Seventy-two countries signed the landmark UN Convention against Cybercrime in Hanoi, Vietnam, creating the first global, legally binding framework to combat digital threats that have grown increasingly chaotic and costly.
A trillion dollar problem: The treaty addresses a problem with a projected price tag of $10.5 trillion by 2025. As AI-powered attacks grow more sophisticated, the convention provides a shared playbook for member nations, establishing a 24/7 intelligence-sharing network and new international laws against everything from online fraud to the non-consensual sharing of intimate images.
A powerful instrument: UN Secretary-General António Guterres called the agreement “a powerful, legally binding instrument to strengthen our collective defences against cybercrime.”
The AI blind spot: Despite the growing threat, a preparedness gap remains. A recent World Economic Forum report highlights a major disconnect: while two-thirds of organizations expect AI to be the biggest factor shaping cybersecurity this year, fewer than four in ten actually vet the security of the AI tools they use.
The convention will enter into force 90 days after it is ratified by 40 nations, marking a new chapter in coordinated global cybersecurity policy. The pact is not without its detractors, as human rights groups have raised concerns about potential misuse by authoritarian regimes. The treaty saw strong backing from major economic blocs, with the EU being a key signatory. The agreement also comes as individual nations like India are grappling with a massive surge in spyware and ransomware attacks against their corporate sectors.
