Businesses in the Middle East, Turkey, and Africa (META) region are struggling with downtime, data protection, and securing complex technology environments, according to a new report.
The Kaspersky’s 2024 IT Security Economics Report based on a survey of IT and cybersecurity professionals in 27 countries, including the UAE, South Africa, and Egypt, highlights the top challenges companies face as cyber threats become more sophisticated.
Globally, 38% of businesses identified downtime and lost productivity as their biggest IT security issues, while the figure in the META region stood at 34%.
Downtime caused by ineffective cybersecurity measures remains a concern for organisations, “They encounter this problem mainly because of the long time taken to detect and remediate threats,” Kaspersky says. Prolonged system outages disrupt business operations, leading to productivity and revenue losses.
Kaspersky’s 2024 IT Security Economics Report.
Report: 34% of companies cited data protection concerns
“It is crucial for organisations to safeguard every aspect of their operations from potential breaches,” Alexey Vovk, Kaspersky’s Information Security Director says. “Attackers no longer solely rely on zero-day exploits, as a simple click on a malicious link or a vulnerability in a contractor’s infrastructure can lead to devastating consequences.”
Downtime caused by ineffective cybersecurity measures remains a concern for organisations, “They encounter this problem mainly because of the long time taken to detect and remediate threats,” Kaspersky says. Prolonged system outages disrupt business operations, leading to productivity and revenue losses.
Another concern is data protection, cited by 34% of companies in the META region. Businesses are facing threats like employee-related device loss and data leaks caused by malicious insiders or external hackers.
With global cybercrime damages projected to reach $10.5 trillion annually by 2025, data breaches pose not just financial risks but also reputational damage for businesses, particularly in heavily regulated industries like healthcare and banking.
Securing increasingly complex technology environments also ranks high on the list of challenges, with 26% of META respondents naming it a top issue.
“Among the main IT issues that cause this challenge, respondents pointed to the rising number of incidents involving non-computing connected devices and incorrect operations of cybersecurity solutions that leave systems exposed,” Kaspersky says. “Additionally, difficulties in managing security across different computing platforms play a crucial role in their inability to build a reliable all-encompassing cybersecurity system.”
According to Vovk, “This underscores the idea that information security should be based on a comprehensive and systematic approach, rather than being limited to the implementation of individual point-specific measures.”
Solutions for businesses
Kaspersky recommends that organisations in the META region adopt a layered approach to cybersecurity:
– Invest in comprehensive tools that provide real-time threat detection and incident response.
– Use advanced threat intelligence services to understand emerging risks and bolster defense strategies.
– Consider managed security services for 24/7 protection, especially for firms lacking in-house cybersecurity teams.
For businesses in META, the challenge lies not only in addressing existing vulnerabilities but also in preparing for future threats.
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