In 2016-17, Gulf region witnessed cyber-attack and fraud incidents more than in any other region in the world which is quite the alarming. According to GCC, fraud incidence percentage in Gulf is 6% above the global one. Complexity increase in risk management environment is one of the major reasons behind.

Incidents of Cyber Attacks Percentage in Gulf is 6% Above Global 82% Average

In the Gulf, 88% executives experienced fraud in the last year if compared to 62% for the year of 2015, findings shared in the survey. Amongst 88%, 90% faced cyber-incident whereas 82% cited security incidents according to the Kroll Annual Global Fraud and Risk Report 2016-17.

“Cyber-incidents were even more commonplace with 90 per cent of executives surveyed saying their company has suffered a cyber-incident over the past 12 months. Over eight in 10 [82 per cent] reported the occurrence of at least one security incident over the course of the year,” the survey says.

Half of the survey respondents are of the view that insiders led the outside perpetrators to breach the security with permanent employees the most common in this loop i.e. 24%.