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Why is the Middle East losing so much money to cybercrime?

Saudi Arabia and the UAE sit at the top of a UN agency’s global list for cybersecurity. But at the same time, they lose millions to cybercrime every year — and the number keeps rising. Cybercrime costs governments and businesses trillions of dollars every year. But it costs some more than others. In 2023, cybercrime in the Middle East cost just over $8 million (€7.2 million) per incident, according to research funded by IBM that looked into data breaches in 16 countries. That puts Sau
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