WEF flags online scams overtaking ransomware as one of leading risk for businesses in 2026

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Online scams have overtaken ransomware as one of the leading cyber risks facing businesses worldwide in 2026, according to the latest Global Cybersecurity Outlook released by the World Economic Forum (WEF).

The report shows that 77 percent of global leaders believe online scams and phishing increased over the past year, placing it ahead of ransomware attacks, which 54 percent of respondents said had grown. 

The findings highlight a shift in the cyber threat landscape, with fraud-driven attacks now posing greater concern for executives than traditional extortion-based threats.

Artificial intelligence is emerging as the biggest accelerator of cyber risk. The survey found that 87 percent of respondents reported an increase in AI-related vulnerabilities, the highest among all risk categories. 

The WEF noted that while AI is improving threat detection and automation, it is also being weaponized by attackers to create more convincing phishing schemes, deepfake scams, and automated fraud campaigns.

Beyond fraud, businesses are also grappling with broader systemic risks. Supply chain disruption was cited by 65 percent of respondents as having increased, reflecting growing concerns over third-party and vendor security. 

Meanwhile, 58 percent reported a rise in the exploitation of software vulnerabilities, underscoring persistent weaknesses in patching and legacy systems.

Ransomware, long considered the dominant cyber threat, continues to pose serious risk but is no longer the fastest-growing concern. 

The report also found that 32 percent of leaders saw an increase in insider threats, while 28 percent reported a rise in denial-of-service attacks, suggesting a more diversified and complex threat environment.

The WEF emphasized that online fraud is particularly damaging because it directly targets trust, financial systems, and human behavior, often bypassing traditional security controls. 

As a result, cyber risk has become a board-level issue, with executives increasingly viewing cybersecurity as a core business and governance challenge rather than a purely technical one.

Developed with industry partners, the Global Cybersecurity Outlook 2026 draws on insights from hundreds of business and cybersecurity leaders worldwide. 

The Forum warned that addressing the surge in online-enabled scams will require stronger public-private cooperation, better information sharing, and sustained investment in cyber resilience as AI continues to reshape both attack and defense strategies.