Michael Goedker, Founder and CEO of HAKDEFNET based in Germany, participate in Risk Roundup to discuss “Impact of Cyber-Security Risks on Global Business”.
Cyber-Security Risks – Impact on Global Business
Cyberspace has brought an increasingly tempting opportunity for criminals, activists, spies, and terrorists that are interested in either making money, get noticed, cause disruption, or even bring down an individual or an entity across nations: its government, industries, organizations, and academia (NGIOA) through cyber-attacks. What is the impact of cyber-security risks on global business?
Cybercrime is no longer a dark and secret phenomenon limited to just a few opportunists scattered across nations. Cyber-criminals are serious professionals that are on the rise as “cyber-crime” seems to be becoming a rapid and profitable growth industry. From financial crime and corporate espionage to state-sponsored terrorism, cyberspace has now become a safe haven for all kinds of criminal activities that are very profitable.
Moreover, with the lack of integrated global security framework across cyberspace, geospace, space (CGS), and in the absence of global rules and standards, nations are allowing free reign to this un-welcome industry. In addition, it has also been reported that the investment required for cyber-crime is insignificant, whereas the returns are heard to be great. As a result, the threat posed by cyber-crime is growing rapidly and exponentially.
When the risks seem to be very low for cyber-crimes and cybercriminals, the unchecked growth is costing the global economy billions of dollars. While there is an attempt to discuss the cost of cyber-crime and cyber-espionage, it is equally important to evaluate the damage to its victims: that is individuals, businesses, industries, nations, and the global economy.
For each and every entity across NGIOA, there is no escaping the blatant realities of today’s interconnected and inter-dependent digital global age—and the complex risks it brings to each entity across NGIOA in CGS. Time is now to talk about the impact of cyber-security risks on global business.
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About the Guest
Michael Goedker is the Founder and CEO of HAKDEFNET based in Germany.
About Risk Group LLC
Risk Group LLC is a leading strategic security risk research and reporting organization.
Copyright Risk Group LLC. All Rights Reserved
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