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UL urges Mideast businesses to manage cybersecurity risks

UL urges Mideast businesses to manage cybersecurity risks
The vice president and general manager in the Middle East for UL, Hamid Syed

UAE – Mubasher: The global leading safety science company, UL, has advised Middle East-based firms to take drastic steps against cybersecurity before it is too late.

Cybersecurity has become an increasingly important issue among companies of all sizes, with hackings and data breaches causing financial and reputational damages, according to a press release on Tuesday.

On the sidelines of the ninth ASIS Middle East 2019 Security Conference and Exhibition, UL’s sales lead with UL Identity Management and Security division, Arif Hassan, stated that the ‘Industry 4.0’ has transformed the way businesses work with organisations conducting daily operations digitally.   

Many tasks once performed by humans are now being automated in Industry 4.0. With the use of real-time data analysis and connected devices, production has become very efficient and customized to specific needs,” he added.

Moreover, the internet of things (IoT) devices connected to high-speed internet 5G networks are seen as the “prime targets” for both hackers and criminals.

Commenting on the business risks cybersecurity may cause, Hassan said, “With an increasing number of businesses getting digitized, they can be exposed to several threats if they do not properly manage security risks. We have seen that organizations have been affected by security and data breaches where top executives have lost their jobs.

Interestingly, cyber attackers do apply innovative methods, this includes using mechanisms in both hardware and software and information gathering.

Meanwhile, the vice president and general manager in the Middle East for UL, Hamid Syed, commented, "People tend to forget about threats to systems that control the operations of manufacturing and chemical plants, water systems, utilities or power.”

By applying the IEC62443 standard, a structured approach to security in manufacturing can be set up. It allows organizations to improve the digital security and safety of their process and implementation of the standard brings organizations to a higher level for security,” he concluded.