© Copyright Acquisition International 2025 - All Rights Reserved.

Article Image - Cybersecurity failure among 4 most threatening short-term global risks in 2021
Posted 28th April 2021

Cybersecurity failure among 4 most threatening short-term global risks in 2021

Cybersecurity as a facet of growing CSR demands.

Mouse Scroll AnimationScroll to keep reading

Let us help promote your business to a wider following.

Cybersecurity failure among 4 most threatening short-term global risks in 2021

cybersecurity

According to the World Economic Forum’s (WEF) 2021 Global Risk Perception Survey, cybersecurity failure ranks as the fourth most threatening short-term global risk, singled out by 39% of the respondents. With personal data becoming a driving force of the fourth industrial revolution, ethical approach and responsible data management are among the goals of corporate social responsibility (CSR).

SASB Materiality Map’s data show that customer privacy and data security issues are likely to be a relevant CSR issue for more than half of the companies operating in the software & IT service industry. Enterprises are responsible for keeping their clients’ and contractors’ data safe, in addition to securing their own corporate information.

Today, data is a product of economic activity and the material for further growth. Private information, however, is a part of everyone’s identity, and no measures can be too strict in trying to protect it. Appropriate and robust security measures should be every company’s commitment to society.

Employees lack digital literacy

In 2021, global cybercrime is estimated to cause $11.4 million of damage per minute. In an interconnected and digital world, collected data is no longer a simple asset and requires appropriate measures and a company’s social responsibility to secure it.

While growing reliance on digital tools and network connections bring progress, not everyone benefits equally. Socially responsible businesses should be also aware of those unable to keep up with the change. For instance, there are 1.9 million households in the UK without internet access, and many rely solely on pay-as-you-go services.

Despite the pandemic having proved the majority’s ability to telework, the WEF’s Global Threats Report has also found that a worrying 60% of adults lacked basic digital skills when schools and workplaces shifted to remote work. With 85% of companies planning to accelerate the digitization of the workplace, indifference might aggravate the situation.

“Digital literacy is a key skill in today’s transforming world, contributing to growth and economic development. Cybersecurity issues also have a role to play, as people lacking digital knowledge are vulnerable to social engineering attacks and other forms of scams,” says Juta Gurinaviciute, the CTO at NordVPN Teams.

Data privacy is only one part of the story, as 23% of countries censor or ban independent news, limiting their citizens’ access to digital resources and preventing them from political action. In such scenarios, cybersecurity tools, such as VPNs, help those oppressed overcome the restrictions and drive change.

Cybersecurity at the core of every company’s resilience strategy

With more regulations put to action, people are becoming conscious about the data that corporations gather. They can now question the misuse of information, and authorities have more power to investigate those cases.

Enterprises now must comply with General Data Protection Regulation (GDPR) guidelines, California Consumer Privacy Act (CCPA), and other rulings in a set of countries, but the deliberate initiative of data transparency contributes to the company’s CSR and builds customer trust.

“If security is perceived as a social imperative, by protecting data businesses will contribute to the overall information hygiene. Malicious actors, leveraging vulnerabilities and people’s ignorance, shouldn’t only be treated as criminals, but as a social issue as well. By protecting clients’ data as strictly as their own intelligence, companies will contribute to the safety of cyberspace,” comments NordVPN Teams’ CTO.

More than half of chief information security officers (CISOs) plan to implement cybersecurity into every business decision they make. No doubt it will soon find its way into CSR manifestos.

To accelerate change, organizations can integrate cybersecurity goals among other objectives and measure them accordingly. By making cybersecurity one of the KPIs, companies can contribute to the thriving digital economy and build common resilience.

Categories: Legal


You Might Also Like
Read Full PostRead - Eye Icon
4 Top Tips for Startup Funding
Finance
06/04/20224 Top Tips for Startup Funding

Starting a business comes with a range of challenges and obstacles and it can be overwhelming to know where to begin. Here we share our 4 top tips on how to get started when seeking startup funding.

Read Full PostRead - Eye Icon
The Post-COVID Recovery is Facing Hurdles
Finance
29/04/2022The Post-COVID Recovery is Facing Hurdles

High inflation is the overriding theme in the markets currently. The US, EU, UK, and some emerging markets like Turkey are witnessing a rise in prices not seen in years or decades.

Read Full PostRead - Eye Icon
A Strategic Approach To Attract & Retain Gen Z Employees
News
30/05/2022A Strategic Approach To Attract & Retain Gen Z Employees

Suggested URL: strategic-approach-to-attract-retain-gen-z-employees Image Source: Pexels Engaging with employees aged under 25 is important for any organization which has ambitions for a prosperous future. And yet members of Gen Z have unique needs to meet, an

Read Full PostRead - Eye Icon
CVC Capital Partners Acquisition of PKP Energetyka
Finance
03/08/2015CVC Capital Partners Acquisition of PKP Energetyka

CVC Capital Partners Acquisition of PKP Energetyka

Read Full PostRead - Eye Icon
Bristow acquisition of Airnorth
Finance
19/03/2015Bristow acquisition of Airnorth

Bristow Group Inc. (NYSE: BRS), a leading provider of helicopter services to the worldwide offshore energy industry, announced that its affiliate, Bristow Helicopters Australia Pty Ltd., acquired an 85 - percent interest in Airnorth, [Inc., Ltd. and subsidiari

Read Full PostRead - Eye Icon
The Growing Importance of Software Asset Management for Businesses
News
17/06/2024The Growing Importance of Software Asset Management for Businesses

Software has become an integral part of business operations across all industries. From productivity tools and communication platforms to specialized applications and enterprise solutions, the reliance on software is undeniable.

Read Full PostRead - Eye Icon
Helsingborg-Helsingør route
Finance
19/03/2015Helsingborg-Helsingør route

First State Investments has reached financial close for its acquisition of the Helsingborg - Helsingør ferry route, raising about €230 million ($261 million) equivalent of debt from three commercial banks and a debt fund. A joint-venture between ferry opera

Read Full PostRead - Eye Icon
Innovative Crowdsourced Penetration Testing
Innovation
22/07/2019Innovative Crowdsourced Penetration Testing

Penetration testing is supposed to help organizations find and fix vulnerabilities in their systems before criminal hackers can exploit them.

Read Full PostRead - Eye Icon
Spotlight on Mike Lord, CEO of Stiltz Home Lifts
News
21/01/2021Spotlight on Mike Lord, CEO of Stiltz Home Lifts

ood leadership has become an utterly crucial variable in business success over the last year. The COVID-19 pandemic has proven to be a baptism of fire for young businesses and challenged established companies to be adaptive and agile in a time defined by uncer



Our Trusted Brands

Acquisition International is a flagship brand of AI Global Media. AI Global Media is a B2B enterprise and are committed to creating engaging content allowing businesses to market their services to a larger global audience. We have 14 unique brands, each of which serves a specific industry or region. Each brand covers the latest news in its sector and publishes a digital magazine and newsletter which is read by a global audience.

Arrow