Global CEOs Bracing for Cyber-enabled Fraud Surge

Cyber-enabled fraud has overtaken ransomware as the primary concern for CEOs worldwide, as highlighted in a World Economic Forum report. The study, which included insights from 804 global leaders, emphasizes AI's role in transforming cybersecurity, alongside challenges from geopolitical fragmentation and increasing fraud. Coordinated action is needed to enhance cyber resilience.

A World Economic Forum study reveals that cyber-enabled fraud now outpaces ransomware as the top concern for CEOs globally. With AI expected to reshape cybersecurity this year, the report highlights a rapidly evolving threat landscape.

According to the Global Cybersecurity Outlook, developed in collaboration with Accenture, artificial intelligence and geopolitical tensions are redefining cyber risks at an unprecedented pace. A survey of 804 global business leaders found weakening confidence in national cyber preparedness amid heightened geopolitical volatility, with 31% expressing doubts about responses to infrastructure attacks.

The report underscores AI's dual role in enhancing both offensive and defensive cyber capabilities. Jeremy Jurgens of WEF emphasizes the need for leaders to move beyond understanding threats to collective action. As cyber risks grow more interconnected, coordinated efforts across governments and businesses are crucial to building resilience in an AI-driven digital economy.

(With inputs from agencies.)