World Economic Forum names Cyber Attack as the top risk for the US, Canada, and Europe

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According to a survey conducted and published by the World Economic Forum (WEF), cyber-attacks are named as leading risks for business executives hailing from companies operating in Canada, the United States and Europe.

The study which was conducted in the association with Zurich Insurance Group and Marsh & McLennan Cos identified the top 5 risks which are creating a shutdown crisis for companies on a global scale.

WEF survey titled “Regional Risks for doing business in 2019,” says Unemployment, underemployment, energy price jolts, and fiscal crisis came into the listing of major threats to companies after cyber attacks. Astonishingly data fraud or theft which is related to Information Security stood tall in the list of top ten risks along with infrastructure failure.

Regionally, the top five risks in the United States are as follows- 1.) Cyber Attacks 2.) Data Frauds, 3.) Terrorist attacks, 4.) Critical information infrastructure breakdown and 5.) Failure of critical infrastructure

Coming to Canada the top 5 reported risks are 1.) Cyber Attacks, 2.) Data Fraud, 3.) Extreme weather events 4.) Energy Price Shock 5.) Failure of Regional and global governance

For Europe 1.) Cyber Attacks 2.) Asset Bubble 3.) Interstate conflict 4.) Energy Price Stock 5.) Fiscal Crisis stood as the top 5 risks.

Note- The risks lined up in the survey report titled “ Regional Risks for Doing Business 2019” are based on the 12,897 responses from executives in 133 economies and the survey was reportedly carried out from January to April 2019.

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Naveen Goud is a writer at Cybersecurity Insiders covering topics such as Mergers & Acquisitions, Startups, Cyber Attacks, Cloud Security and Mobile Security

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