On the dark web, 13% of all ads related to the Gulf region target the financial industry

On September 16–19, Positive Technologies experts conducted hands-on cybersecurity workshops for the financial sector in Saudi Arabia, Bahrain, and the United Arab Emirates. The workshops were designed for cybersecurity department managers in banks and financial institutions, as well as other information security managers, analysts, and architects. Participants gained deeper insights into the evolution of cyberthreats in the region and vulnerabilities in the banking system with a focus on strategies to prevent data leaks and financial losses.

In 2023, financial organizations ranked among the top three most targeted sectors globally. A recent study by Positive Technologies on the market for cybercriminal services targeting Gulf countries revealed that from early 2023 to mid-2024, 13% of all expert-reviewed messages on the dark web were related to the financial sector. This area attracts cybercriminals due to opportunities to access user personal data. Analysts note that banks in the region, along with the public sector, have recently become more of a target for hacktivist groups.

Additionally, analysis revealed that on dark web forums, 40% of data purchase requests (the majority of such ads) were for databases from financial institutions.

Evgeniya Popova, Director of International Business Development at Positive Technologies, comments: "Positive Technologies has vast experience in combating cybercriminals. Recently, with rising global tensions, our experts have faced a surge of increasingly sophisticated attacks on companies and organizations in Russia. We are ready to share our expertise and knowledge, introducing our colleagues to the most advanced cybersecurity tools to help them build result-driven cybersecurity in the financial sector of Gulf countries."

The workshops helped local cybersecurity experts deepen their understanding of the ever-evolving cyberthreat landscape in the region and vulnerabilities in banking infrastructure that malicious actors can exploit. Positive Technologies experts also covered common hacker methods and techniques to help improve participants' practical skills in fortifying banking systems, preventing data leaks, and minimizing financial losses from cyberattacks.