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Hackers increasingly preying on emails and websites as the primary channels for malware infection with devastating consequences
Cyberattacks on global oil & gas infrastructure will cost companies USD1.87 billion by 2018
Dubai, United Arab Emirates: Sophisticated malwares have been identified by cybersecurity experts as the most effective weapons used by cybercriminals. Organisations' failure to employ detection-based security technologies in preventing emails and browser-borne malwares have led to a majority of security breaches that enabled hackers to spy, steal critical information or even remotely manage infected computers of an individual or company.
With several I.T. security companies exposing a rise in targeted attacks using advanced malwares, the 3rd Gulf Information Security Expo and Conference (GISEC) comes at a critical time to serve as a knowledge-based platform that will provide focused and intelligent approaches to cyberdefence as experts reveal technologies and solutions to effectively fight against increasing attacks using malwares.
Scheduled to be held at Dubai World Trade Centre (DWTC), GISEC will run from 26 to 28 April. With three days of critical insights, the event will bring together global visionaries offering cutting-edge I.T. solutions and tactics to help counteract growing cyberattacks in the region.
According to a new research by Ponemon Institute, insecure browsers allow web-borne malware to infiltrate more than 75% of enterprises worldwide. The institute also estimated that organisations have spent USD3.2 million on average to remediate breaches caused by the malware.
Cyberattacks against global oil & gas infrastructure will cost companies USD1.87 billion by 2018 as per ABI Research. The Cisco's 2014 Annual Security Report revealed that a sample of 30 of the world's largest Fortune 500 companies generated visitor traffic in websites that host malware.
The Cisco report also indicated a spike in malware attacks on the Middle East's oil & gas sector, with hackers targeting energy industry workers with infected emails. Meanwhile, the UAE ranked as the second most targeted country online in the Middle East last year.
Key verticals infected by Kuluoz Malware
Among the cybersecurity experts at GISEC is Brian Tokuyoshi, Senior Solutions Analyst, Palo Alto Networks, a leader in enterprise security, who will be highlighting detailed insights from Palo Alto Networks recent Threat Landscape Review. This report shows how Kuluoz, a new and improved modular framework, has been infecting unsuspecting users of various key verticals since 2007. Tokuyoshi will also discuss how to protect organisations by eliminating common sources of risk and employing modern prevention-based techniques.
The key findings of the report include that 87% of the Kuluoz malware was sent over SMTP while 11.8% acquired the virus through HTTP. Quickly sending copies of itself over email to users, the Kuluoz malware attempts to download pay-per-install malware, and has impacted 1,933 different organisations globally including those in the Middle East. The report also indicated that among the key verticals affected by the malware are critical infrastructure, finance, government, healthcare, high tech, higher education, hospitality, manufacturing, professional services, and retail and wholesale.
"It is essential that information security practitioners dealing with management, governance, enablement and execution, stay current on trends and malware distribution patterns and take a prevention-centric approach to securing their organisations," said Saeed Agha, General Manager, Palo Alto Networks Middle East.
"Practitioners need to consider security that can identify and stop attacks at multiple stages in the attack kill chain," he added.
Middle East Oil & Gas and Petrochemical sectors under malware attack
Early this year, a malware dubbed 'Laziok', which was used in an attack campaign against the petroleum, gas and helium industries across the GCC, was classified as a reconnaissance tool and an information stealer. Once the malicious emails were opened, the recipients became vulnerable to snooping and hackers acquired sensitive corporate information.
In 2014, a variant of the 'Citadel' malware was massively distributed across Middle Eastern petrochemical organisations. Citadel was originally created for the purpose of stealing banking credentials but has since upgraded to download information and remotely manage infected computers.
A Saudi Arabian oil company was hit with a Shamoon malware in 2013, which infected roughly 30,000 of its workstations and led to a nearly two-week disruption. Even though, the malware failed to suspend the company's flow of oil & gas supplies to international markets, it still resulted in losses amounting to USD15 million as per the company's own estimates. The Shamoon malware also infected one of Qatar's natural gas producers, which caused the company's website to go down and left employees with no email access for weeks.
As the region's largest and only I.T. security knowledge event, GISEC will showcase over 150 exhibitors. It is set to attract over 6,000 trade visitors from 50 countries, including Chief Information Security Officers (CISOs) and Chief Information Officers (CIOs), who will learn how to develop cybersecurity strategies.
Co-located with GISEC this year is the region's pioneer Gulf Enterprise Mobility Exhibition and Conference (GEMEC), which will address the need of enterprises to embrace mobility. At the event, senior executives will discuss ways to identify, evaluate and source technology and mobility solutions to meet their current and future mobile requirements. GEMEC's world-leading conference programme caters to the region's enterprise and government decision makers who are envisioning new and creative ways to extend their competitive advantage.
The key sponsors of GISEC 2015 include BT Global as the Lead Sponsor; GBM as Diamond Sponsor; CISCO and Spire Solutions as Platinum Sponsors; Etisalat, Paladion Networks, Palo Alto Networks as Gold Sponsors; and Fortinet, Guidance Software, Paramount and Qualys as Silver Sponsors. Key exhibitors also include Airwatch, Airbus Defence & Space, Bit 9, Cyberroam, F5, Lancope, Mindware, Neustar, Rapid7, Splunk, WhiteHat Security and many more.
Powered by GITEX TECHNOLOGY WEEK, the region's leading technology event, GISEC and GEMEC are strictly trade-only events and are open to business and trade visitors from within the industry only. GISEC and GEMEC are open 10am-6pm from 26-28 April 2015 at Sheikh Rashid Hall at Dubai World Trade Centre. Visitor attendance is free of charge. For more information, please visit www.gisec.ae.
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About Gulf Information Security Expo and Conference (GISEC)
Website www.gisec.ae
Gulf Information Security Expo and Conference (GISEC) is the Middle East's most anticipated IT security knowledge platform for 2015. The event features a three-day exhibition from 26-28 April and a two-day conference from 26-27 April at the Dubai World Trade Centre.
Organised by Dubai World Trade Centre and powered by GITEX TECHNOLOGY WEEK, the region's largest annual ICT event, GISEC attracts top industry professionals including CIOs, CTOs, CSOs and senior management from key industries including finance, energy, telecoms, government sectors and IT. GISEC connects visionaries, thought-leaders, practitioners and innovators who are transforming the information security landscape. A premier line-up of speakers and experts are planned to drive the conversation in new and strategic direction.
DWTC's inaugural Gulf Enterprise Mobility Exhibition and Conference (GEMEC) will be co-located with Gulf Information Security Expo and Conference (GISEC) this year. The event provides region's enterprise and government decision makers and senior executives, from across a range of industries, to identify, evaluate and source technology and mobility solutions to meet their current and future mobile requirements. GEMEC will be held on 26 -28 April 2015.
About Dubai World Trade Centre (DWTC)
Website www.dwtc.com
As the organiser of Gitex Technology Week, Gulfood, Dubai International Motor Show and many others, Dubai World Trade Centre offers more than 33 years' experience delivering world-class events in the Middle East, providing local, regional and international exhibitors with unmatched expertise and in-depth market knowledge. Our team organises 18 of the largest and most successful international and regional shows in Middle East, providing an ideal platform for business development in the region.
Our commitment to on-going innovation within the exhibition industry has supported the rapid growth and development of a wide range of business-to-business and business-to-consumer shows, and delivered consistent satisfaction to exhibitors and visitors. DWTC works with the leading trade bodies and industry associations to ensure that all exhibitions deliver full value and are built upon the real needs of their specific sector.
For more information, please contact:
Rose Manaog
MCS/Action
+971 3693496
rose.m@actionprgroup.com
Amelia Naidoo
Manager - PR & Media Relations
+971 55 747 9086
Amelia.Naidoo@dwtc.com
© Press Release 2015
