UAE Bucks Trend In Cost Of Global Cybercrime

The UAE has bucked a global trend of the cost of cybercrime in today’s society, reducing its average cost per victim by 24 per cent over the past 12 months.

A report by Symantec has revealed the average cost of cybercrime per person has risen 50 per cent in the rest of the world.

The study also showed UAE residents are below the global average when it comes to failing to secure their mobile devices.

“Today’s cybercriminals are using more sophisticated attacks, such as ransomware and spear-phishing, that yield them more money per attack than ever before,” said Tamim Taufiq, OEM and ISP lead for Symantec, Middle East, Turkey and Africa.

“With the findings from the Norton Report that 55 per cent of consumers in the UAE use their personal mobile device for both work and play, this creates entirely new security risks for enterprises as cybercriminals have the potential to access even more valuable information.”

The study found that despite nearly half of global smartphone users going to bed with their devices, 48 per cent of users do not take basic precautions such as passwords, having security software or backing up files.

The number of UAE users not taking safety measures was below the global average at 41 per cent.

“If this was a test, mobile consumers in the UAE would be failing,” said Taufiq.

“While consumers are protecting their computers, there is a general lack of awareness to safeguard their smartphones and tablets. It’s as if they have alarm systems for their homes, but they’re leaving their cars unlocked with the windows wide open.”

The report showed that although the cost of cybercrime is on the rise, the number of adults who have been a victim of an online attack has fallen.