In the lead-up to Black Hat MEA 2024 in Riyadh (November 26-28), Cisco, a global leader in networking and security, has unveiled the critical cybersecurity trends observed during the third quarter of 2024. The insights, drawn from the research of Cisco Talos (the firm’s renowned threat intelligence team) point to a significant surge in identity-based and ransomware attacks.

Between July and September 2024, identity-focused attacks (most notably those targeting credential theft), surged, representing 25% of Cisco’s incident response cases. These types of intrusions have become increasingly prevalent due to the accessibility of simple-to-use hacking tools.

Meanwhile, ransomware attacks continued to dominate the threat landscape, constituting approximately 40% of cases. The quarter saw the emergence of several new ransomware variants such as RansomHub, DragonForce and RCRU64, in addition to recurring threats like BlackByte and Cerber.

Education, financial services and the manufacturing industry faced the brunt of these attacks, collectively accounting for over 30% of reported breaches. This pattern mirrors trends identified in earlier quarters of 2024, suggesting hackers are consistently and deliberately targeting these industries.

Salman Faqeeh, Managing Director of Cisco Saudi Arabia, stated: “The rise in identity-based attacks and persistent ransomware threats reflect the evolving cyber landscape. At Cisco, our priority is equipping customers with advanced security solutions to bolster their digital resilience.” He added, “Black Hat MEA is an ideal forum to share threat insights and unveil our innovations that mitigate identity-based attacks, prevent breaches, and close exploit gaps”.

Also Read: Joby Begins Construction Of Dubai’s First Vertiport For Air Taxis

At Black Hat MEA 2024, Cisco will serve as a Strategic Sponsor under the theme “Innovating a New Era of Security,” showcasing its latest advancements in cybersecurity. A particular focus will be on securing AI-powered data centers and distributed environments, ensuring robust protection across all devices and applications.

Splunk, a cybersecurity company which is now part of Cisco, will also exhibit its own cutting-edge solutions, including next-generation Security Operations Centres (SOC) and tools for Operational Technology (OT) environments. Finally, Lothar Renner, Managing Director of Cisco Security, EMEA, is set to deliver a keynote titled “Redefining Security in the Age of AI,” spotlighting Cisco’s forward-looking approach to security in the evolving threat landscape.

Attendees at Black Hat MEA 2024 can visit Cisco at booth H1-T20 at the Riyadh Exhibition & Conference Centre between November 26-28.