In today’s digitally driven world, Saudi businesses face a rapidly evolving cyber threat landscape. With increasing sophistication in attacks, organizations must shift their focus from traditional security to cyber resilience, write Mohammad Kashif, Syed Sajjad Bukhari and Shaikh Muhammad Rahib from Ecovis Al Sabti.
According to the latest ‘Cost of a Data Breach Report’, the average cost of a data breach in 2024 is at around $4.88 million, a 10% increase over the year previous – highlighting the significant rise in the frequency and complexity of cyberattacks.
Current state of threats in KSA
With its rapidly expanding digital economy and ambitious Vision 2030 goals, Saudi Arabia has become a prime target for increasingly sophisticated cyberattacks. A number of highlights from a recent Trend Micro report:
- 40% of the total cyberattacks sustained by Saudi Arabian organizations in the last two years were successful.
- An analysis of incidents from the year-end 2023 uncovered over 180 incidents in Saudi Arabia, of which 47% of the data related to Saudi organizations was sold on dark web. These incidents predominantly targeted…
