Ransom virus (Ransomware) costs the global economy three trillion dollars…

Ransom virus (Ransomware) costs the global economy three trillion dollars…

- in Releases
1379
Comments Off on Ransom virus (Ransomware) costs the global economy three trillion dollars…

Shatha Khalil *

The wave of cyber attacks “on a global level” raises the concern of the experts of information security, as hackers have become smarter, more subtle and insidious to make the malicious programs on the lock of the files of the targeted users, and forcing them to pay an amount of money in the form of Bitcoin in exchange for reopening it.

And Bitcoin: It is an electronic currency comparable to other currencies such as the dollar or the euro, with the presence of several basic differences, notably that this currency is trading only online without having Physicist presence, and differ from traditional currencies that there is no central regulatory body behind it, but it can be used like any other currency to buy online, or converted to traditional currencies. Bitcoin is a growing space for creativity, and there are business opportunities also contain risks, since there is no guarantee that al-bitcoin will continue to grow although it has developed in a very fast rate so far.

Experts and specialists of electronic security explained that the cybercrimes cost the global economy more than $ 400 billion a year, and the losses of Middle East region alone are estimated of more than one billion dollars.

They stressed that the cyber crimes and attacks are of the most serious threats facing most countries in the world, as they are a violation or an imminent threat to violate the electronic security policies.

According to the latest studies released by Open Tenking Foundation for Training, it is expected that the cyber attacks to cause a loss for the global economy about $ 3 trillion by 2020, if governments do not take the necessary measures to counter the attacks of cyber piracy.

Reports indicate to the exposure of about forty million people in the United States to steal their personal data by hackers, while gaps in protection programs affected 54 million people in Turkey and 16 million in Germany, and more than 20 million in China, and according to the head of the unit of anti – terrorism crimes in the Federal office of anti – crime in Germany , Marcus Coates that : « the number of internet crimes in Germany have doubled in the year 2016 as it exceeded 82 thousand» , and said: “the cost of these crimes was more than 51 million euro”, and pointed out that: «the arrival of these crimes to millions caused losses worth 22.4 billion euro. »

The losses of Middle East region alone of cyber crimes are estimated by more than one billion dollars, according to the CEO of the UAE company “Dark Matter for electronic security Faisal Banai, .
He pointed out that the business sector and countries need to adopt the premise of exposure to a security breach, and the adoption of appropriate protocols and systems for the defense of information and data.
Banai said that the losses of global economy as a result of cyber crimes are estimated at about $ 400 billion a year, and there are expectations to rise in the coming years with the continuation of those crimes.

He explained that the size of defense spending in the Middle East region is estimated at more than $ 100 billion a year,, adding that: “Companies and countries must realize that cyber security is not a source of concern in the technology sector only, but also constitutes a further threat to the business sector and is a top priority for the achievement of national security “.
The CEO of UAE “Dark Matter” added : The operations of electronic penetration have become widespread in recent times in the region ;; due to the presence of many electronic gaps, and the spread of global electronic technologies, where terrorist organizations stand behind them , according to information cited by anti – electronic fraud conference(ACFE Global Fraud Conference ).

Banai stressed that most security threats are usually addressed to key sectors experiencing an exponential growth in the Gulf, such as: financial, oil and gas, technology, construction, and health care services.

The expert specializing in electronic security, UAE Najwa al-Araj said: “With the digital transformation and networking communication, wars are not limited on land, sea and air, but surpassed to include electronic level.”

Araj who served previously as assistant at Booz & Co, a company in America and the Middle East added: “The electronic World adds today a new dimension to the battlefield, and therefore States must provide the necessary protection for its vital infrastructure from the threat of cyber attacks.”

The founder and CEO of the company , “Dark Matter” for the electronic security , Banai: The operations of mail penetration have become widespread in recent times in the region due to the presence of many electronic gaps, and the spread of global electronic technologies, indicating that the employment of electronic security is absolutely necessary, as cyber attacks cause a great losses for the states , including: penetrating traffic signal systems, smart cars remotely, in addition of espionage operations which are already known , and most security threats.

Experts point out that cyber attacks have caused economic losses in 2016 which are estimated at $ 450 billion, and is expected that the volume of economic losses of up to three trillion dollars by 2020 if governments do not take measures to counter electronic piracy attacks.

Experts adds that piracy operations focused on the electronic cards used in online shopping, as these operations amounted to about 20 %% of fraud operations.

And 80% includes the penetration of bank accounts and operations of the transfer money from client accounts , and penetrating accounts of companies, copy of data of credit cards , steal data and sell it to destinations that can take advantage from it to carry out the piracy operations.

The ratio of risk in the Middle East is low; it is concentrated in Saudi Arabia and the UAE, and terrorist organizations stand behind it, according to data released by anti – fraud electronic conference, as it does not exceed 30%, compared with up to 65% in Europe and America, which means that these countries are more cautious about financial transactions over the Internet.

The cyber attacks targeted simultaneously , “many countries of the world” by a malicious program to extort money, and the pirates took advantage of the gap in the operating systems “Windows” that the secret documents of the US National Security Agency revealed that the “NSA” was pirated.

And British Agency for information security confirmed in a statement: “We have seen a series of cyber attacks targeting thousands of institutions and individuals in dozens of countries,” and the agency recommended to update the programs of information security and electronic anti – virus programs to avoid attacks.

The US Department of Homeland Security, said: “We have received several reports about computer program calls for victims to pay a ransom , and the ministry warns in turn, individuals and organizations from the payment because it does not guarantee the data recovery.

And the pirates asks to pay ransoms worth $ 300 in the form of the Bitcoin, with the words your files have been encrypted, and within three days, otherwise the amount will be doubled , but if payment is not done after seven days, files will be destroyed , and “Microsoft” published a security patch a few months ago to fill this gap, but many of the devices have not been updated.

The researcher indicates from the financial aspect, the payment of ransom is, whether to return the files or destroyed, to encourage such crimes, and for greater crimes in future.
As to suggest that in terms of security, the pirates will push states and security departments to save the confidential information of the State that directly affect its national security, and that its reservation is in a way of hard copy to avoid attacks.

In the same context , the company “Avast of information security ” spotted on a blog that there are more than 75 thousand attack in 99 countries, and ” the “al- Forcepoint Security Lbs “company specialized in the information security announced that it has spotted a ” big campaign of e – mails infected ” with the malicious informational virus , confirming the pace of attack with this Emails infected by the virus exceeded five million message per hour.

Specialists said that the attacks targeted organizations in Spain, Australia, Belgium, France, Germany, Italy and Mexico. As in the United States, the company “FedEx” for the express mail revealed about its exposure to an attack.
In Moscow , the Russian Interior Ministry announced that its computers had been exposed to “virus attack”, without stating whether it is related to the last global attack , targeting the systems of Interior Ministry and emergency health and the Bank “Sberbank” and “Maghaffon” Telecom company .

And also the BBC announced for attacks in Britain and the United States, China, Russia, Spain, Italy, Vietnam, Taiwan, and other countries, but it was not clear if the attacks were linked to each other.

And the public health service in Britain, HP was” exposed to the same attacks; disrupting the work of computers in many of the country’s hospitals, where the administration has tried to reassure the population by saying: “At this stage we have no elements to suggest that access to patient data,” but at the same time, it caused confusion in dozens of hospitals which were forced to cancel medical procedures and send ambulances to other hospitals, disrupting most British hospitals, as it hit super countries such as China and Russia.
In the same context, the National Center for the British electronic security said: “We are aware that these attacks on the emergency services have a significant impact on patients and their families and we do our best by all efforts in order to re-operate of these vital organs.”

It warned both the United States and Britain about a wave of simultaneous attacks in many countries by a malicious informational program called “I am Dekkerpetr” in order to obtain financial ransoms.

According to available information, the pirates took advantage of a gap in the systems of running “Windows” noting that it was disclosed in secret documents of the US National Security Agency , “NSA” that it was pirated creating a wave of global concern, and these cyber attacks raised , that targeted a number of organizations in about 74 countries , a concern of experts of the information security; because the malicious program according to these experts is locking the files of the targeted users and forced them to pay an amount of money in the form of the cryptocurrency Bitcoin in exchange for reopening it .

We conclude that the implications of these many attacks, including: political, strategic, economic, commercial, military, and most importantly get the information, industrial espionage, or pirating of information concerning national security, underscoring the great danger to the political, economic and strategic and military situation on the targeted countries, where they can, for example , through similar attacks to control the dams and sources of energy , and flooding entire cities, and the results may be disastrous, also it aims to destroy the information and steal it and delete it, and creating an imbalance in the electronic security.

To counter the mail attack , techniques must be used to get rid of the virus and as the protection system goes through many stages to secure the facility, by running the protection systems and constantly update them, and make an external reserve copy for the data, and forms of information security teams within the facility, and to increase awareness among the staff responsible for the security of information at the facility, and do not browse suspicious sites, and do not download files from unreliable sites, and the use of anti – virus programs, and periodically updated.

Economic Studies Unit

Rawabet Center for Research and Strategic Studies