 per cent) of cyber security professionals in the UAE are considering leaving their position in the next two years due to stress or burnout, and 73 per cent of cyber security executives in the region said their jobs have become more stressful each year.

According to Gevers, 94 per cent of global cybersecurity leaders believe that more budget is needed to combat ransomware. At the same time, 24 per cent of organisations in the UAE are demanding an 11 to 20 per cent increase in their annual cyber security budget.

It is also essential that leaders acknowledge that cyber risk is business risk and not leave the financial and personnel resource burden to only IT teams,

Gevers adds.

The State of Ransomware Readiness is a global survey of 1,100 cybersecurity decision makers from Australia, France, Canada, Germany, Netherlands, Northern Europe, Singapore, South Africa, UAE, UK and USA.