Technology & IT | Wednesday 13 February, 2019 2:00 am |

Kaspersky Lab is participating in the Cyber Defense Summit taking place from February 13-15 at Riyadh International Convention & Exhibition Center, Saudi Arabia. Organized by New Horizon, the summit aims to tackle cyber security concerns, help regional organizations overcome major challenges, raise awareness and enhance national preparedness by exchanging industry best practices and knowledge sharing through its informative keynote sessions, panel discussions and workshops.

 

According to statistics from the Kaspersky Security Network in 2018, Saudi Arabia saw a substantial increase in cyberattacks with malware attacks increasing by 4% and ransomware attacks increasing by over 378%. In addition, Kaspersky Lab registered an 11% increase in malware infections, reaching an average of 1.5 million attacks per day and 575 million in one year across the Middle East, Turkey & Africa (META) region.

 

Kaspersky Lab’s recent study entitled “IT Security: Cost center or strategic investment” shows that data breaches can cost enterprises in the META region around $1 million. The same study shows that regional businesses are now prioritizing IT security spending and are expected to allocate up to 27% of their IT budgets to cybersecurity.

 

Hence, in light of enabling organizations to improve their security preparedness, the Cyber Defense Summit is an unparalleled event that brings together industry experts to provide their insights and knowledge on the rapidly changing threat environment that is attacking businesses and governments all over the world. Being aware of the possibility of an attack ensures that organizations have the right mechanisms in place to respond to unforeseen risks.

 

Ramy Al Damati, Enterprise Security Expert for META at Kaspersky Lab who will be delivering a keynote session on block chain security at the summit said, “As the Kingdom of Saudi Arabia advance on their path to achieving an innovation-backed future, central to its Vision 2030, it is imperative that government, organizations and citizens alike make a concerted effort to ensure they adopt a strong security posture to safeguard themselves against cyber risks brought forth by the digital revolution. With emerging technologies such as IoT and Blockchain transforming the way we create, build and consume work and life, they will also pose significant cyber risk. Therefore, through this event, we at Kaspersky Lab want to raise awareness about the importance of cybersecurity as Saudi Arabia prepares to become digital ready.”