Cybersecurity must be seen as an enterprise risk-management imperative and with the impact on business resiliency and increased regulatory requirements for public and private sectors, it is now vital for organisations to demonstrate they have clear oversight says Rafi Brenner at Fortinet.
Cybercrime tactics such as phishing and social engineering, commonly used to infect critical systems with malware or ransomware, have reached epidemic levels. And there are no signs of it slowing down. According to Statista, the global cost of cybercrime is expected to increase by nearly 70% over the next five years, growing to $13.82 trillion by 2028.
Cyber incidents can damage corporate operations, brand reputation, trust, and financial conditions. They can cripple revenue-generating and service-delivery processes and materialise into legal and regulatory fines, adversely impacting a company’s financial performance and valuations. And in cases in which critical infrastructures are involved, those risks can also affect the environment and even put human lives at risk.
As a result, the World Economic Forum’s latest report on global risks ranks cyber as the most significant…
