CYBER STORM RISING: NAVIGATING THE NEW DIGITAL RISK FRONTIER
One of the most complex and rapidly evolving risks to emerge in recent years has been catalysed by the digital age. Today, digital risks are a primary concern for organisations. Unlike traditional risks such as natural disasters or physical conflict, digital risks are often invisible, intangible, fast-moving and interconnected. A single vulnerability in the digital space can have far-reaching consequences, affecting companies and individuals globally. These risks are difficult to isolate and contain, often spreading through networks and infrastructure before organisations are even aware of the issue.
Digital risks can arise from the use of digital tools, platforms and technologies. In many respects, they are an unavoidable by-product of digital transformation and technological advancement. They encompass a wide range of concerns, including cyber threats, data breaches, regulatory non-compliance and reputational damage. Understanding and managing digital risks is essential for both businesses and individuals to protect assets, reputations and personal information in the digital era.
Frequency and complexity
The cyber risk landscape has changed significantly in recent years. This shift has been driven by factors such as the increasing digitalisation of supply chains, which has introduced new vulnerabilities that are becoming increasingly costly. According to IBM’s Cost of a Data Breach Report 2024, the global average cost of a data breach reached $4.88m in 2024, marking a 10 percent increase from the previous year. Similarly, Cloudflare’s Securing the Future: Asia-Pacific Cybersecurity Readiness Survey found that 63 percent of respondents reported experiencing a financial impact of at least $1m due to a cyber security incident.
Oct-Dec 2025 Issue
Richard Summerfield