News

Netskope Predicts Future Middle East Cybersecurity Trends

Experts from Netskope contemplate what’s on the horizon for phishing, ransomware, and other security threats as we approach 2023.

Published

2 years ago

November 28, 2022

Nour Nasir

netskope predicts future middle east cybersecurity trends

Netskope, a global Secure Access Service Edge (SASE) leader, has just revealed the results of its annual investigation into the state of cybersecurity in the Middle East as 2022 comes to an end.

In a region that’s digitizing at a rapid rate, Netskope anticipates several new trends in cyber attacker behavior, as well as a rise in software supply chain attacks and various other cloud vulnerabilities.

“Similar to how we have done this in years past, we have sourced these predictions from across our team of internal experts; our global and regional CIOs, CISOs, CTOs, and the specialists in our Threat Labs. Some of these predictions touch on topics that you may have seen discussed this year, considering how they will evolve, while others feature technologies and dynamics that may be completely new on the radar of Middle Eastern organizations for 2023,” says Jonathan Mepsted, VP for Netskope, Middle East and Africa.

So, what kinds of cyber threats do we expect to see intensifying in 2023? For starters, ransomware and extortion-style scams will be more prolific than ever. In addition, confidential and highly sensitive data will become vulnerable to sophisticated encryption attacks from professional extortion groups such as LAPSUS$ and RansomHouse.

Also Read: How To Find The Best Remote Work Opportunities In The Middle East

As well as a rise in well-known online hacks and scams, Netskope believes that software supply chain attacks will also intensify — especially as we become more accepting of the concept of the “industrial metaverse”. Supply chain automation and optimization are on the rise, but bring a set of unique challenges for security experts.

This year, to be better prepared for emerging trends and threat models, Netskope’s NewEdge infrastructure added five new data centers in the Middle East region, supporting businesses across a wide range of sectors, including finance, telecom, and energy.

News

Mamo Completes $3.4M Funding Round To Enhance Fintech Services

The startup will use the influx of cash to expand into Saudi Arabia and across the wider GCC while improving its product offering.

Published

1 day ago

July 25, 2024

Nour Nasir

Mamo

UAE-based fintech Mamo has announced the completion of a $3.4 million funding round that will help the startup extend its market presence and improve its product offering. Investors included 4DX Ventures, the Dubai Future District Fund and Cyfr Capital.

Mamo’s platform offers “payment collection, corporate cards and expense management” to help small and medium-sized businesses consolidate and streamline their operations. With the latest influx of capital, Mamo will further develop its comprehensive suite of services and begin testing its product lines in Saudi Arabia, further extending its footprint across the GCC.

Imad Gharazeddine, co-founder and CEO of Mamo, stated: “We’ve been in the market for a while now and are incredibly proud of what our team has achieved. The holistic and expansive nature of our product offering has helped us continue to grow sustainably. This additional funding will allow us to reach our medium-term goals even faster. The support from new and existing investors is a testament to our strong expertise and the ability to deliver on our customer promise”.

Daniel Marlo, General Partner of lead investor 4DX Ventures, added: “We have immense trust in Imad’s vision, leadership and Mamo’s innovative approach to provide a user-friendly and comprehensive financial solution for SMEs that makes financial management more accessible and efficient. We are proud to partner with them and support their mission”.

Also Read: A Guide To Digital Payment Methods In The Middle East

Amer Fatayer, Managing Director of Dubai Future District Fund’s investment team, also commented: “Mamo’s localized product lines serve as an infrastructure for SME payments and spend management in UAE, a segment that is underserved by the country’s current banking infrastructure. The team has taken a product-first approach to consolidating SMEs’ financial journeys and building a fintech solution deeply embedded in a business’s core operations”.

To date, Mamo has raised around $13 million in investment funding and now boasts a team of 30 people. The company’s intuitive financial services platform has allowed over 1,000 businesses to consolidate their financial operations and significantly reduce payment fees.