Economic Impact Of Cyber-Security Risks

Prof. Aman Aggarwal, a renowned Economist, and a Senior Vice-Chairman at the Indian Institute of Finance participate in Risk Roundup to discuss...

Prof. Aman Aggarwal, a renowned Economist, and a Senior Vice-Chairman at the Indian Institute of Finance participate in Risk Roundup to discuss the Economic Impact of Cyber-Security Risks.

Economic Impact of Cyber-Security Risks

As the digital global age continues the integration of computers, communities, and cultures, it also brings an unfamiliar compulsion for individuals and entities across nations: its government, industries, organizations, and academia (NGIOA) to come together, and work towards a collective security goal, within and across its geographical boundaries.

Each new cyber-attack or breach of information and data security brings nations on the path of the unprecedented robbery that has potential consequences of the greatest transfer of wealth in human history. This is a cause of great concern.

While these break-ins exist due to the lack of effective integrated security in cyberspace, geospace, and space, it is allowing hundreds of thousands of pages of ideas, designs, business plans, blueprints, and other forms of intellectual property taken without knowledge or permission from entities across nations: its government, industries, organizations, and academia (NGIOA). Evaluating the cyber-thefts and their impact in economic terms will help NGIOA understand the quality and quantity of its security efforts and the need for new security initiatives in cyberspace and geospace.

Time is now to understand the economic impact of cyber-security risks.

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