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Khaleej Times
03-07-2025
- Business
- Khaleej Times
A CISO's guide to securing XIoT in the Middle East
The rapid expansion of the Internet of Things (IoT) is reshaping the physical and digital contours of modern infrastructure. From biometric gates at international airports to infusion pumps at hospitals, from ubiquitous surveillance devices to office peripherals of a mundane kind — the networked device universe is ubiquitous and exposed. This interconnected network offers clear functional benefits. However, as more devices communicate with each other, there are more entry points for cyberattacks. The numbers are staggering. The Middle East IoT market is projected to grow from $43.99 billion to $241.65 billion by 2030, a 449 per cent increase. Saudi Arabia alone commands nearly 40 per cent of the regional market, generating $10.22 billion in revenues. Yet, as organisations embrace XIoT (extended Internet of Things), security risks escalate. The Middle East saw a 211 per cent rise in Distributed Denial of Service (DDoS) attacks in 2024, while the average cost of a cyber breach now stands at $8.75 million. Mega-breaches — those affecting 50 to 60 million records — have soared to $375 million, up $43 million from 2023. To fully benefit from the tremendous value of IoT devices, they need to be secured and managed effectively. Proper security management ensures devices are protected from cyber threats, minimising vulnerabilities that attackers exploit. This involves comprehensive visibility into device usage, regular updates to firmware, strong authentication methods, and proactive monitoring to detect and respond swiftly to security incidents. Organisations should invest in robust cybersecurity frameworks to harness IoT's full potential safely and sustainably. For the modern CISO, the mandate extends beyond protection to building a resilient cybersecurity strategy — one that ensures rapid detection, response, and recovery. In today's threat landscape, resilience isn't optional; it's a strategic necessity for business continuity and trust. 1. Know what you own: The XIoT visibility challenge You cannot protect what you cannot see. Many organisations have thousands of connected devices, yet few have a complete inventory. From smart cameras to industrial sensors, these silent operators are often neglected, leaving security gaps. S teps to take: • Catalogue every device – Identify all XIoT endpoints across departments, from IT to operational technology (OT). • Assess security measures – Check for outdated firmware, default passwords, and unpatched vulnerabilities. • Engage stakeholders – Hold cross-functional meetings with IT, OT, and physical security teams to ensure all devices are accounted for. Visibility is the foundation of security. Without a real-time asset inventory, XIoT security is a guessing game. 2. Automate security fixes: Stay ahead of the threats Manual patching is a losing battle. With multiple vendors, different operating systems, and legacy devices, keeping up with security updates is impossible without automation. What to automate: • Eliminate default logins – Many devices ship with 'admin/admin' credentials. These must be changed immediately. • Firmware updates – Some vulnerabilities, like those in Z-Wave chipsets, require urgent patching. If updates are unavailable, devices must be segmented. • Standardise security settings – Enforce encryption, secure boot, and endpoint monitoring across all connected devices. • Pro tip: Not all XIoT devices can be patched. If an update is unavailable, limit access and segment networks to reduce risk. 3. Continuous monitoring: The watchtower approach Static defences are not enough. Attackers are evolving, and so must security teams. Continuous monitoring provides real-time visibility into suspicious behaviours, unauthorised access attempts, and misconfigured devices. Best practices: • Monitor device behaviour – Use AI-driven analytics to flag unusual activity, such as an XIoT device suddenly communicating with an unknown server. • Establish incident workflows – Ensure that alerts from security operation centers (SOCs) reach the right teams in real time — whether IT, OT, or physical security. • Leverage threat intelligence – Study patterns of attempted intrusions to adjust defenses accordingly. XIoT security is not just about detection — it's about rapid response. A CISO's playbook for XIoT security Securing XIoT in the Middle East demands a dynamic, strategic approach that matches the scale and speed of the growing threat landscape. The region's digital economy is accelerating, and the volume of connected devices is rapidly multiplying. To stay ahead, CISOs must proactively identify assets, automate defences, consistently monitor threats, and swiftly enforce response frameworks. Speed and scalability are critical organisations must transition swiftly from reactive strategies to proactive, automated, and ultimately autonomous security operations. Ultimately, it is leadership, not just technology, that drives robust xIoT security. By positioning cybersecurity as a long-term strategic investment, organisations can protect infrastructure, ensure operational resilience, maintain trust, and unlock the benefits of digital transformation safely. In our increasingly connected world, proactive protection is no longer optional — it's the smarter path forward. The writer is Middle East & Africa Vice President at Phosphorus Cybersecurity.
News.com.au
30-06-2025
- Business
- News.com.au
New FOMO pressure facing Geelong buyers
FOMO is being replaced with fear of missing out on bottom of the market prices as improving buyer urgency is helping Geelong's housing sector regain lost ground over the past year, new data shows. PropTrack's monthly Home Price Index revealed a .29 per cent lift in dwelling values in June, largely on the back of a more than $4000 rise in the median value of a house in the region. The data shows the .57 per cent rise in the median house value to $761,000 came as the median price for a unit slipped 1.53 per cent to $555,000. Solving a homeowner's worst nightmare Sneaky bank move costing you thousands The report showed prices in combined regional areas climbed .3 per cent in June, with annual growth of 6 per cent outpacing the combined capitals. While growth in the regions has been slower than the rebound seen across the capital cities in 2025, regional markets remain resilient, supported by affordability and lifestyle appeal, PropTrack senior economist Eleanor Creagh said. 'As interest rates have fallen, price momentum has strengthened and extended across the country, with all markets recording gains in June,' Ms Creagh said. 'Market momentum is building amid renewed buyer confidence and improved sentiment, buoyed by falling interest rates and expectations of another rate cut in July. 'However, the upturn remains measured as affordability constraints keep the pace of growth in check.' Improving market sentiment is being seen on the street, with more active buyers at inspections and making offers, Maxwell Collins Geelong agent Laura Vander Noord said. 'I've seen a lot of investors come back,' she said after securing recent transactions in Belmont and Breakwater with Melbourne investors. 'We've seen a lot more confidence and perhaps a little bit more urgency in buyers over the past month, which has been really reassuring to the vendors.' She said potential buyers were reacting to impact falling interest rates has had on other people in the market. 'You can feel the wind change and it happens very quickly and I can honestly say it';s happened,' Ms Vander Noord said. 'I've certainly done a lot more private inspections over the last six weeks than I've done in a long time. 'There's more a sense of urgency, because they know other people are and it's just social proof. 'A couple of buyers mentioned they're trying to get in quick before it goes up again.' Ms Creagh said further interest rate cuts expected later this year would ease borrowing costs, adding to the momentum in housing demand and reinforcing recent price growth. 'In addition, population growth and limited new supply are also placing upward pressure on prices, especially at the more affordable end of the market,' she said. 'With interest rates moving lower, these factors are likely to sustain price growth over the second half of 2025.'
