Cyber-attacks are the third most likely global risk for 2018, behind extreme weather conditions and natural disasters.
That’s according to findings from the World Economic Forum’s Global Risk Report 2018, launched at a press conference today in central London.
It is the first time that cyber-attacks per se have made the Forum’s top five global risks in terms of likelihood since 2014, with data fraud or theft also listed in fourth place this year.
What that shows, as outlined in the latest report, is just how much cyber-risks have intensified, particularly in 2017, both in their prevalence and disruptive potential. Notable examples were the WannaCry attack, which affected 300,000 computers across 150 countries, and NotPetya, which caused quarterly losses of $300m for a number of impacted businesses.
Speaking at the press conference Margareta Drzeniek-Hanouz, head of economic progress, World Economic Forum, said that cyber-risks are affecting society and the economy in “new, broader ways,” impacting not just the corporate sector but also government infrastructures, the geopolitical sphere and society in general.
