Cyber-Security One of Top “Risks to Watch” in New Report

The world is in no position to face major new shocks, given the way the global financial crisis has reduced economic resilience, concludes the sixth edition of Global Risks 2011. Yet the report lays out a series of “ever-greater concerns regarding global risks, the prospect of rapid contagion through increasingly connected systems and the threat of disastrous impacts.”

Topping the list of five “risks to watch” with the potential for “severe, unexpected or underappreciated consequences,” are cyber-security issues, including “the growing prevalence of cyber theft to the little-understood possibility of all-out cyber warfare.”

In a section titled CyberSecurity, four scenarios are illuminated: Cyber-theft, cyber-espionage, cyber-war and cyber-terrorism. Cyber-theft is a threat from “entrepreneurial individuals to shell corporations built with the hope of economic gains offset by acceptable risks,” the report says.

Cyber-espionage “has brought the age-old practice of intelligence-gathering into a new era. Particularly insidious, as has repeatedly been shown in the past two decades, is the use of such techniques not only by countries generally understood as enemies but also by friendly allies,” according to the report.

Cyber-war and cyber-terrorism are described as little known by the general public and little-understood by experts.

To read the full report, click here:
http://riskreport.weforum.org