Cyber ​​risk increasing due to reliance on digital world during pandemic: WEF survey

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Cyber ​​risk

Geneva: With the onset of the third year of the COVID-19 pandemic, increasing reliance on digital systems has increased the risks associated with cyber security threats globally. Tension in relations between states, widespread frustration among youth, and digital inequality are among the top risks to the Indian economy, a new survey said on Tuesday.

Growing dependency on digital systems:

intensified by the response toCOVID-19—has fundamentally altered societies. At the same time, cybersecurity threats are growing and outpacing societies’ ability to effectively prevent or respond to them. Attacks on critical infrastructure, misinformation, fraud, and digital safety will impact public trust in digital systems and increase costs for all stakeholders. As attacks become more severe and broadly impactful, already-sharp tensions between governments impacted by cybercrime and governments complicit in their commission will rise as cybersecurity becomes another wedge for divergence, rather than cooperation, among nation-states.

Global Risk Report-2022, released by the World Economic Forum (WEF) ahead of its online Davos Agenda meeting next week, said the biggest concern globally is climate change-related risk. Five of the top 10 global risks are related to climate or the environment. The 17th edition of the report urges global leaders to think beyond the quarterly assessment and create policies that shape risk management for years to come.

cyber attack

According to the report, the top five risks are climate crisis, rising social inequality, increasing cyber risk, and uneven global revival. A global survey of experts found that only one in six people are optimistic and only one in ten believe a global recovery will accelerate. With regard to India, the report said that rifts between states, debt crisis, widespread despair among youth, and digital inequality are among the top risks.

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