In 2019, businesses witnessed widespread protests across the world, bringing governments to the ground, unprecedented levels of climate change which disrupted supply chains, and economic slowdowns, which affected operating environments and profitability. As businesses face public backlash over unsustainable investments, the world grapples with the novel coronavirus (COVID-19) pandemic, security risks posed by the roll-out of 5G, and waning international relations, 2020 has already offered many obstacles and we predict that the second half of 2020 will continue to bring challenges at a global, country, and local level.
- At the global level, the novel coronavirus, social corporate responsibility, and waning relations between Europe and the United States puts a strain on the resources and future initiatives of both government and business decision-makers. Companies throughout the globe will benefit from new manufacturing locations, brought on by the decoupling of sectors between China and the United States. Cyber vulnerabilities of maritime industries put many governments and economies at risk. Deepfakes also pose significant threats to political apparatuses around the world.
- At the country level, Russia threatens government agencies and industry leaders in countries that are affiliated with the North Atlantic Treaty Organization (NATO). 5G cellular technology promises to bring new possibilities to stakeholders in numerous countries at an increased risk of security concerns. Hacktivist campaigns pose a threat to both government agencies and various private sector businesses located in countries that are in an international conflict or experiencing civil strife.
- At the local level, ransomware plagues state governments and private sector companies in the United States. Threat actors also use ransomware against industrial control systems and financial institutions, especially in the Middle East.
Companies, now more than ever, need to assess both their geopolitical and cybersecurity risks to ensure their business understands risks to supply chains; cybersecurity risks specific to certain industries or sectors; as well as geopolitical and cybersecurity trends which are regional, such as ransomware attacks against government agencies and businesses based out of the United States.
VerSprite’s Geo-Cyber Strategy reports help organizations identify their risk tolerance, understand exposure, and discover the requisite tools available to address emerging geopolitical risks and opportunities.
As one of the only cybersecurity consulting firms with a Geopolitical Risk practice, VerSprite is ideally positioned to help each client develop and implement a customized Geo-Cyber Strategy through a range of advisory services and interactive simulations. The VerSprite Envisions 2020 is a general framework for identifying and understanding issues at the nexus of cybersecurity and geopolitical risk which are likely to affect most, if not all, businesses throughout the year.
Rather than seeking to predict the future, VerSprite Envisions seeks to identify the continuation or escalation of forces that will present both challenges and opportunities for businesses, and to serve as a starting point for organizations for developing and refining their Geo-Cyber Strategy for the remainder of 2020.