WEF Says Cyber Attacks World’s Third Greatest Threat

The World Economic Forum ranks cyber attacks third behind extreme weather and natural disasters.
According to the WEF’s Global Risks Report 2018, cyber attacks and cyber warfare sit right behind extreme weather events and natural disasters in terms of what’s likely to cause the most disruption in the next five years, news outlets reported.
The World Economic Forum is a Swiss-based international organization concerned with improving the state of the world by “engaging business political, academic and other leaders of society to shape global, regional and industry agendas”.
Among the chief concerns listed by the WEF’s report is Ransomware, a particularly dangerous type of malware that encrypts an entire system and demands ransom in return for a key to decrypt it with. Almost 64% of all phishing emails sent during 2017 contained ransomware. And much like the 2017 report, the Internet of Things is also seen as a major vulnerability, especially in light of the lack of security currently being built into most devices by their vendors.
“Cybercriminals have an exponentially increasing number of potential targets, because the use of cloud services continues to accelerate and…

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