Cybercrime is 3rd largest economy sparing no country or enterprise- MTI

• Cyber security should be treated as a strategic emergency

MTI Consulting warns that the intensity and sophistication of cybercrime, now supercharged by the pervasive use of Generative AI, is overwhelming governments, enterprises and consumers worldwide. 

This is no longer a localised issue; it is a global phenomenon that demands urgent, strategic and coordinated action.

“As humans, enterprises and governments expand their digital transactions, consumption and screen time, crime inevitably follows. Cybersecurity must therefore be treated as a strategic emergency. Governments and enterprises must urgently scale up investments in cybersecurity infrastructure, adopt holistic technology applications, build institutional capacity and foster a culture of risk mitigation,” said MTI Consulting.

According to Cybersecurity Ventures, global cybercrime costs are projected to reach US $ 10.5 trillion annually by 2025 — making it the world’s third-largest economy, if measured by GDP. This staggering figure underscores the scale of the threat and the need for immediate action.

Sri Lanka is not immune. The Sri Lanka Computer Emergency Readiness Team continues to report a sharp rise in phishing and ransomware incidents. 

As Sri Lanka accelerates digital adoption in banking, e-commerce and government services, the risks of cybercrime grow exponentially.

MTI Consulting is an internationally networked strategy consultancy, having carried out assignments in 51 countries over the past 29 years.