 Global Cyber Catastrophe Looms as Cybercrime Industry Soars

Business leaders anticipate a "catastrophic cyber event" according to the World Economic Forum (WEF).

Cybersecurity Ventures predicts the cybercrime industry to grow from $3 trillion in 2015 to a staggering $10.5 trillion by 2025.

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The unpredictability of cybercrime poses increasing threats to global security.

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WEF's Global Security Outlook Report 2023 reveals that 93% of cyber leaders and 86% of cyber business leaders believe geopolitical instability raises the likelihood

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of a catastrophic cyber event in the next two years, marking a significant increase compared to previous surveys.

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Recent incidents, such as the cyberattack targeting Ukrainian military capabilities and disrupting Europe's electricity production, highlight the severity and unexpected impact of cyber threats.

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Interpol Secretary-General emphasizes the urgent need for a coordinated worldwide response and enhanced action to combat this global threat.

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Albania's prime minister highlights the exponential growth of the cybercrime industry, positioning it as the third-largest global economy if it were a state.

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The alarming growth and potential devastation associated with cybercrime reinforce the need for proactive measures and preparation.

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