Oman’s Cybersecurity Measures Foil Financial Crime Attempts Amid Global Pandemic

Oman has successfully thwarted numerous financial crime attempts despite the global COVID-19 pandemic, solidifying its reputation as a leader in cybersecurity.

A Multi-Prong Approach to Cybersecurity

The country’s comprehensive approach to cybersecurity includes education, security drills, and a legal framework. This multi-faceted approach has paid off in the face of unprecedented cyberattacks.

According to Trend Micro, Oman experienced over 2.5 million email, URL, and malware cyberthreats during the first half of 2020. Despite this, a notable 30% drop in COVID-related attacks was observed from the second to the third quarter, indicating that Oman’s IT decision-makers are taking pandemic-related attacks seriously.

Regional Cybersecurity Spending

The Middle East is witnessing a surge in cybersecurity spending, with regional spending on security measures expected to grow 7.1% in 2021 to reach $3.3 billion (IDC). As nation-states and enterprises in the region work to bolster their security stances, Oman’s cybersecurity prowess has been recognized globally.

Cybersecurity Academy and National Computer Emergency Response Team

The Advanced Cybersecurity Academy (ACA) by Thales in partnership with Oman’s Public Authority for Privatisation and Partnership (PAPP) provides hands-on training in cybersecurity. Additionally, the national computer emergency response team (Oman CERT) has been established to shore up the country’s cybersecurity defenses.

Cyber Crime Law and Regional Cooperation

Oman has also established a comprehensive Cyber Crime Law by royal decree. The country hosts the Cybersecurity Innovation Centre for the Arab Region since 2013, aiming to enhance regional cooperation and coordination to address increasing cyberthreats and share information on best practices.

E-Governance and Competency Centre

The Sultanate’s Information Technology Authority serves as a competency centre on best practices in e-Governance and oversees government programs that leverage IT services and strengthen the overall cybersecurity stance.

Conclusion

Oman has solidified its position as a leader in the region, demonstrating its ability to effectively prevent financial crime attempts despite the global pandemic. With its comprehensive approach to cybersecurity, Oman has set an example for other countries to follow, showcasing its commitment to safeguarding its citizens’ digital security and protecting its economy from cyber threats.