Cyber Incidents: Top Global Business Threat of 2024 and the Role of Human Error in Prevention

Cyber incidents were the top global business threat for 2024, with the average cost of a data breach hitting $4.88 million.

Did You Know: Most incidents are caused by human error, and therefore preventable?

At our recent session at INSEAD Singapore campus, Daisy Radford and I conducted a hands-on activity using the STRIDE model, where participants were guided to map data flows and vulnerabilities in simple online activities, such as accessing and using email.

As participants discovered, cybersecurity is not just a matter of technologies and policies. A key factor is human intervention, which is why focusing on human behaviours and psychology can go a long way in fostering cyber resilience in an organisation.

While technologies can quickly become outdated (especially with AI in the mix) and laws take time to catch up, influencing human habits through cybersecurity awareness interventions can reap long-term rewards.