A professional hacker hijacked internal e-mails between departments of a Dubai-based trading firm to dupe staff members into invoicing funds to a foreign bank account. UAE-based cybersecurity company Torrid Networks detected the incident, which they say is a sign of increasing cybercrime in the country. In an interview with Khaleej Times, Torrid Network CEO and founder Dhruv Soi said the company could have suffered significant financial losses if the cyberattack had not been detected early on.

Read More…