This week in cybersecurity from the editors at Cybercrime Magazine
Sausalito, Calif. – Oct. 19, 2026
– Read the Full Story in Arab News
Cybersecurity Ventures projected that global cybercrime damages would reach $10.5 trillion annually by 2025, up from $3 trillion in 2015 and $6 trillion in 2021, according to Cybercrime Magazine.
The figures underscore the scale of the threat facing an interconnected world, where a single breach can trigger financial losses, expose confidential information and undermine an organization’s reputation.
For Saudi Arabia, cybersecurity has assumed particular importance as the Kingdom accelerates its digital transformation.
The expansion of e-government services and the rapid adoption of electronic payments have made secure digital infrastructure indispensable. Arab News reports that electronic payments accounted for 85 percent of retail payments in 2025, surpassing the Saudi Vision 2030 target of 70 percent.
This progress highlights the growing importance of protecting the systems on which individuals, businesses and public institutions increasingly depend.
The Kingdom has also ranked first globally in the cybersecurity indicator of the IMD World Competitiveness Yearbook for three consecutive years through 2026
As Saudi Arabia advances the ambitions of Vision 2030, a secure digital environment will be vital to maintaining public confidence, encouraging innovation and protecting the gains of economic transformation.
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