Experts call for greater cyber- vigilance as Sri Lanka faces up to $ 1 b in cybercrime losses

Strengthening cyber- resilience through global standards Building awareness and accountability in age of cybercrime

- BY AMIRA CADER

AS Sri Lanka grapples with an estimated $ 450 million to $ 1 billion in annual losses due to cybercrime, leading experts and diplomats have called for stronger awareness, vigilance and governance to counter the growing digital threat landscape.

The warning came during the “Mastering ISO 27001 Auditing” workshop held at the Taj Samudra Colombo yesterday, organised by HLB Lanka Business Advisory. The program aimed to build capacity among Sri Lankan professionals to strengthen internal audit systems and align with global standards in information security management.

Conducted by ContinuityNZ Director /Principal Consultant Nalin Wijetilleke, the workshop offered hands on training on effective ISO 27001:2022 implementation, risk-based auditing and integrating compliance with Sri Lanka’s Personal Data Protection Act (PDPA).

Wijetilleke an ISACA Hall of Fame Inductee and multi-award-winning international governance, risk and cybersecurity professional — underscored that information security must now be viewed as a strategic business enabler, not merely a compliance requirement.

“The cost of cyber incidents goes beyond financial loss — it damages trust, reputation and business continuity,” he said.