Cisco Highlights Rising Cybersecurity Threats Ahead of Black Hat MEA 2024

Cisco, a global networking and security company, has revealed critical cybersecurity trends observed between July and September 2024, just ahead of the Black Hat MEA conference in Riyadh from November 26-28, 2024. The findings, based on Cisco Talos’ trusted threat intelligence analysis, highlight a significant rise in identity-based attacks and the ongoing threat of ransomware.

Key insights from Cisco’s cybersecurity report for Q3 2024 include:

– Identity-Based Attacks Surge: Credential theft emerged as the primary focus, accounting for 25% of incident response engagements.

– Ransomware Remains a Persistent Threat: Nearly 40% of engagements involved ransomware, pre-ransomware, and data theft extortion. New ransomware variants such as RansomHub, RCRU64, and DragonForce were identified, alongside established threats like BlackByte and Cerber.

– Top Affected Sectors: Education, manufacturing, and financial services were the most targeted industries, representing over 30% of compromised organizations.

As the strategic sponsor of Black Hat MEA 2024, Cisco is set to showcase its latest cybersecurity innovations under the theme “Innovating a New Era of Security.” At the event, Cisco will highlight its AI-ready data centers and cloud solutions, designed to secure applications and devices in an increasingly distributed and connected environment.

Salman Faqeeh, Managing Director of Cisco Saudi Arabia, emphasized, “The rise in identity-based attacks and ransomware underscores the evolving nature of cyber threats. Cisco is dedicated to empowering customers with advanced security solutions to enhance their digital resilience.”

In addition to Cisco’s presentations, Splunk, a Cisco company, will demonstrate its solutions at the event, including innovations for the future of Security Operations Centers (SOC) and specialized solutions for Operational Technology (OT) environments.

Lothar Renner, Managing Director of Cisco Security, EMEA, will deliver a keynote address titled “Redefining Security in the Age of AI,” focusing on Cisco’s commitment to cybersecurity innovation in an increasingly complex threat landscape.

Cisco will be exhibiting at booth H1-T20 at the Riyadh Exhibition & Conference Centre from November 26-28, 2024.