Editorial
A Call to Action Against Cyber Threats to Safeguard Your Digital Assets
By: Twinkle Aswani
In this vast, digitally interconnected ecosystem, your identity serves as your passport and a target. As the digital domain continues to unfold with its intricate technologies, the type and sophistication of cyber attacks also become complex. Safeguarding your data and digital identity becomes an absolute necessity.
Cyber Security Dilemma – Safety and Vulnerability
Each individual creates their own personalized digital space that collates information about them, including bank details, online transaction records, passwords and credentials, emails, social media profiles, and more. This information forms an individual digital identity. Though it makes things easy and convenient, it can also be misused and exploited by cyber criminals through identity theft, financial fraud, privacy invasion, and more.
Cyber Security and Cyber Attacks – Two Sides of the Same Coin
The volume of personal information readily accessible online can significantly impact breaches of digital identity, enabling various forms of cyber crimes.
From cyber-attacks, privacy risks, and identity theft due to data leaks to third-party and business resiliency risks. Businesses and individuals alike must abide by stringent cyber security protocols while staying updated with cyber security trends to safeguard their digital identity, strengthen their security foundation, and preserve their privacy to ensure survival in an uncertain future.
Breach Report Cases
According to the Tech.co 2024 Report, Ticketmaster confirmed the data breach that was rumored earlier this year. Hackers had made records from the breach available for sale, which included customer names, addresses, phone numbers, email addresses, order history, and partial payment details. It was expected that over 560 million customers may be impacted.
According to the New York CNN 2024 report, an activist hacking group known as “Nullbulge” has claimed responsibility for leaking thousands of Disney’s internal messaging channels, which included details about unreleased projects, raw images, computer code, and some login credentials.
Nullbulge stated that it obtained and leaked approximately 1.2 terabytes of data from Disney’s Slack communications platform. In a Monday email to CNN, the group mentioned that access was achieved through “a man with slack access who had cookies.” The email also indicated that the group was based out of Russia.
Securing your Digital Footprints – With Digital Risk Assessment
By systematically identifying and assessing potential vulnerabilities within an organization’s digital infrastructure, risk assessments enable the implementation of proactive measures before threats can be exploited.
It aids in strengthening an organization’s defenses against cyber attacks, reducing the likelihood of data breaches, and ensuring compliance with regulatory requirements.
For individuals, digital risk assessment aids in safeguarding personal data and assets by identifying risks associated with online activities and data storage. Implementing a comprehensive digital risk management strategy not only mitigates the impact of potential threats but also enhances overall security posture, ensuring that both organizational and personal digital environments remain resilient against evolving cyber threats.
According to Gartner’s 2023 report, worldwide end-user spending on security and risk management is predicted to rise to a total of $215 billion in 2024, with an increase of 14.3% from 2023.
“In light of cyber risks increasing, cyber threats proliferating, and a changing operating environment, it is more critical than ever for organizations to build and optimize a cyber security program,” said Shailendra Upadhyay, Senior Research Principal at Gartner. “It is the cornerstone of cyber security initiatives which help SRM leaders secure new environments, protect against the expanded attack surface, consume security capabilities in new ways, and create better efficiencies through automation.”
Breach Report
According to the Cobalt 2024 report, a hacker uploaded a file named “rockyou2024.txt” on a well-known hacking forum containing about 9.9 billion unique plaintext passwords. This breach has raised alarming concerns as it included passwords from old and new data breaches, significantly increasing the risk of credential stuffing attacks, where attackers exploit leaked passwords to gain unauthorized access to user accounts where passwords may have been reused.
The Essence of Digital Risk Assessment in Light of Data Breaches
There are tools available that can aid in safeguarding against such breaches. According to the Cobalt 2024 report, Cobalt’s Digital Risk Assessment offers a proactive approach, utilizing Open Source Intelligence tools and techniques to identify potentially problematic information that may be publicly accessible about your organization. It provides a thorough overview of your digital footprint and identifies potential vulnerabilities.
By identifying these exposed assets, leaked credentials, and other sensitive information across the internet, including social media and the dark web, a Digital Risk Assessment allows you to address potential attack vectors before they can be exploited by attackers.
According to the Khaleej Times 2024 report, expenditures on Security and Risk Management (SRM) by end-users in the Middle East and North Africa region are projected to rise by 12.1%, reaching a total of $3.3 billion in 2024. This surge is attributed to the expanding “threat landscape” influenced by Generative Artificial Intelligence, as reported by a leading research and data provider in the IT sector.
Editorial
Dubai Gears Up for the 26th Edition of the World’s Largest Security, Safety, and Fire Protection Trade Fair
Intersec has firmly established itself as a global powerhouse, renowned for its unparalleled success in bringing together world-class speakers, a cutting-edge conference program, prestigious awards, an innovation zone, and an array of live demonstrations. Since its humble beginnings in 1999, with just 61 exhibitors from 13 countries, Intersec has evolved into the premier international platform for security, safety, and fire protection.
This year, Integrator Media is proud to serve as the official regional media partner for the expo. We’ll be on the ground from Day 1, engaging with suppliers, thought leaders, innovators, manufacturers, and buyers. Through our camera lens and dedicated coverage on our LinkedIn and website pages, we’ll spotlight the latest technologies, products, and solutions driving transformation across various industries.
As the world stands at the forefront of technological innovation, the critical importance of security in our lives cannot be overstated. Addressing complex challenges requires a global collaboration between security experts, policymakers, and standardization communities. Intersec rises to this occasion with over 25 dynamic sessions, including panels, leadership talks, and fireside chats, featuring renowned speakers and thought leaders from across the globe.
Notable speakers include Brett Taylor, Safety & Security Director at Diriyah; Fawaz AlSumaim, Head of Cyber Crime Division at Bahrain’s Ministry of Interior; Stuart Frost, Head of Enterprise Security & Risk Management for the UK Government; and Mohamed AlMaleki, Head of Information Security Office at the UAE’s Federal Tax Authority. These leaders will tackle pressing challenges in their respective fields, sharing insights, best practices, and transformative strategies.
This year’s event will also feature experts from global powerhouses such as Mastercard, Mubadala, Schneider Electric, MBC Group, and more. High-level plenaries and keynotes will showcase security strategists, policymakers, and innovators from organizations like Interpol, Neom, Aramco, Amazon, and Google, offering an invaluable opportunity to gain insights into the future of security and safety.
The Middle East homeland security market, which includes monitoring and surveillance systems, restricted entry mechanisms, and perimeter security solutions, is projected to reach $23.4 billion by 2028. Additionally, the region’s cybersecurity market is being propelled by rapid digital transformation and increased adoption of cloud technologies. Regulatory efforts aimed at countering evolving threats further amplify the importance of cybersecurity in driving growth.
Intersec’s 26th edition promises to be a transformative event, uniting global visionaries and innovators to shape the future of security, safety, and fire protection. It stands as a testament to Dubai’s pivotal role in fostering collaboration and innovation on the global stage.
Automotive
Driving Growth Through Mobility for 53 Years
As the UAE marks its 53rd National Day, the nation celebrates not only its unity but also its emergence as a global leader in innovation and economic resilience. Central to this story is the automotive industry, a key player in shaping the nation’s economic landscape and mobility solutions. From luxury vehicles adorning its bustling streets to cutting-edge advancements in electric and autonomous technology, the UAE has positioned itself as a hub for automotive innovation in the region.
By Srijith K N
The country’s focus on sustainability and smart mobility has catalyzed investments in infrastructure, including EV charging networks and green mobility corridors, further underscoring its status as a pioneer in future-ready transportation. These advancements also reflect the nation’s commitment to sustainability, a cornerstone of its vision for the future.
Within this thriving ecosystem, the car rental industry has emerged as a dynamic sector, mirroring the UAE’s strategic focus on mobility and economic diversification. Rahul Singh, Managing Director of AA AL Moosa Enterprises – Car Rental Division, highlights how this sector has become a key driver of growth. “The UAE’s economy thrives on its strategic focus on travel and tourism, which contributed 11.7% of GDP in 2023. This success is mirrored in the expanding demand for car rental services, with the market growing 10% year-on-year in 2023 to USD 1.77 billion and projected to reach USD 214.70 million annually by 2029.”
Singh attributes this growth to the UAE’s ability to attract millions of international visitors—17.15 million in Dubai alone in 2023—many of whom rely on rental vehicles to explore the nation’s iconic destinations. “This surge reflects a shift towards flexible and cost-effective mobility solutions, driving direct and indirect economic benefits for the country,” he adds.
The role of car rentals becomes even more significant during National Day, as they facilitate seamless mobility for residents and visitors alike to immerse themselves in the celebrations. Beyond offering convenience, rental services cater to diverse needs—from premium sports cars that embody luxury to family-friendly SUVs and eco-conscious electric vehicles.
Electric vehicles (EVs) are particularly transformative, aligning with the UAE’s ambitious green mobility goals. The car rental industry’s increasing integration of EVs reflects a growing consumer preference for sustainable travel solutions. This trend not only supports the nation’s net-zero aspirations but also positions the UAE as a leader in environmentally responsible tourism and transportation.
As the UAE celebrates its 53rd National Day, the car rental and broader automotive sectors stand as pillars of the country’s vision for growth, sustainability, and global leadership. Together, they drive the narrative of a nation that remains steadfast in its pursuit of innovation, inclusivity, and a brighter, greener future.
Editorial
UAE’s 53rd National Day: A Legacy of Progress and Promise for the Financial Sector
As the UAE marks its 53rd National Day, the occasion serves not only as a celebration of its remarkable achievements but also as a reflection on its vision for a prosperous future. For the financial industry, National Day is a time to appreciate the leadership, innovation, and resilience that have positioned the UAE as a global economic powerhouse.
By Srijith K N
A Visionary Leadership Driving Progress
“The UAE’s 53rd National Day is a celebration of its extraordinary achievements and a call to reflect on the values that drive this nation—unity, vision, and sustainability,” says Mufazzal Kajiji, CEO of Zurich International Life (Middle East). This vision has been the cornerstone of the nation’s journey, blending tradition with modernity to achieve its ambitious goals.
Over the past year, the UAE has reached significant economic milestones, including hosting landmark IPOs and advancing its diversification efforts. As Mohamed Hashad, Chief Market Strategist at Noor Capital, points out, “UAE companies going public reflect significant economic progress.” This demonstrates the UAE’s thriving business environment and its leadership in setting global benchmarks for development.
Innovation as the Key to Success
At the heart of the UAE’s progress lies an unwavering commitment to innovation. For financial leaders like Damian Hitchen, CEO of MENA & APAC at Saxo Bank, the UAE’s journey stands as a testament to visionary leadership. “The UAE’s commitment to innovation and digital transformation lies in fostering growth, resilience, and opportunity,” he states. The nation’s investments in fintech, blockchain, and AI are shaping a robust financial landscape that inspires both regional and global players.
This forward-thinking approach extends beyond technology. Sulochana Betwala, COO & Co-Founder of TOTL, emphasizes the UAE’s foundation of loyalty—to its people and its vision of progress. “Over the past 53 years, the UAE has shown that loyalty is not only about tradition but about an unwavering commitment to innovation, diversity, and inclusivity,” she notes.
Empowering People and Building Sustainability
As the UAE moves towards its Centennial 2071 goals, sustainability and empowerment remain at the forefront. “On the UAE’s 53rd National Day, we celebrate an economy driven by innovation, resilience, and empowerment,” says Bal Krishen, Chairman of Century Group. The nation’s initiatives in renewable energy, green finance, and ESG frameworks are setting the stage for a sustainable future.
The financial sector has a critical role to play in this vision, enabling businesses and individuals to access opportunities that contribute to the UAE’s global success. This is not just a reflection of past achievements but a call to shape the future, as Hitchen aptly notes, “The journey is far from over—there is so much to look forward to as the UAE builds on its legacy of progress.”
A Global Financial Hub Inspiring Confidence
National Day also highlights the UAE’s role as a global financial and economic hub. Its stability, strategic location, and innovative policies make it a preferred destination for investors worldwide. The UAE’s resilience in navigating global economic challenges, coupled with its emphasis on inclusivity, ensures it remains a beacon of opportunity.
Looking Ahead
As the UAE celebrates this milestone, its financial sector stands poised to further elevate its global position. Whether through fostering innovation, driving sustainability, or empowering individuals and businesses, the financial industry will remain a cornerstone of the UAE’s ongoing success.
For leaders like Mufazzal Kajiji, National Day is an opportunity to reflect on the nation’s journey and its values: “It’s a day to celebrate a nation that has turned dreams into reality, blending tradition with progress.”
On this National Day, the UAE stands united in honoring the past, celebrating the present, and looking toward a future where ambition knows no bounds.
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