The Minister for Communication, Digital Technology and Innovations, Samuel Nartey George, has warned that cybercrime is rapidly becoming one of the world’s most expensive threats, with costs projected to rise alarmingly in the coming years.

Speaking at the 2026 CISO Summit on Wednesday, April 22, he cited data from Cybersecurity Ventures indicating that global cybercrime costs are expected to grow by 15 per cent annually over the next five years, rising from US$3 trillion in 2015 to about US$10.5 trillion by the end of 2025.

He also referenced International Monetary Fund (IMF) figures showing that the global financial sector alone has already lost over US$12 billion to cyber incidents over the past two decades, underscoring the scale of the threat facing institutions worldwide.

He cautioned that Ghana is equally exposed, stressing that cybersecurity now affects revenue, operations, reputation, customer trust, and national security.

“Cybersecurity now impacts revenue, operations, reputation, customer trust, and national security. It is a boardroom-level business imperative,” he stated, while commending Sapient Envision and Innovare Group for creating a platform that elevates cybersecurity discussions to the boardroom level.