Cybercrime presents a major risk to global prosperity in the Fourth Industrial Revolution. Nation-state cyber activities tend to garner most international attention, but in fact cybercriminals are responsible for the majority of malicious cyber activity – about 80% by some estimates. In addition to direct damages, which are projected to cost the global economy $6 trillion annually by 2021 (according to Cybersecurity Ventures), cybercrime is a colossal barrier to digital trust. It drastically undermines the benefits of cyberspace and hinders international cyber stability efforts.
Systemic containment of cybercrime requires it is confronted at its very source. This can only be achieved through stronger operational collaboration between the private and public sectors at the global level, combining resources and capabilities. While various significant collaborative initiatives exist, they remain fragmented and insufficient for current needs. There is an opportunity to drive momentum for amplifying public-private collaboration, to improve the effectiveness of cybercrime investigations and enhance the potential of disruptive actions against cybercriminal infrastructures.
This initiative aims to address the global cyber enforcement gap by exploring innovative ways to amplify public-private cooperation against cybercrime and overcome existing barriers. The initiative will bring together key stakeholders in a series of dialogues, including leading law enforcement agencies, international organizations, cybersecurity companies, service and platform providers, global corporations and leading not-for-profit alliances.
Outcome and Deliverables
The key deliverable will be the concept design of an Alliance against Cybercrime with the ambition to launch it at the World Economic Forum Annual Meeting in Davos-Klosters in January 2021, seeking the endorsement and commitment of major stakeholders. A Forum Insight Report will be published, highlighting success stories, sharing key insights and providing concrete, actionable recommendations.
In the long term, the Alliance will strive to develop and promote a shared narrative and strategic alignment regarding the opportunities and challenges, while attempting to enhance public-private collaborative efforts through ongoing feedback and insight sharing.