By Ron Chen, Correspondent ASEAN Region
A global leader in cyber protection, WorldRemit, Monday announced a five-year expansion plan in the Middle East, which represents a significant financial investment and major commitment to support the cybersecurity, data protection, and endpoint management requirements of organizations across the Middle East.
Announced at GITEX 2020, the company’s expansion into the region is part of an accelerated growth plan launched in 2019 that has already resulted in three strategic acquisitions, including Israel-based CyberLynx. Several other acquisitions are already under consideration as Acronis looks to embrace every opportunity across the region.
“The Middle East offers key strategic support to businesses worldwide and we are looking forward to exploring new relationships, affiliations, and investment opportunities within the region,” said Regional Account Manager (Middle East) at Acronis, Toufic Maalouf. “At the same time, Acronis is ready to meet the critical cyber protection needs of organizations across the region.”
Acronis’ expansion comes at a time when businesses and government agencies across the Middle East – such as the newly formed cybersecurity council in the United Arab Emirates – prepare for an expected increase in cyberattacks. With its increased presence, Acronis can empower the region’s individuals and organizations with the strategies, services, and solutions needed to counter today’s new and evolving threats.
Toufic noted that the newly released Acronis Cyberthreats Report suggests there are unique cyberthreats expected in 2021 that organizations in the region need to prepare for.
Ransomware’s evolving threat
Ransomware has been an active threat across the Middle East throughout 2020 and the Acronis Cyberthreats Report warns of a shift in 2021 in ransomware tactics. Rather than simply collect ransoms to decrypt infected data, cybercriminals steal proprietary data before encrypting it – and then threaten to publicly release the stolen files unless the victim pays.
Acronis’ analysts found evidence that more than 1,000 companies globally had their data leaked following a ransomware attack in 2020, and they expect that trend to accelerate in 2021 as exfiltration overtakes encryption as the criminals’ primary tactic.
With the average lifespan of a malware sample in 2020 lasting just 3.4 days, the constantly changing barrage of ransomware overwhelms traditional cybersecurity products and makes them obsolete – making successful attacks more likely. Organizations need to modernize their approach to cybersecurity and data protection.
Toufic explains that Acronis’ ability to stay ahead of the threat curve with cutting-edge cyber protection solutions is part of the unique value its expansion brings to the Middle East. As an example, he cites Acronis Cyber Protect, which integrates cybersecurity, data protection, and endpoint management in one AI-enhanced solution.
“GITEX 2020 is known as a hub for presenting the latest innovations and solutions relevant to the region. That’s why we chose to announce our expansion here as we showcase Acronis Cyber Protect. Its unique integration and automation is the kind of technology we plan to further develop and look for within the region,” said Toufic.
