🚨 Cybercrime Threat Looms: Sri Lanka Faces Up to \$1Bn Annual Loss

• Experts warn that Sri Lanka faces an estimated annual loss of US\$ 450 million to up to US\$ 1 billion due to cybercrime, signaling an urgent need for stronger vigilance and governance. • The warning came during the "Mastering ISO 27001 Auditing" workshop, which focused on aligning local systems with global information security standards (ISO 27001:2022) and Sri Lanka’s Personal Data Protection Act (PDPA). • Information security must now be viewed as a strategic business enabler, moving beyond mere compliance to safeguard trust, reputation, and business continuity. • New Zealand High Commissioner David Pine stressed that cybersecurity awareness is the "first line of defence," emphasizing education and shared responsibility across all organisations and individuals. • Organisations are urged to adopt international standards and strengthen governance frameworks to ensure resilience and long-term sustainability in Sri Lanka’s digital economy.