Financial Crime World

Cybersecurity Measures Against Financial Crime Take Centre Stage in Oman Amid Pandemic-Induced Remote Work Boom

Muscat, Oman - As the COVID-19 pandemic continues to reshape the way we work, cybersecurity experts are sounding the alarm about the rise of financial malware attacks targeting corporate users in Oman.

A Decrease in Attacks, But Concerns Remain

In the first half of 2021, Oman has witnessed a notable decrease in financial malware attacks compared to the same period last year. However, this drop is not entirely reassuring, as experts warn that corporate users remain a prime target for cybercriminals.

According to research by Kaspersky, a staggering 37.5 percent of the 2,482 attacks recorded in Oman targeted corporate users. This alarming trend has raised concerns among cybersecurity experts, who believe that cybercriminals are exploiting the remote work scenario brought about by the pandemic to compromise corporate systems.

The Importance of Employee Education

“Employees continue to work outside the relative safety of the corporate network, making it essential to prioritize cybersecurity training for employees,” said Oleg Kupreev, a security researcher at Kaspersky. “Phishing techniques are being used by cybercriminals to target individual users, and financial phishing has become a popular tool for hackers.”

“It’s especially important for businesses to address the weakest link in their cybersecurity chain - the individual user,” emphasized Kupreev. “Cybersecurity awareness is crucial, especially during these challenging operating conditions.”

Recommendations for Mitigating Risks

To mitigate these risks, experts recommend that employees:

  • Only install applications from reliable sources
  • Carefully examine permissions before installation
  • Companies should:
    • Install trusted security solutions on all devices connecting to the Internet
    • Consider using advanced technologies such as anti-advanced persistent threat (APT) and endpoint detection and response (EDR)

Combining Sophisticated Solutions with Continuous Training

“Combining sophisticated cybersecurity solutions with continuously evolving training is key to staying ahead of financial malware threats,” concluded Kupreev. In today’s remote work landscape, it is more important than ever for organizations in Oman to prioritize cybersecurity measures to protect their employees and assets from financial crime.