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Economic unrest to impact security in Asia Pacific most globally

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Economic unrest is expected to threaten security in Asia Pacific more than anywhere in the world and on a par with Sub-Saharan Africa, according to the first-ever World Security Report published by G4S.

1,775 Chief Security Officers (CSOs) across 30 countries or regions at large, global companies with total revenue of more than $20 trillion took part in the research. 458 CSOs were surveyed in Asia Pacific from Australia, Hong Kong, India, Indonesia, Japan, Taiwan, Thailand and Singapore.

Economic unrest is anticipated to be the top security-impacting hazard by 52% of CSOs next year, compared with a global average of 47%. The most affected market globally is Japan, with 66% of CSOs there anticipating this hazard.

Economic criminals are the threat actor group that poses the greatest threat next year, according to 51% of CSOs, on par with the global average of 49%. Thailand is expected to be the most impacted market in the region at 65%.

Phishing and social engineering as an external threat will impact the region more than any other at 31%, well above the global average of 24%. In Taiwan, 40% of CSOs expect to face this threat, more than any other markets in the world. Taiwan reported the highest incidence of this threat last year at 45%, well above the global average of 23%.

The most anticipated internal threat is leaking sensitive information at 45% up from 39% last year, versus the global average of 36%. 51% of CSOs in Indonesia say this is the internal threat they are most likely to face, higher than any other markets in the region.

Taiwan reported the highest number of this incident last year at 51%, versus the global average of 34%.

When it comes to the use of cutting-edge or advanced technology to protect against such threats, Asia Pacific is second to Latin America, with 43% saying they’ve adopted such technology against the global average of 38%.

"Asia Pacific is a hugely important and dynamic region for the world's biggest businesses, with their manufacturing and global supply chains often based in the region, while also being at the epicentre of increasing geopolitical tensions. 

“The year ahead looks set to be a challenging one, with the Asia Pacific expecting to be heavily impacted by economic unrest.

“Security leaders are cognisant of this and very focused on their security preparedness as the region recovers post-Pandemic and with a healthy rate of growth expected in 2023.”
Sanjay Verma, Regional CEO G4S Asia Pacific
Ashley Almanza, executive chairman of G4S, Allied Universal’s international business, said:
“Global businesses are facing increased security threats; a tight labour market globally; and rapidly changing technology that presents new risks and requires different skills. In addition, executive boards are grappling with balancing physical and cybersecurity alongside other priorities. The World Security Report helps our entire industry and the wider business community better understand and operate in the challenging, global and fast-moving security landscape.” 

Key findings from the World Security Report in Asia Pacific:

Security threats and incidents

● 37% of companies experienced unauthorized access to company data or networks last year versus the global average of 31% for this internal security threat.
● 28% expect intellectual property theft to be an external security threat they will face over the next 12 months versus a global average of 20%.
● Supply chain attacks as an external security threat are expected to increase from 19% to 25% over the next 12 months. The global average is expected to be 21%. 

Security budgets

● 58% say that introducing new technology is a budget priority over the next 12 months versus a global average of 55%.
● 53% say that increasing physical security measures will be a budget priority over the next 12 months versus a global average of 49%. 

The future of security

● 89% of CSOs say the recruitment of security officers will be challenging over the next five years with a global average of 84%.
● 48% say that their company will be investing in AI-powered surveillance and monitoring systems over the next five years compared with a global average of 42%.

About the 2023 World Security Report 

This landmark research is an independent, anonymous survey of 1,775 chief security officers (CSOs), or those in equivalent roles, from large, global companies in 30 countries, with a combined annual revenue of more than $20 trillion in 2022, representing a quarter of the world’s total Gross Domestic Product (GDP).

Download the press release in a PDF file here. (PDF 118.8 KB)