Threats to Individuals & Businesses (HL IB Geography)
Revision Note
Technology Threats
Hacking
Cyberattacks or hacking are a major threat to all internet users
They can range from small-scale disruptions to large-scale disasters
They can have a significant impact on individuals, businesses, and governments
A data breach of French health insurance companies in January 2024 affected 33 million French citizens, or nearly half the country’s population
The attack compromised sensitive dates of birth, social security, and marital status information, but not medical history
In 2023, Russian hackers attacked 65 Australian government departments and agencies and stole 2.5 million documents in Australia’s largest government cyberattack
Cybercrime is on the rise, with over 2.3 million cyber attacks being reported in the UK in 2023 alone, with the average attack costing businesses £3,230 each
According to IT Governance, in December 2023 alone, 2 241 916 765 records were breached, with more than one in four incidents being ransomware attacks
The 3 most breached sectors are:
Finance
Manufacturing
Healthcare
Identity theft
One of the most rapidly expanding crimes is identity theft
Cybercrime is different from other crimes as the victim is usually located away from the offender
Identity theft incidents have increased with the rise of computers, many of which have inadequate security
Also, some criminals find identity theft more attractive due to the low prosecution rates and lenient sentencing
A study of identity theft in the USA found that certain populations were at greater risk than others and included:
University students
Military personnel
The elderly
Medical patients
Identity theft of the deceased
Stolen identity can be used for unauthorised purchases, loan applications, or even tax fraud, leading to financial consequence for the victim
People can be wrongfully accused of crimes committed under their stolen identity
Businesses face financial losses and it is time consuming to sort claims and rectify identity theft issues
Personal freedoms
In 2013, the UN published a report that linked state surveillance and freedom of expression
It was concerned over the threat to the right to privacy
Modern surveillance technologies allow states to intrude into personal and private lives
Unwarranted surveillance infringes on individual rights to lead a private life and is considered an invasion of privacy
Being constantly watched restricts freedom of speech and deters individuals from expressing their views, opinions, or concerns openly
Data collected through state surveillance can be misused for political gains, or even sold to third parties
Excessive workplace surveillance creates an atmosphere of distrust, leading to reduced employee morale and productivity
Businesses face legal and regulatory challenges by violating privacy laws
Threats to Global Supply Chains
Supply chains stretch across continents, making them susceptible to a variety of risks
These risks can be
Political
Economic
Physical
The Risk and Impact to Supply Chains
Risk | Impact |
---|---|
Political | Abrupt policy shifts, embargoes, or sanctions can create trade disruptions, Geopolitical tensions, wars, or uprisings in a region severely disrupt supply chains, affecting both sourcing and distribution |
Economic | Economic uncertainties or market crashes alter the demand-supply dynamics Fluctuations in exchange rates increase import costs and export profits |
Physical | Poor infrastructure causes delays and increases transport costs Natural disasters can stop production or transportation for long periods of time Global health emergencies, like the COVID-19 pandemic, disrupt supply chains by reducing the workforce, production, and logistics |
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