While Middle East e-commerce is booming during the December gift season, customers need to better protect their online identity, according to an e-security expert.
The Middle East’s e-commerce market is projected to grow from USD $9 billion in 2012 to USD $15 billion in 2015, according to a recent survey from PayPal. The UAE is a particularly robust market, with e-commerce slated to grow from USD 2.9 billion in 2012 to USD 5.1 billion in 2015.
However, with a 64 percent rise in cyberattacks in December, security is the top concern for the Middle East’s 30 million online customers, per PayPal. E-retailers also see a 55 percent jump in shopping volume, according to a survey by RSA Security and The Ponemon Institute.
“While December is one of the most popular seasons to buy gifts for friends and family online, customers in MENA need to be aware of cybersecurity risks that could lead to stolen identity and malware attacks,” said James Ryan, Chief Privacy Officer, AnchorFree.
“In order to protect themselves, customers should install security software and patches, secure their home or public Wi-Fi network, shop only on trusted shopping websites, use strong passwords, and pay by credit card or trusted online payment services like PayPal.”
Worldwide, cybercrime has rocketed to one of the top four economic crimes, with 23 percent of companies saying they had suffered one more cybercrime incidents in the past 12 months, according to the Global Economic Crime Survey from PwC.
