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Cyber-attacks have the potential to completely paralyse critical infrastructure. This is one of the greatest risks the world is currently facing, according to the World Economic Forum in a research report on the greatest threats of 2019. In addition to cyber-attacks, there are also data fraud and insufficient consideration of and response to climate change in the top three.

Each year, the World Economic Forum brings together business leaders, politicians and academics to help set the global agenda. This fourteenth annual edition of the report was written together with risk manager Marsh. In 2019, companies in particular will have to pay close attention, but governments will have to do more work when it comes to climate change,

Cyber-attacks and data breaches

Cyber-attacks and data breaches were still the third and fourth largest risks for 2018. Before that, extreme weather conditions and natural disasters were mentioned. This year, cyber-attacks and data leaks are in fourth and fifth place on the list, right after the nature-related risks that appear to be inherently linked to climate change.

82% of the experts surveyed indicated that they expect cyber attacks to pose a high risk in 2019. 80 percent also believe that the risk of cyber-attacks disrupting operations will increase significantly in 2019. The risk of cyber-attacks aimed at critical infrastructure is particularly dangerous.

It is therefore warned that the potential vulnerability of critical technological infrastructure has increasingly become a national security concern. This is also due to the increasing digitisation of the world and the increasing role played by the Internet of Things. Especially the IoT is a risk, because the devices are often not very secure.

Companies should therefore continue to focus on this, as well as to invest in network security. Continued underspending on critical infrastructure worldwide has a negative impact on economic progress and makes businesses and communities vulnerable to both cyber attacks and natural disasters, said John Drzik, president of Global Risk and Digital at Marsh. He therefore calls for an increase in expenditure in this area.

This news article was automatically translated from Dutch to give Techzine.eu a head start. All news articles after September 1, 2019 are written in native English and NOT translated. All our background stories are written in native English as well. For more information read our launch article.