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Press Release

Global report uncovers countries most vulnerable to cybercrime

Mon 13 Nov 2023

Recent research has unveiled a comprehensive ranking of countries based on their vulnerability to cybercrime.

Proxyrack conducted the Global Cybercrime Report, examining various factors such as Basel AML Index scores, NCSI scores, cybersecurity exposure index scores, digital development levels, and the prevalence of cyber legislation and laws.

Cybercrime Hotspots and Safe Havens

The research identified Panama as the country most at risk of cybercrime, with a strikingly high risk score of 9.70 out of 10. Factors contributing to Panama’s vulnerability include its low digital development level and its position at the bottom of the Basel AML Index. The country also scored poorly in terms of cybersecurity exposure.

Thailand followed closely, ranking second with a cybercrime risk score of 8.83. Like Panama, Thailand demonstrated significant weaknesses in digital development and Basel AML indices.

Belarus completed the top three, notable for having the highest cybersecurity exposure score of any country in the study, combined with one of the lowest digital development levels.

Countries Most Vulnerable to Cybercrime

The research identified the following countries as having the highest cybercrime risk scores:

  1. Panama – 9.70
  2. Thailand – 8.83
  3. Belarus – 8.78
  4. Costa Rica – 8.22
  5. United Arab Emirates – 8.18
  6. Uruguay – 7.65
  7. Mauritius – 7.65
  8. Georgia – 7.61
  9. Chile – 7.48
  10. Saudi Arabia – 7.43

In stark contrast, Denmark emerged as the world’s most cyber-secure country, boasting a low risk score of 1.87. The Danish government’s implementation of a comprehensive cyber and information security strategy in 2022 has evidently paid dividends, as evidenced by the country’s high digital development and low cybersecurity exposure indices.

Sweden and Finland follow Denmark, ranking second and third, respectively. Both countries exhibit strong national emphasis on cybersecurity, with Sweden’s national cyber security strategy and Finland’s active participation in international cybersecurity discussions playing key roles in their high rankings.

Countries with the Best Cyber Security Measures

The following countries ranked as the most secure against cybercrime:

  1. Denmark – 1.87
  2. Sweden – 1.96
  3. Finland – 2.00
  4. France – 2.17
  5. Germany – 2.26
  6. United Kingdom – 2.30
  7. Norway – 2.52
  8. Spain – 3.22
  9. United States – 3.26
  10. Canada – 3.39

Cybercrime Costs and Legislation Gaps

The study shed light on various aspects of cybercrime globally. The United Arab Emirates is highlighted for the high cost of cybercrime incidents, averaging $2.6 million each. Belarus is pinpointed as the most exposed country to cybercrime. And countries like Uruguay, South Korea, and Switzerland are noted for having fewer cyber legislations and laws compared to other developed nations.

The report underscored the growing importance of the internet in daily life, from business growth to personal communications. However, it also highlighted the parallel rise of cybercrime, posing risks to all internet users.

Despite measures like residential proxies and robust passwords, the threat of cybercrime remains a genuine concern.

 


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