By: Dr. Ross Federgreen, CIPM, CIPP/US, CIPP/G, CIPP/E, CIPP/C, Fellow, European Privacy Association, Fellow of Information Privacy – CEO of CSR Privacy Solutions, Inc.
The 2020 World Economic Forum (WEF) in Davos Switzerland begins today January 20. Over 1500 world leaders will attend the meeting including President Trump. In the January 20, 2020 edition of Bloomberg Business, (See Figure) the annual survey of executives in business, government and civil society was published to corelate with the WEF meeting.
The survey asks the respondents to list the top five global risks. The graph dating from 2012 provides great insight. From the perspective of data in 2012 cyber attacks was ranked number five and in 2018 number three while in 2019 the ranking fell to number five. “Data fraud or theft” was reported as number five in 2018 and had moved to number four in 2019 and expected to progress into 2020.
According to world leaders, data theft or fraud has passed cyber attacks as a global threat.
These findings are consistent with the Gartner survey of 2019 where 70% of executives felt that increasing privacy regulations was the number one risk management concern and from the 2018 National Law Journal survey of major Personal Information (PI) issues facing every business which found Privacy Violations, Data Breach Readiness, Vendor Management and Data Subject Access Request (DSAR) the most frequent cited concerns.
At the WEF the major focus is on the digital economy and the risk to PI with concentration areas focused on Cyber Readiness of Business, Cloud, AI and IoT. Specifically, a major keynote and panel will address the issue of “Towards a More Useful, Safe and Valuable Identity”.
CSR Privacy Solutions is the global leader in solutions to these issues focusing on the SMB market and is currently used in 17 countries.