CYBER SECURITY
Global
Risks Report 2022 Press Conference
Cybersecurity failure Survey respondents ranked ‘ cybersecurity failure ’ among the top 10 risks that have worsened most since the start of the COVID-19 crisis . Moreover , 85 % of the Cybersecurity Leadership Community of the World Economic Forum stressed that ransomware is becoming a dangerously growing threat and presents a major concern for public safety .
At a regional level , ‘ cybersecurity failure ’ ranks as a top five risk in East Asia and the Pacific as well as in Europe , while Australia , Great Britain , Ireland and New Zealand ranked it as the number one risk . Many small , highly digitalised economies , such as Denmark , Israel , Japan , Taiwan ( China ), Singapore and the United Arab Emirates , also ranked the risk as a top five concern .
Already-stretched IT and cybersecurity professionals are under an increasing burden , not only because of the expansion of remote work but also because of the growing complexity of regulations for data and privacy , even though such regulations are critical to ensuring public trust in digital systems , the report found . There is also an undersupply of cyber professionals , a gap of more than three million worldwide , who can provide cyber leadership , test and secure systems , and train people in digital hygiene . As with other key commodities , a continued lack of cybersecurity professionals could ultimately hamper economic growth , although new initiatives to “ democratise ” cybersecurity , for example , by providing free cybersecurity risk management tools , could help fill some of the gaps for small businesses or other institutions , the report said .
The report talked of concerns that quantum computing could be powerful enough to break encryption keys , which poses a significant security risk because of the sensitivity and criticality of the financial , personal and other data protected by these
46 March 2022