New and more difficult cybersecurity threats face the UAE healthcare industry in the post-pandemic world. There are five key risks that internal audit firms in Dubai UAE teams should be aware of, combining data breach disclosure trends with increased work-from-home policies and the high level of fatigue and stress among healthcare workers.
These are the top cybersecurity threats
- Shadow IT
- Endpoint Exposure
- Data Piracy (ransomware)
- Cloud Computing
As the 2020 pandemic progressed, the number of phishing attacks increased dramatically. October 2020 saw a huge spike in phishing attacks. This involved many providers and millions upon millions of customer records. Phishing has been the main cause of most cyberattacks against healthcare over the years. IBM reported that 95% of breaches were caused by human error.
According to an IBM report, 90% of security breaches are caused when users click on things they shouldn’t. Many frontline workers now feel more fatigued and are more likely open phishing email without fully understanding the consequences.
Shadow IT is when non-IT departments buy technology such as software and hardware without IT Department knowledge. This problem can also be extended to web-enabled devices and Internet-of-Things equipment. The risk of exposure can be greatly increased by adding unsupported software or unpatched devices.
Shadow IT exposes Dubai, UAE companies to additional risk from people connecting to your network using their personal devices. If employees are rogue, the entire network can be exposed to their personal security practices, regardless of how good or poor.
The number of endpoints that connect to your network from people who work remotely has increased exponentially. Your network could be exposed, similar to Shadow IT. This includes employees’ endpoints outside the firewall, such as laptops and mobile devices, printers and IoT devices such voice assistants and thermostats.
Ransomware and Data Piracy
In the US for example, hackers stole the data of the UCSF Medical School and took over their servers. UCSF Medical School had to pay $1.14M ransom. This is a case that could affect schools and other institutions in Dubai and UAE.
Hackers usually gain access to compromised networks by sending phishing emails and manually deploying ransomware. Anti-phishing, vulnerability scans, and anti-spam help to prevent attacks and reduce the risk of a network being restored.
Over the last five years, cloud computing has seen a huge rise in usage. To gain access to the cloud environment, hackers are using cloud applications for remote exploit. Hackers are also exploiting security flaws in the end-user configurations of applications that connect to cloud. These two weaknesses are most commonly caused by employees setting up cloud apps on their own, without consulting cloud security professionals.
The Assistance of Internal Audit Firms in Dubai
As one of the leading internal audit companies in Dubai, our role has expanded to include advising management about the most important risks that could prevent them from reaching their strategic goals. Cybersecurity is a risk that can be costly and one of the most important in healthcare. It is essential to constantly update your audit plan in order to assess the cyber risk landscape and consider the impact of working remotely or under extreme stress.
Importance of Hiring Independent Healthcare Internal Audit Services in Dubai and UAE
Evaluation of Internal Controls
Internal audits are necessary to assess the effectiveness and design of internal controls. This will give assurance to management. Internal audit services in Dubai, UAE are designed to find any gaps in internal controls and make recommendations. An internal audit is a process that aims to identify and prevent fraud, misappropriation and improves financial reliability.
Evaluate the Risk Management Processes
Today’s globalization and technological advances have made business in Dubai, U.A.E very dynamic. There are many operational, technological, financial, legal and compliance risks. Internal audits are used to identify and suggest ways to mitigate or transfer risks. They assess the effectiveness of the organization’s risk management systems and verify that they are working properly.
Protect your assets
From the moment he establishes the company, every businessman invests minimal in assets. Over time, these assets can be stolen or misappropriated. U.A.E provides internal audit services in Dubai. This helps to prevent theft and misappropriation by setting up appropriate internal controls over the acquisition, use, and disposal of assets.
Effective and timely management reporting
Internal audits provide financial and accounting teams with flawless management reporting. Through regular management reporting, the internal audit function examines the business performance in relation to budgets and previous periods. It identifies trends as well as variances and causes. The internal auditor reviews the profit and loss accounts, balance sheets, budget analysis. Before submitting the reports to management, the internal auditor reviews them. This allows the management to make timely decisions and plan accordingly.
Offers Process Improvements and Value Additions
An internal audit is a critical part of promoting value-adds and improvements to existing business processes. It elevates industry standards and eliminates obsolete and redundant processes. This opens up the door to new and better ways of doing business. It increases productivity, efficiency, quality, and growth for employees.
Call for more information about our audit services in Dubai and UAE.