Why does Europe lead the world in cyber threat protection?

By Puja Sharma

Financial crime prevention experts, SEON has released its latest ‘Global Cybercrime Report’, which highlights the varying dangers associated with cyber threats around the world. The insightful report combines data from three major cybersecurity authorities; National Cyber Security Index, the Global Cybersecurity Index, and the Cybersecurity Exposure Index to assess the least and most risky countries for internet users.

By evaluating these metrics, SEON has been able to provide a ‘Cyber-Safety Score’ to 93 different countries globally. The data-driven scores have been formulated by combining data based on each country’s performance across a range of indices relating to cybersecurity, digital fraud, and cybercrime, as well as the breadth of legislation and government strategies relating to cybersecurity in each location.

What’s more, the impactful report also breaks down the most common forms of cybercrime affecting the world today, providing details on the monetary costs associated with these methods. From phishing attacks to personal data breaches, SEON’s report highlights the sizable impact that online attacks continue to have on the world’s economy, further demonstrating the importance of effective solutions that mitigate these threats.

Currently, businesses, individuals, and governments across the globe are being forced to contend with a worsening economic climate and as such, can ill afford to lose money to cybercrime attacks. By publishing its latest report, SEON is highlighting the significant variance that exists between different regions regarding this threat, which in turn, is enabling internet users to be more informed about areas where they’re most at risk.

The report, which is available to download for free from SEON’s website underlines how Europe continues to lead the fight back against this ever-evolving challenge. Right now, the top ten lowest-risk countries for cyber threats are found on the continent. At the other end of the spectrum, Asia and Africa continue to lag, with seven of the top ten highest-risk countries for cyber threats found within these two regions alone.

Speaking on the new report, Jimmy Fong, Chief Commercial Officer at SEON said, “Many countries have now developed strong cybersecurity programs and are enacting more effective legislation specifically aimed at tackling this evolving and significant issue. In doing so, these nations are better protecting themselves, as well as the individuals and businesses that operate out of them from digital dangers, offering security at a time of critical need.

“Conversely, there are still many countries that lack either the infrastructure or desire to tackle this challenge with the intensity it requires. By highlighting this variance, SEON is helping to raise awareness around regions where internet users are most at risk. More broadly, our report highlights that the monetary consequences of cyber threats remain too high globally, reaffirming the need to continue to prioritize this issue in the coming years.”

Key Highlights:

• Belgium ranks as the lowest-risk country for cyber threats, with Finland a close second and Spain third
• The top 10 lowest-risk countries for cyber threats are all situated within Europe
• Afghanistan is the highest-risk country for cyber threats, with Myanmar and Namibia ranking second and third respectively