SAUDI ARABIA, Oct 17: The annual cost of cybercrime is projected to hit a staggering $10 trillion next year, positioning it as the third largest economy globally, behind only the United States and China. This alarming figure underscores the urgency for countries worldwide, from Australia to China and the UK to the US, to tighten their cybersecurity laws. The United Nations is also anticipated to pass a significant cyber treaty in the coming weeks.

Cybercrime is rapidly emerging as the top challenge for law enforcement and intelligence agencies, with threats ranging from deep-fakes and disinformation to infrastructure hacks and attacks on healthcare and security networks. The rise of artificial intelligence (AI) is further complicating the cybersecurity landscape, making individuals and organizations increasingly vulnerable to criminal gangs and state-sponsored hackers.

To address these pressing concerns, Al Arabiya News’ Riz Khan met with leading experts at the Global Cybersecurity Forum held in Riyadh, Saudi Arabia. Chris Inglis, appointed by President Joe Biden as the first Cyber Tsar, highlighted the inherent challenges of achieving complete cybersecurity. “I would say that cyber defense can never be perfect. It’s not possible to have a perfectly secure architecture that defends itself against all threats indefinitely,” he stated. “At best, we can make it defensible.”

Interpol, the world’s largest police force, has evolved since its formation after World War I to combat international crime. Today, with nearly 200 member countries, collaboration is crucial in the fight against cybercrime. Dr. Neal Jetton, Interpol’s Director of Cybercrime, emphasized the interconnectedness of crime in the digital age. “You can almost just get rid of the word ‘cyber’ and just call it ‘crime’ because there’s not a lot of crime that’s really not connected now to a computer, a phone, or some other network system,” he noted.

Jetton also described the dual-edged nature of AI in crime prevention. “With AI, I think quantum computing and encryption will become problematic in the future. Criminals are already salivating at the thought of it. However, law enforcement agencies are also preparing for these advancements.”

Dr. Richard Staynings, a cybersecurity strategist at Cylera, addressed the rising threats to healthcare systems, which generate more data than all other sectors combined. This data makes healthcare an attractive target for hackers. “Unfortunately, most of our medical devices were designed for clinical functionality rather than security,” he explained, noting the vulnerabilities of devices like pacemakers and insulin pumps.

Humans are often seen as the weakest link in cybersecurity. Dr. Mary Aiken, a forensic cyber-psychologist and inspiration for the hit series CSI: Cyber, emphasized the importance of human intelligence over artificial intelligence. “I can beat AI any day, hands down. The human brain has been in development for a million years, and on any given day, it will outperform AI,” she asserted. Aiken advocates for a focus on “intelligence augmentation,” a symbiotic relationship between humans and machines, with humans at the center of decision-making.

In a revealing statement, Chris Inglis shared that even he, the former US National Cyber Director, has fallen victim to cyber-attacks. “I had my identity stolen. Someone filed my taxes as recently as this year using publicly available information. None of us is immune or safe from this,” he warned.

As the threat of cybercrime looms larger, the need for robust cybersecurity measures is more pressing than ever. With October designated as Cybersecurity Awareness Month in the US—an initiative that began 20 years ago—the battle against cyber threats continues to be a significant concern for individuals and governments alike.