Mitigating Cybersecurity risks in the Middle East: An Analysis of Financial crime Trends and Countermeasures

This research aims to investigate the evolving landscape of cybersecurity threats and financial crimes in the Middle East region, with a focus on the vulnerabilities and countermeasures within the region's financial sector. The study analyzes prevalent cyber threats, such as phishing attacks, ransomware, and fraud schemes targeting financial institutions and individuals in the Middle East. A diversified strategy is needed to protect the Middle East's banking industry from cyberattacks. Several important insights on the complex relationship between cybersecurity and financial crime in the Middle East are revealed by synthesizing the literature study, the proposed framework, and the assessments of the available data. The dynamic character of cyber threats, the influence of technical progress, regulatory structures, and cooperative endeavors are crucial factors that mold the resilience of the financial industry in the area. Stakeholders can strengthen their resilience and add to the continuing conversation about Middle Eastern financial system security by adopting these principles.