Regional Experts Urge UAE Businesses to Strengthen Cybersecurity Amid Growing Data Breach Costs and Global Cybercrime Losses
Dubai, United Arab Emirates, January 16, 2025: Cybersecurity experts gathered in Dubai this week to address the urgent challenges of securing businesses in an increasingly digital world.
At the forefront of this conversation, a recent cybersecurity conference, “Shaping a Secure Enterprise,” organized by the Indian Business & Professional Council (IBPC) and cybersecurity firm Falcon Eye, brought together industry leaders to discuss best practices, emerging trends, and the vital importance of protecting digital assets in the face of evolving cyber threats.
The event, the first of a three-part series aimed at strengthening the UAE’s digital defences, focused on safeguarding businesses of all sizes across the region.
Guest of honour – H.E. Dr. Mohammed Saeed Al Kindi, Former Minister of Environment and Water – UAE, lauded the IBPC’s initiative and thanked them for bringing the experts together for this important conversation. He added that cybersecurity is no longer a luxury but a necessity. His presence underscored the UAE government’s strong commitment to strengthening national cybersecurity efforts and supporting private-sector collaboration in tackling digital threats.
Keynote speaker Mr. Sukiraman Manivannan, Practice Lead for Safe AI & Data Protection at CPX-G42, emphasized the UAE’s leadership role in cybersecurity and AI governance. With generative AI and cybersecurity being key trends for 2025, he stressed the importance of creating clear frameworks for AI use, citing the UAE’s comprehensive Charter for the Development and Use of AI as a model. Manivannan warned that while regulatory compliance is essential, companies must also leverage cybersecurity as a competitive differentiator and as part of their broader corporate social responsibility (CSR) strategies. Citing the statistic that global cybercrime costs are expected to grow by 15 percent annually, reaching an astronomical $10.5 trillion by 2025, according to leading research company Cybersecurity Ventures, he added that the need for robust digital defences has never been more critical.
According to Cybersecurity Ventures, there are currently over 219 trillion cyber-attacks annually worldwide, a staggering statistic that underscores the growing scale of digital threats.
The conference also featured two insightful panel discussions:
“How Tough is It to Build, Maintain & Operate a Digital Armor?”
This session explored the technical challenges involved in constructing a robust digital defence system. Moderated by Mr. Sameer Makhija, Co-convener of the Technology & Telecom Focus Group, panellists including Mr. Hariprasad Chede, Chief Information Security Officer at National Bank of Fujairah, Dr. Narayanan Krishnan – CTO, Falcon Eye Cybersecurity, and Mr. Malek Abu Tayah – Group CIO, Al Batha Group. They shared real-world examples and best practices. Key takeaways included the need for resilience in the face of inevitable cyberattacks, a strong risk-based approach to budgeting for cybersecurity, and the importance of including cybersecurity in the agendas of CXOs and CEOs.
“Perspectives for a ‘Digital Armor’ Around Your Business”
This session focused on the strategic side of cybersecurity, emphasizing the importance of a holistic approach to securing business data. Panellists, including Mr. T.K Raman – Group CEO, Finance House PJSC, Mr. Saji Oommen, Group CIO at Al Batha Group and Mr. Evangelos Kaldelis, CEO MENA of 3S.Money, provided insights on creating a cybersecurity strategy that incorporates governance, monitoring, and continuous response mechanisms.
They highlighted the need for businesses to adopt multi-layered cybersecurity frameworks. This includes leveraging both technical solutions, such as AI and advanced encryption, and strategic approaches, such as regular risk assessments and continuous monitoring.
Attendees were also reminded that cybersecurity is not only about compliance; it’s about building resilience and protecting corporate reputation in an increasingly interconnected world.
“The ‘Shaping a Secure Enterprise’ conference was a critical platform for exchanging insights on how businesses can better defend themselves against cyber threats,” said Dr. Sahitya K. Chaturvedi, IBPC Secretary General, who gave the introductory speech. “As cyber threats continue to evolve, it’s clear that a collaborative, proactive approach to cybersecurity is the key to ensuring a safe and secure digital future for the UAE and beyond.”
With this event marking the first of three planned cybersecurity forums under the Digital Armor umbrella, the IBPC is committed to fostering continuous dialogue, sharing cutting-edge insights, and driving proactive strategies to fortify the UAE’s digital landscape against emerging cyber threats, he added.
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