Need of the hour

Cyber crime now ranks as one of the world’s top four economic crimes in part because criminals are increasingly able to exploit the speed and anonymity that modern technologies offer. As a result of the global connectivity that technology and cyber space now offer criminals are now able to engage in their criminal activity from anywhere in the world. The size and scale of such activities, and what is perceived as including state-controlled opportunism, has lead to such activities being described as a “new form of warfare”.

Losses to financial services firms, in particular, are on the rise. Costs to firms are not just limited to direct financial losses, reputational damage has become a big factor with customers becoming less forgiving of financial institutions leading increased lawsuits against those perceived as responsible – even if the institution is itself a victim.

Customer data is now seen as a valuable asset in its’ own right, while the convergence of cyber crime and fraud has become a major threat. Attacking the mobile devices we have all become dependent upon and cyber sabotage have become the new normal and as a result it is not surprising that government and regulators are expecting more from organisations whatever the sector.

It is against this backdrop that Crowe Global feels the time is right to launch its globally recognised cyber security service in the MENA region from its Dubai “Hub” and we would like to introduce you to the services we have to offer.