Credit agency Standard & Poor's revealed that Gulf banks have not been subjected to significant cyber attacks over the past two years thanks to their continued investment in infrastructure and systems. It warned that an attack that would disrupt banks' business for a long time would hurt banks' creditworthiness.
According to Standard & Poor's, banks' financial reports did not include significant losses, which, along with their relatively low cost of operating risk capital, indicates that they have not recorded any significant cyberattacks over the past two years. The report showed that banks and financial companies were the sixth most targeted sectors in 2022 globally, with an average of 1,131 attacks per week, according to Checkpoint, a research firm specialized in cyber information, while the education and research sector came in first place, followed by the government and military sector, and then healthcare.
Source (Al-Sharq Al-Awsat Newspaper, Edited)
