Cyber Insecurity is Harming Emerging Markets

Institutions in emerging markets are at an exceptionally high risk of experiencing cyber breaches. Many of these regions have leapfrogged over traditional technological adoption and enjoyed great market penetration of many digital technologies. However, the lack of a security culture has left many of these new markets extremely vulnerable to cyber attacks which has cost these regions greatly. Developed regions of the world have more established laws and methods for organizing cyber-defenses and reporting issues. In the developing world, however, enforcement of industry standards are often very lax and many standards simply do not exist at all. Investment in cybersecurity would be enormously beneficial to the economic growth of the region and would help businesses from these countries compete globally.