📈 Global Cybercrime Now 3rd-Largest 'Economy': Strategic Emergency for Sri Lanka

Cybercrime costs are projected to reach US$ 10.5 Tn annually by 2025, effectively making it the world’s third-largest economy by GDP, according to MTI Consulting. Supercharged by Generative AI, the growing sophistication of cyber threats is posing a major risk to global and domestic enterprises. • Global Threat Scale: The intensity of global cybercrime is overwhelming governments and businesses. Security must shift from an IT issue to a strategic emergency, requiring immediate scale-up in infrastructure investments, technology applications, and risk-mitigation culture. • Sri Lanka Impact: Sri Lanka is highly vulnerable as it accelerates digital adoption across banking, e-commerce, and government services. The Sri Lanka Computer Emergency Readiness Team (SLCERT) reports a sharp rise in phishing and ransomware incidents. • Key Recommendations: To protect critical economic sectors and employment, MTI advises immediate enhancement of institutional capacity and holistic security frameworks to counter exponential digital risks.