Text CG2A1-I
Industry, government and law enforcement agencies are in
race to keep up with the vast cybercrime ecosystem, experts say,
as cybercriminals and malicious actors increasingly exploit the
digital economy. “The global law enforcement community is
struggling with the sheer volume of cyber-related crimes,” Jürgen
Stock, the Secretary-General of INTERPOL, said during the
World Economic Forum’s 2024 Annual Meeting in Davos. “The
crime statistics only go in one direction, which is up.”
Cybercrime rose significantly during the COVID-19
pandemic. Currently, large and sophisticated cybercrimes continue
to be deployed today. They are also becoming more expensive for
the targeted companies and organizations. The average global cost
of a data breach reached US$ 4.45 million last year, according to
the latest research, the highest level ever recorded.
In Davos, experts maintain that so-called security by
design is key to bolstering cyber resilience. The concept of
security by design entails building cybersecurity protocols into
software and hardware products from the earliest development
stage. This approach allows safeguards to be embedded at each
state of operation and limits the chances of cybersecurity
vulnerabilities emerging as products develop and are put into use.
“It has become an imperative for the digital public
infrastructure,” Debjani Ghosh, President of Indian technology
non-profit NASSCOM, said of security by design.
The international community needs to “start thinking
about the processes we can put in place to make sure that we can
support each other and defend each other’s public
infrastructures,” Sadie Creese, a Professor of Cybersecurity at the
University of Oxford, said in Davos.
Internet: <weforum.org> (adapted).
Based on text CG2A1-I, judge the following item.