Cybercrime Makes an Impact in the UAE

 

As an economy grows, so does cybercrime

One unfortunate result of maturing markets is a rise in cybercrime. An increase in cybercrime is already being noted in theUAE where it has already cost the UAE’s economy Dh2.3bn to date this year. n the UAE, victims’ cost in time lost due to cybercrime was Dh1.5 billion while the direct cash cost (money stolen/cost of resolving cybercrime) was Dh770.3 million. According to the security firm Symantec, around 72 per cent of adults who access the internet in the UAE have experienced cybercrime, he said, and around 76 per cent of victims experienced cybercrime in the past 12 months. About 51 per cent of cybercrime in the UAE was in the form of computer viruses or malware.  Online scams  were next at 19 per cent and phishing at 18 per cent.