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We live in an era defined by recurring crises. When the global pandemic disrupted once-reliable supply chains in 2020, and two years later the globe was hit by an unanticipated energy crisis, businesses of all sizes were forced to reckon with the fact that their risk management practices might not be as robust as they thought

As Saudi Arabia moves towards an age of increased digital participation, local financial institutions have begun to digitise their services to keep up with the global trend. While this shift towards modernisation offers vast potential benefits for businesses and consumers alike, it also introduces new cyber security risks, which must be addressed.

Traditional risk management has been an essential facet of every large enterprise for decades. However, this framework faces certain limitations that prevent it from fully addressing business risk in the current landscape.

The cyber security landscape is constantly evolving, and businesses must stay ahead of the latest threats to protect their data and networks. In Saudi Arabia, the importance of cyber security is becoming increasingly clear as the country moves towards Vision 2030.