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Keep your Accounting Data Safe from Cyber Attacks in Dubai

Accounting

While running your business in the Dubai, you cannot just make decisions according to your gut feeling, on the contrary, you have to think of decisions only after proper planning and discussion of facts and maybe also considering the present situation of your company. This analysis is possible only if you have information and data about your company, which may include the ledgers, bank statements, income tax returns, the records of the financial transactions of your company. 

This data empowers you to make decisions for the company’s betterment and also tells you is the company strong enough to support your decision. Companies in Dubai nowadays hire analysts who analyze this data and finds out the trend in them and helps you understand your company well. You can just keep thinking that your company runs in profit, but somewhere down there your employee might be hiding some issues or might be doing something wrong, then again it is these records and data which will tell you the reality and would become the whistleblower and warn you about the mishappening.

How can this data get into the wrong hands?

Currently, it is the time of computers, where every bit of data and information is fed to the computer system and stored safely in it. But is it really safe in it? The answer to this question is a big no. Technology obviously makes our work easy and fast, but with it also comes other setbacks, among which is this compromise that we do with this data’s security. In today’s day and time, a physical file kept in your house is safer than a file stored in your personal computer, even if you have multiple passwords to protect it. It would just take a few minutes for a hacker to crack those passwords and just dive into your company’s data, and if you think that why will someone want your company’s ledger or financial statements because those excel and word sheets won’t fetch any money, then you have just underestimated both your data and the hacker.

The threat posed by cyberattacks

After getting hold of your data, they often sell it to your rivals in the market, or sometimes they can even manipulate this data, which can cause great harm to your company. It would take just one computer for initiating a cyber-attack and getting into every computer of your company in Dubai. A cyberattack might not be a physical attack with weapons and all, but it is as dangerous and destructive as the one with weapons. 

Many companies in Dubai are facing the threat of malware attacks. The major reasons behind this increased threat perception being employees using the company’s IT assets inappropriately, storage and sharing of sensitive data through mobile devices, physical loss/theft of company-owned devices, and several others. Mobile phones have emerged as a source of major problems as numerous personnel try to use their devices to share crucial information, for the sake of convenience, which makes the data easily vulnerable to expert hackers.

Conditions in Dubai

Dubai is considered as a center of multinational companies, business firms from small scale companies to huge empires having turnovers in billions and lakhs of startups. This thing is that glitter of gold, which attracts cybercriminals to this country. Dubai is also considered as the hub of innovation. But we are forgetting that innovation is taking place not only for the good of mankind but also in fields of hacking and many other cybercrimes.

More than one million phishing attacks have been reported in  Dubai during the first quarter of 2019. This translates into a daily average of more than 12,000 threats. Mobile malware attacks reported an increase of 20% in the Dubai, touching the figure of 52,607 attacks during the first quarter of 2019. The threat to the important data of your company is increasing every year, necessitating your proper attention. 

Solutions to this problem

After hearing all this, you must have thought of hiring a few people who have knowledge in this field and forming a cybersecurity department in your company like you have departments for each thing like the accounts, IT. But keep in mind that with the discovery of new tech gadgets and technology every day, it is almost impossible to predict that in what new way can these cybercriminals attack your system and almost every day a new computer virus comes into the web. So now, just think and question yourself whether the department of cybersecurity which you were planning to have, would be capable and technologically that much advanced that they can fight with every new threat.

The answer will surely be a no. So, the solution to all your cybersecurity problems is to hire a company that can take care of all these things, and then you can fully invest your time and brain in the running of the company. This company would obviously charge you for this service of theirs, but that cost wouldn’t seem much after knowing that what harm can be caused to your company if they don’t protect you from those cybercriminals working tirelessly to have a sneak peek into your system.

What cybersecurity company does?

  • Identify those vulnerable areas which are prone to the attack and then looking for those loose ends through which these criminals might enter into the system.
  • Detect the possible threats on the web looking for your company’s data. Cybersecurity companies have software experts to look for threats and new viruses that are there on the web.
  • Protect your company’s data from every possible cyber-attack by creating proper software and hardware shields.
  • Respond to threats that might have just succeeded in entering your system and make this attack turn harmless by proper measures.

Ensuring the integrity of your accounting data and financial records in the Dubai is extremely important. So, you must invest adequate time and resources towards the resolution of this issue for the long-term benefit of your enterprise. 

Accounting Services for Key Sectors

  • Small and Medium-sized Enterprises (SMEs): The backbone of many economies.
  • Startups: Young companies needing a strong financial foundation.
  • Non-Profit Organizations: Maintaining transparent financial records for responsible resource allocation.
  • FinTech Companies: Navigating complex regulations and sensitive financial data.
  • E-commerce Businesses: Managing finances in a fast-paced online environment.
  • Healthcare: Ensuring proper coding and claims submission for healthcare providers.
  • Manufacturing: Optimizing operations through cost accounting and financial analysis.
  • Retail: Tracking inventory, analyzing trends, and optimizing profitability.
  • Construction: Managing project costs, tracking expenses, and ensuring timely payments.
  • Hospitality & Leisure: Optimizing revenue management and making data-driven decisions.
  • Professional Services: Streamlining billing, tracking expenses, and ensuring profitability.
  • Real Estate: Managing property income, expenses, and tax considerations.
  • Government:Maintaining accurate and transparent financial reporting for public funds.
  • Education: Managing budgets, tracking grants, and ensuring proper use of funds.
  • Information Technology: Optimizing IT budgets and ensuring efficient resource allocation.
  • Energy & Utilities: Managing complex billing structures and regulatory compliance.
  • Media & Entertainment: Tracking royalties, managing production costs, and optimizing content monetization.
  • Transportation & Logistics: Optimizing logistics networks, managing fuel costs, and ensuring efficient operations.
  • Professional Sports: Managing player salaries, sponsorships, and ensuring financial stability.
  • Agriculture: Maximizing crop yields, managing farm finances, and complying with regulations.
  • Mining & Resources: Managing resource extraction costs, complying with environmental regulations.
  • Manufacturing (Luxury Goods): Managing supply chains and finances for high-value products.
  • Arts & Culture: Securing funding, managing grants, and ensuring financial sustainability of artistic endeavors.
  • Environmental Services: Optimizing sustainability efforts and ensuring compliance with environmental regulations
  • Cybersecurity: Managing security risks and ensuring financial stability in a digital age.

For more information on this topic, please visit our Insights Section or Contact Us

For enquiries, call +971 5679 52590 / E-mail: info@aviaanaccounting.com

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