Allianz have released their Risk Barometer for 2022, and cyber attacks are top of the year. Cyber crime is estimated to cost the global economy over US$1 Trillion, due to three main factors:

– The rise in ransomware
– The growth of the digital economy, and companies increasing reliance on this
– The shift to remote working, putting individual workers at more risk

These trends really do reflect the direction our global economy is moving, and business leaders are right to see this as a top threat. Companies are recognising that, as useful as digital platforms and tools are in reaching customers, there are risks to be considered.

The Covid pandemic has also shifted the boundaries of the workplace, putting workers outside the protection of the traditional corporate network, and exposing them to more direct threats. Securing user devices and employee education are key steps in supporting them in working remotely.

The Allianz Risk Barometer can be seen at: