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Research reveals security lacks attention at board level
ew research from Trellix ,
N a cybersecurity company delivering the future of extended detection and response ( XDR ), reveals a disconnect between cybersecurity professionals and senior management .
Despite widespread board level ownership of cyber-risk , almost half ( 42 %) of UAE cybersecurity professionals say the board doesn ’ t pay sufficient attention to digital security . This points to a concerning trend that cybersecurity is being treated as a tick-box exercise .
In the UAE , a huge majority ( 89 %) of cybersecurity professionals agree that there is a well-defined ownership of cyber-risk at the board and management level , whether that sits with one individual ( 38 %) or a committee / taskforce ( 51 %). Yet , about a quarter ( 26 %) of respondents highlighted that cybersecurity is not being considered a priority by C-suite / board level which has become a significant challenge for the business .
“ Ownership is not enough if it doesn ’ t translate into action . Creating a culture of cybersecurity across the organisation needs to be a priority on the board ’ s agenda ,” said Adam Philpott , Chief Revenue Officer at Trellix . “ The tone from the top must be conducive to robust cybersecurity management and so the board and cybersecurity experts need
Adam Philpott , Chief Revenue Officer at Trellix
to find a common data language to understand and discuss cyber-risks , how to manage them and the board ’ s role in prioritising a strong security posture across the business .”
Credit card fraud soars to a 10-year high
redit card application fraud
C rose by 18 % in the last quarter of 2022 , with fraudsters looking to take advantage of Personally Identifiable Information ( PII ) and take out credit and borrowing in an account holder ’ s name .
The rise means the overall fraud rate for 2022 was the highest yearly rate recorded by Experian in the last 10 years , indicating the scale of the problem for both consumers and financial services firms looking to identify and prevent fraudulent activity . more favourable terms , with no intention of paying it back – now accounts for 27 % of all applications .
“ Our latest figures show the scale of the fraud epidemic facing consumers and financial services companies ,” said
Eduardo Castro , Managing Director of Identity and Fraud , Experian UK & I . “ The rise in first-party fraud is also striking , as it suggests that households are misrepresenting their financial situation to meet additional costs or cover everyday expenditure .”
When looking at loans , fraud in this space has more than doubled over the last two years , with the rate in Q4 among the highest seen in the last three years .
First-party fraud – where an individual gives false information or misrepresents their identity to access a product on
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