Here’s how organizations can protect their business from online scams

How do you see the cybersecurity landscape in the Middle East? Does digitization mean an increased risk of cybercrime?

The Middle East is home to some of the world’s largest financial and industrial centers and is experiencing a wave of rapid digitization. Naturally, this makes the region an attractive target for cybercriminals, including the financially motivated nation-state threat actors, as they profit from the large-scale migration caused by the pandemic to the online space. Regional organizations have experienced a scam with Group-IB analysts unveiling elaborate scam campaigns targeting the region. Additionally, we have identified growing threats to the UAE’s public and financial sectors, ranging from account compromise to the sale of compromised payment records issued by UAE banks, according to Threat Intelligence & System. Attribution (TI&A).

The number one cyber threat, ransomware, continues to increase. According to Group-IB data, at least 12 victims suffered publicly known ransomware attacks in the Middle East in 2020, most of them in the United Arab Emirates. Three ransomware gangs have released reports of successful attacks on UAE businesses in the second quarter of 2021. Currently, we don’t see any signs of ransomware slowing down. It is very important for businesses to study and understand the tactics, techniques, and procedures of ransomware operators, as most attacks against businesses are man-made. At Group-IB’s CyberCrimeCon 2021 event, taking place on December 2, we’ll be presenting a new look at the ransomware arena and talking more about how different gangs operate.

How does Group-IB help businesses improve their cybersecurity posture?

We are committed to reducing the impact of cybercrime in the region and beyond. To this end, we opened our Threat Intelligence & Research center in Dubai in May. We showcased our solutions for detecting and preventing cyber attacks, identifying online fraud, investigating high-tech crimes, and protecting intellectual property, to enable our customers and partners to navigate an increasingly threat landscape. complex and protect their assets. Our products and services are designed to provide tailored and comprehensive protection to our customers by leveraging our unique cyber intelligence, in-depth attack analysis and years of incident response and cyber investigations, including experts experienced people have conducted over 1,200 successful surveys worldwide. over 18 years old.

Can you tell us about your threat intelligence center in Dubai?

Our Threat Intelligence and Research Center has enabled more clients in the banking, government, insurance and energy sectors to take advantage of our organizational structure and our technology ecosystem which includes equally equally branched products and services. solid.

It not only functions as a sales center, but it is a large-scale regional headquarters offering all the basic technological skills. It houses all of the company’s key units: high-tech criminal investigations, Digital Forensics and Incident Response Laboratory (DFIR), Threat Intelligence, Security Assessment, Computer Emergency Response Team (CERT -GIB), threat and fraud hunting teams, digital risk protection service. , and other important divisions.

How can organizations protect their business from the risks of online scams?

The scale of fraudulent activity is increasing, placing new demands on the tools designed to combat it. Comprehensive digital risk protection should constantly monitor all digital assets and be able to discover and block the entire infrastructure of scammers, instead of managing individual links to phishing and scam resources. . Group-IB’s DRP technologies are based on the deep understanding of the logic and behavioral patterns of cybercriminals that our experts have accumulated in numerous high-tech crime investigations around the world.

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