Victims in the UAE lose $746 million a year to cyber crime, according to new research by UK technology comparison website Comparitech.
Victims of cyber crime worldwide lose $318 billion each year, the study found. About 71.1 million people in the world fall victim to cyber crime each year, which equates to nearly 900 victims per 100,000 people, and the average victim’s loss is $4,476 per cyber crime, the Comparitech research revealed.
The company made the calculation based on an analysis of cyber crime reports in 67 countries for which this information was available in either 2018-2019 or 2019-2020.
Cyber crime is still severely underreported by police and government entities and the true monetary value remains largely unknown
Comparitech
“Cyber crime is still severely underreported by police and government entities and the true monetary value remains largely unknown,” the study said.
Remote working and rapid digital transformation because of the Covid-19 pandemic resulted in an increase in cyber crime globally.
The average global cost of a data breach rose by about 10 per cent a year to $4.2m over the past 12 months, according to IBM.
The countries that experienced the highest losses as a result of cyber crime are the US ($28bn), Brazil ($26bn), the UK ($17.4bn) and Russia ($15.2bn), according to Comparitech research.
In comparison, the UAE recorded 166,667 victims losing $746m to cyber crime annually, the study said.
The country that experienced the largest increase in cyber crime was Sri Lanka, with a 359 per cent year-on-year increase from 2019 to 2020 (3,566 to 16,376 reports).
Most (15,895) of these reports related to social media crimes, probably caused by the increased use of these platforms during the Covid-19 pandemic.
Significant increases in reported cyber crime were also observed in Belarus (176 per cent), Indonesia (140 per cent), Puerto Rico (125 per cent) and Panama (100 per cent).
In contrast, countries that experienced a decreases in cyber crimes were Croatia (59 per cent), Paraguay (58 per cent), Kuwait (27 per cent), Australia (7 per cent) and China (5 per cent), according to Comparitech.
The country with the highest proportion of cyber crime victims was the UK, with 1,095 per 100,000 people submitting reports. This was followed by Denmark (514 per 100,000 people), Spain (463 per 100,000 people), Brazil (415 per 100,000 people) and Austria (404 per 100,000 people), the study revealed.
Cyber crime is a wide-ranging term, according to Comparitech. “From an online data breach to a flurry of botnet attacks, the sheer scale of cyber crime is vast and, to some extent, unknown,” the report said.
While the Comparitech study focuses more on targeted crimes that seek to exploit individuals, steal someone’s data, or illegally access computer systems or networks, the report said there is a huge difference between how each police or government reports on cyber crime.
“Cyber crimes are heavily underreported both in terms of victims reporting the crimes and governments creating reports about cyber crime levels in their countries,” the study said.
Figures may also vary depending on what the reporting entity includes within its losses and whether or not lost time, replacement computers, police time, recovery costs, and other factors are added, it said.
“With the lack of transparency and reporting around these types of crimes, it is difficult to gauge the true extent of the problem … until we are able to see the real cost of these crimes on a country-by-country basis, cyber criminals will continue to have the upper hand,” Comparitech said.
“Lack of reporting will lead to a loss in victim confidence (and a reluctance to report the crime), gaps in the awareness of these types of crimes, and inadequate legislation and criminal procedures to hold cyber criminals to account,” the company said.
Global state-owned investor ranking by size
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United States
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China
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UAE
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Japan
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Norway
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Canada
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Singapore
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Australia
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Saudi Arabia
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South Korea
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The specs
Engine: 1.5-litre turbo
Power: 181hp
Torque: 230Nm
Transmission: 6-speed automatic
Starting price: Dh79,000
On sale: Now
Benefits of first-time home buyers' scheme
- Priority access to new homes from participating developers
- Discounts on sales price of off-plan units
- Flexible payment plans from developers
- Mortgages with better interest rates, faster approval times and reduced fees
- DLD registration fee can be paid through banks or credit cards at zero interest rates
Killing of Qassem Suleimani
Killing of Qassem Suleimani
Pharaoh's curse
British aristocrat Lord Carnarvon, who funded the expedition to find the Tutankhamun tomb, died in a Cairo hotel four months after the crypt was opened.
He had been in poor health for many years after a car crash, and a mosquito bite made worse by a shaving cut led to blood poisoning and pneumonia.
Reports at the time said Lord Carnarvon suffered from “pain as the inflammation affected the nasal passages and eyes”.
Decades later, scientists contended he had died of aspergillosis after inhaling spores of the fungus aspergillus in the tomb, which can lie dormant for months. The fact several others who entered were also found dead withiin a short time led to the myth of the curse.
Company%20Profile
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Match info
Manchester United 0-0 Crystal Palace
Man of the match: Cheikhou Kouyate (Crystal Palace)
Tips for job-seekers
- Do not submit your application through the Easy Apply button on LinkedIn. Employers receive between 600 and 800 replies for each job advert on the platform. If you are the right fit for a job, connect to a relevant person in the company on LinkedIn and send them a direct message.
- Make sure you are an exact fit for the job advertised. If you are an HR manager with five years’ experience in retail and the job requires a similar candidate with five years’ experience in consumer, you should apply. But if you have no experience in HR, do not apply for the job.
David Mackenzie, founder of recruitment agency Mackenzie Jones Middle East
SERIE A FIXTURES
Friday Sassuolo v Benevento (Kick-off 11.45pm)
Saturday Crotone v Spezia (6pm), Torino v Udinese (9pm), Lazio v Verona (11.45pm)
Sunday Cagliari v Inter Milan (3.30pm), Atalanta v Fiorentina (6pm), Napoli v Sampdoria (6pm), Bologna v Roma (6pm), Genoa v Juventus (9pm), AC Milan v Parma (11.45pm)
The specs
Engine: 4.0-litre flat-six
Torque: 450Nm at 6,100rpm
Transmission: 7-speed PDK auto or 6-speed manual
Fuel economy, combined: 13.8L/100km
On sale: Available to order now
RESULT
Deportivo La Coruna 2 Barcelona 4
Deportivo: Perez (39'), Colak (63')
Barcelona: Coutinho (6'), Messi (37', 81', 84')
Quick%20facts
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UAE currency: the story behind the money in your pockets
SPEC%20SHEET%3A%20APPLE%20M3%20MACBOOK%20AIR%20(13%22)
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Key facilities
- Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
- Premier League-standard football pitch
- 400m Olympic running track
- NBA-spec basketball court with auditorium
- 600-seat auditorium
- Spaces for historical and cultural exploration
- An elevated football field that doubles as a helipad
- Specialist robotics and science laboratories
- AR and VR-enabled learning centres
- Disruption Lab and Research Centre for developing entrepreneurial skills
UPI facts
More than 2.2 million Indian tourists arrived in UAE in 2023
More than 3.5 million Indians reside in UAE
Indian tourists can make purchases in UAE using rupee accounts in India through QR-code-based UPI real-time payment systems
Indian residents in UAE can use their non-resident NRO and NRE accounts held in Indian banks linked to a UAE mobile number for UPI transactions
The bio:
Favourite holiday destination: I really enjoyed Sri Lanka and Vietnam but my dream destination is the Maldives.
Favourite food: My mum’s Chinese cooking.
Favourite film: Robocop, followed by The Terminator.
Hobbies: Off-roading, scuba diving, playing squash and going to the gym.
Dust and sand storms compared
Sand storm
- Particle size: Larger, heavier sand grains
- Visibility: Often dramatic with thick "walls" of sand
- Duration: Short-lived, typically localised
- Travel distance: Limited
- Source: Open desert areas with strong winds
Dust storm
- Particle size: Much finer, lightweight particles
- Visibility: Hazy skies but less intense
- Duration: Can linger for days
- Travel distance: Long-range, up to thousands of kilometres
- Source: Can be carried from distant regions
The specs: 2017 Dodge Viper SRT
Price, base / as tested Dh460,000
Engine 8.4L V10
Transmission Six-speed manual
Power 645hp @ 6,200rpm
Torque 813Nm @ 5,000rpm
Fuel economy, combined 16.8L / 100km
