Global Business Coalition calls on G20 leaders to safeguard the digital economy and act strongly against cybercrime

The B20 Coalition (now known as the Global Business Coalition), which brings together leading independent business organizations and industry associations from G20 countries, calls on G20 leaders to act strongly to safeguard the Digital Economy from the pitfalls of cybercrime and regulatory inefficiencies.

It is expected that current data volumes will see a tenfold rise by 2020 when around 6.5 billion people will be interconnected with at least 18 billion objects. Indeed, increasingly consumers and business companies are becoming dependent on the digital ecosystem, making the safeguarding of the Digital Economy a critical factor.

“The security of IT systems is a prerequisite to gaining trust and without trust, consumers and business will be reluctant to welcome digital solutions,” stated the Hon. Perrin Beatty, President of the Canadian Chamber of Commerce and President of the B20 Coalition.

“It is therefore critical that businesses and G20 Governments work together. IT security requires engagement, not just by Governments, but also at the CEO and Board level within large organizations. Awareness and governance are key when it comes to effectively managing this risk,” he added.

The Coalition, which represents 6.8 million businesses, in its paper, Safeguarding the Digital Economy,  urges the G20 Governments to:
Take decisive action against organized cybercrime
Expand international cooperation on rules, standards and norms that play a key role in improving cyber defense
Encourage public authorities and business to work closely together
Strengthen the sensitivity of users, companies and governmental bodies towards cybercrime

“The B20 Coalition strives to address the global impediments to the digitalization of the economy as well as to outline potential strategies towards a secure digital future,” declared President Beatty

The B20 Coalition has made the Digital Economy its priority for 2015 and has identified three areas of action, to start with: IT Security – because it is one of the biggest concerns in implementing the digital agenda; Global Standards – because in an increasingly interconnected world the base cannot be built upon without common standards; and Smart Cities – because our future lies in making our cities more sustainable, efficient and responsive.

To download the Position Paper – click here

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