Virus raises risk of cyber pandemic, experts warn

Worldwide lockdowns have forced companies to use remote monitoring systems and working practices to try to ensure “business as usual” amid the disruption. (Shutterstock)

• Cybercriminals are exploiting the pandemic by targeting growing numbers of employees working from home

RIYADH: Saudi companies looking to carry on “business as usual” during the coronavirus pandemic have faced unprecedented challenges amid the growing threat of cyberattack, according to cybersecurity experts.
Cybercriminals are exploiting the pandemic by targeting growing numbers of employees working from home, a virtual meeting organized by the Saudi Ministry of Communications and Information Technology was told.
The forum, titled “Cybersecurity and the coronavirus pandemic,” highlighted cybersecurity risks as well as strategies to maintain cybersecurity and protect business operations.
Specialist speaker and partner at McKinsey & Company, Jim Boehm, said that the pandemic has presented chief information security officers with two immediate challenges: Securing work-from-home arrangements, and maintaining the integrity and availability of network traffic as volumes spike.
Worldwide lockdowns have forced companies to use remote monitoring systems and working practices to try to ensure “business as usual” amid the disruption, leaving information officers and their teams with a dual mission.
“They had to continue the operations — they couldn’t just shut the business. It was important to ensure business as usual for customers and for the financial health of the company,” Boehm said.
But at the same time, there were different kinds of threats that in many cases companies knew about but had no security operation in place to offer protection, he added.
“Post-pandemic developments were so fast that it wasn’t easy to devise new mechanisms while dealing with cyberthreats,” he said.
“So definitely as more digital capabilities get involved, absolutely more security concerns come up. The real question is how do I mitigate those and not how do I stop it. The only way to prevent this is to start going digital.”
Digitalization drives significant efficiency gains for businesses, he said, adding that this is now essential for companies looking to maintain continuity during the pandemic.
“Since the start of the outbreak, we have seen a dramatic increase in the number of cyberattacks directed at people working remotely from home and email scams targeting the public,” said Boehm.
Companies are now adopting more secure authentication systems, he said.
Industry is working with experts to establish more robust internal systems, strengthen security measures and educate staff on cybersecurity risks as well as provide training.
The digital meeting was moderated by Mahir Nayfeh, partner at McKinsey & Company, who highlighted the important role that digital transformation is playing during the lockdown and how varied models help to avoid cyberattacks.