by Grace Johansson
January 18, 2018
Cyber-crime joins environmental disasters, large-scale involuntary migration and illicit trade as one of the most notable risks in the world this year, according to the latest Global Risks Report just brought out by WEF.
The main issue globally, as with previous years, still remains as weapons of mass destruction, according to CNBC, which reported on the WEF Global Risks Report, however, now the next three most notable risks are environmental concerns because of how much damage they cause to land and property. To gather the top most notable risks for 2018 almost 1,000 global experts were surveyed on their views on what are the biggest risks to the world at the minute. The risks ranged in categories of technological, economical, societal, environmental and geopolitical.
The top five most likely events to happen this year globally, from most to least likely are: extreme weather events, natural disasters, cyber-attacks, data fraud or theft and failure of climate-change mitigation and adaptation. This definitely means that companies should pay attention and secure their systems so that they do not fall victim to attacks this year as cyber-attacks are considered so likely.
The top five most likely list however is slightly different to the list of the five events most likely to have the biggest global impact, they are: weapons of mass destruction, extreme weather events, natural disasters, failure of climate-change mitigation and adaptation and water crises.
Of the 1,000 global experts surveyed, 59 percent believed there would be intensified global risks in 2018, yet seven percent believed there would be a decline in the amount of risks globally. Since 2008 there has never been that much concern expressed about the imminent threat of cyber-attacks, but that has changed, probably due to how much technology has developed and grown, as well as the fact it has become so much more accessible to so many more people in different ways.
Rob Wilkinson, corporate security specialist at security company Smoothwall commented to SC Media UK on the cost of a global cyber-attack what everyone can do to combat risks: “The new Global Risks Report from the WEF highlights the worst kept secret in the industry: cyber-attacks pose one of the biggest threats to the world as we know it. From governmental systems, through to hospitals and even military institutions (the very fabric of which keeps a society stable, protected and functioning), these could all be targeted by a wave hackers intent on causing havoc and chaos – often for no monetary reward. The cost of a global cyber-hack is thought to be £92 billion, but what would happen in a worldwide super attack whereby the majority of the world’s fundamental defence, healthcare and other systems were so badly affected as to be unusable and obsolete?