The third Global Cybersecurity Forum in Riyadh brought together world leaders and businesses to discuss and take action to combat cybercrime. Under the theme ‘Setting Common Priorities in Cyberspace’, the event encourages dialogue, integrates the key factors shaping it and supports those working for cyber stability.
Former Minister Dr. “We have a common enemy, and our enemy is misinformation. It is being attacked. Robbery is taking place in cyberspace. And this is something that we must evaluate and value for all humanity,” Margarete Schramböck said. Austria told Euronews on Digital and Economic Affairs.
According to the World Economic Forum, 86% of business leaders believe a catastrophic cyber incident is likely to occur within the next two years. This coincides with a report from Interpol that ranked cybercrime as one of the top five growing threats globally.
“We see the biggest threat for us as ransomware attacks,” says Bernardo Pillot, INTERPOL Deputy Director of Cybercrime Operations and Threat Management.
“It’s been continuing to grow for the last three years. We’re looking at attacks against not just large businesses, but also small, medium-sized businesses, healthcare giants, education systems and critical infrastructure.”
We work together to deliver a safer cyber future
Globally, cybercrime is expected to cost victims approximately €7.6 trillion by the end of the year, according to Cybersecurity Ventures. Collaboration and unification of world leaders and businesses was a universal talking point in the call for action against impending cyber threats.
Jose Manuel Barroso, Former President of the European Commission and Former Prime Minister of Portugal, said: “When I was President of the Commission, I attended the G20 summit from 2008 to 2014. Despite all the differences during that period, there is generally good cooperation between the USA, China and the European Union. It is so today “I cannot say that it is. We have seen that the level of cooperation, the sincerity in global cooperation has clearly fallen.”
Some of the most serious threats in the cyber world are those against children. WeProtect Global Alliance is an organization fighting child sexual abuse and exploitation online.
“This is something that has increased dramatically over the last two years,” said Chief Executive Iain Drennan. “Last month we published a global threat assessment showing an 87% increase, and we are also seeing growth in AI-powered exploits and financially motivated extortion.”