CYBER-CRIMINALS TARGET GULF ECONOMIES: UAE AND SAUDI ARABIA IN CROSSHAIRS OF DARKNET DATA TRADE

Sat 28 September 2024:

A recent study by Positive Technologies, a leading global provider of cybersecurity solutions, has exposed a surge in cyber-criminal activity targeting the Middle East, with a particular focus on the United Arab Emirates (UAE) and Saudi Arabia. These two nations, the largest economies in the region, have become prime targets for hackers exploiting sensitive data and infiltrating critical infrastructures.

According to the report, the UAE accounts for 40 per cent of posts on darknet forums related to the sale of compromised data and illicit access to local businesses, while Saudi Arabia makes up 26 per cent. The cyber-criminals are capitalising on the region’s digital expansion, selling everything from stolen financial data to unauthorised access to corporate systems.

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Positive Technologies, renowned for its expertise in identifying and mitigating cyber threats, conducted an in-depth investigation into the shadowy marketplace of cyber-criminal services. Their findings highlight the growing demand for hacking services aimed at Gulf financial institutions and critical sectors like energy, raising serious concerns about the region’s cybersecurity vulnerabilities.

Experts from Positive Technologies stress that these activities pose significant risks to the economies and infrastructures of the Gulf, particularly as cyber-criminals evolve and become more sophisticated. The study urges the UAE and Saudi Arabia to bolster their cyber defences and calls for greater regional cooperation in combating these threats.

While both governments have begun to strengthen their cybersecurity frameworks, the report emphasizes that more needs to be done to protect businesses and institutions from large-scale breaches. Without a coordinated effort, the Gulf region will remain a lucrative target for cyber-criminals thriving in the darknet underworld.

-MEMO

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