(SWITZERLAND)

It was announced today at the World Economic Forum (WEF) Annual Meeting that a new Global Centre for Cybersecurity is to be created in Geneva.

The ‘autonomous’ body, which will fall ‘under the auspices’ of the WEF, will be a place where governments, businesses and law officials can collaborate to tackle cyber threats.

“If we want to prevent a digital dark age, we need to work harder to make sure the benefits and potential of the Fourth Industrial Revolution are secure and safe for society. The new Global Centre for Cybersecurity is designed as the first platform to tackle today’s cyber-risks in a truly global manner,” said Alois Zwinggi, Managing Director at the World Economic Forum and Head of the Global Centre for Cybersecurity.

In today’s statement, the WEF also cited estimates by experts that cybercrime will soon cost the world’s economy $500 billion annually, and will pose an increasing threat to a range of industries, including healthcare and finance.

To combat these, the centre will be tasked with developing robust strategies, regulations and best practices; as well as an ‘agile regulatory framework on cybersecurity’.

Live streams of the sessions from the Annual Meeting are available throughout the event, which runs until 26 January.