Cybercrime remains the number one fear of businesses

Cybercrime remains the number one fear of businesses
Credit: Belga

Cybercrime tops the list of concerns of business leaders and security professionals worldwide, despite high inflation, energy worries and the war in Ukraine, according to a global report by industry insurer AGCS, a subsidiary of the Allianz Group.

Business disruption, including supply chain disruptions, is the second biggest fear.

In Belgium too, companies see cyber-attacks and business interruptions as the two biggest risks.

The energy crisis and political violence are now also among the top 10 risks in Belgium, occupying 4th and 9th place respectively. Damage to the reputation of one’s company also moved up – to 7th place.

In Belgium, natural disasters and climate change have slid down the rankings, replaced by more macroeconomic concerns such as inflation, the energy crisis and recession fears.

For the 12th edition of its report, GATS surveyed 2,712 security professionals and managers in 94 countries in Autumn last.

In Europe and the United States in particular, the ‘permacrisis’ due to the consequences of the pandemic and the economic and political impact of the war in Ukraine is a source of concern, Joachim Müller, chairman of the GATS board, commented.

This puts all businesses to the test, he said.

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