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Press Release Challenge to globalisation and free trade highlighted by US election and Brexit referendum ushers in year of heightened strategic uncertainty for business The distinction for businesses between perceived safe domestic markets and foreign ones rife with challenges has become marginal as risks increasingly come home through political, cyber and terrorism threats A US-led brake on regulation could transform the global regulatory environment London, Monday 12 December, 2016.

Control Risks, the specialist risk consultancy, today publishes its annual RiskMap forecast, the leading guide to political and business risk and an important reference for policy makers and business leaders. Richard Fenning, CEO, Control Risks, said: “The unexpected US election and Brexit referendum results that caught the world by surprise have tipped the balance to make 2017 one of the most difficult years for business’ strategic decision making since the end of the Cold War. “The catalysts to international business – geopolitical stability, trade and investment liberalisation and democratisation – are facing erosion.

The commercial landscape among government, private sector and non-state actors is getting more complex.” The high levels of complexity and uncertainty attached to the key political and security issues for the year, highlighted by RiskMap, mean that boards will need to undertake comprehensive reviews of their approaches to risk management. Control Risks has identified the following key business risks for 2017: Political populism exemplified by President-elect Trump and Brexit.

The era of greater national control of economic and security policy ushered in by the US election and Brexit provides increased uncertainty for business leaders.

Caution prevails because of the lack of political policy clarity from the USA and UK and the impacts on the global trading and economic environment, as well as geopolitics. Political sparks will fly as the new presidency places pressure on the economic relationship between the US and China, vital for the stability of the global economy; and the US withdrawal from the Trans-Pacific Partnership threatens to redraw Trans-Pacific commerce.

The calls across Europe for further referendums on EU membership is causing nervousness and populism in other parts of the world such as sub-Saharan Africa is adding fuel to investor risk. Persistent terrorist threats.

The threat of terrorism will remain high in 2017 but become more fragmented.

The eventual collapse of Islamic State’s territorial control in Syria and Iraq will lead to an exodus of experienced militants across the world. Responding to terrorism is becoming ever more difficult for businesses; risk adjustment is critical, including big data solutions and reviews of potential insider radicalisation, physical security and scenario planning. Increasing complexity of cyber security. 2017 will see the rise of conflicting data legislation: US and EU data protection regulations remain at odds; the EU’s Single Digital Market is isolationist; and China and Russia are introducing new cyber security laws.

This will lead to data nationalism, forcing companies to store data locally, at increased cost, as they are unable to meet regulatory requirements in international data transfer.

E-commerce will be stifled.

Fears of terrorism and state sponsored cyber-attacks will exacerbate national legislation, adding burden to businesses. A potential brake on US regulation could lead to a transformation of the global regulatory environment.

The US adherence to the Paris climate accords is under question, the Dodd-Frank Act could be modified substantially and the Foreign Corrupt Practices Act is not off limits, either.

This could have a domino impact on regulation around the world. Intensifying geopolitical pressures driven by nationalism, global power vacuums and proxy conflicts.
Syria, Libya, Yemen and Ukraine are likely to remain intractable conflicts and the Middle East will continue to be shaped by friction between Saudi Arabia and Iran; China’s increased focus on diplomacy and military influence will extend from Central Asia and the Indian Ocean to sub-Saharan Africa; and North Korea’s systematic nuclear capability development is upending a relatively static regional and global nuclear status quo. Richard Fenning continued: “Digitalisation and the internet of everything take risk everywhere and the distinction between safe home markets and dangerous foreign ones has largely gone.

The sheer mass of stored data, teetering on a fulcrum between asset and liability, has shifted the gravitational centre of risk. “Terrorist attacks across continents in 2016 made possible in large part by the internet have shown that Islamist inspired violence can be planned and carried out anywhere in the world. “With the seismic shift in risk scenario planning now required by businesses, we can expect the competitive playing field in many industries to see significant change as organisations respond in different ways to the multitude of complexities facing them.” Ends For further information please contact:Georgina Parkesgeorgina.parkes@controlrisks.com Simon Barkersbarker@barkercomms.com Note to Editors:About Control RisksControl Risks is a global risk consultancy specialising in political, security and integrity risk.

The company enables its clients to understand and manage the risks of operating in complex or hostile environments.

Through a unique combination of services, wide geographical reach and by adopting a close partnership approach with clients, Control Risks helps organisations effectively solve their problems and realise new opportunities across the world.www.controlrisks.com
Teets up security on display "Plane Hacker" Chris Roberts managed to make it to Israel before delivering a barnstorming presentation at the nation's Cyber Week security conference. The larger-than-life Highland Games participant told delegates how he discovered it was possible to hack milking machines in the wake of 2014's Scottish referendum result.

These milk robots handle functions such as weighing cows, milking and administering drugs. They also happen to be interconnected embedded devices that can be, or are managed through, the popular remote access tool pcAnywhere.

A passive examination showed that no encryption was farmed out to the device and that passwords were, perhaps appropriately given the agricultural context, manure. Additional research showed that seed-sowing machines might also be hacked.

The practical upshot of this is it might be possible to instruct machines too deep into the ground so that vegetables fail to germinate and grow. It's all enough to put you off your grub or, as Roberts warned, take food off the table. On a separate front, Roberts discovered that street lights were wireless-enabled.

By turning a bank of street lights on and off, Roberts was able to send a hello followed by a rude message in Morse Code up into space. It's unclear whether or not the messages were received by astronauts. Roberts promised that he had a "fun and interesting game" set aside that would be "very visible" and ready for the result of Thursday's Brexit (EU membership) vote in the UK. Airplane! The FBI has accused Roberts of hacking into the controls of a United Airlines plane in midair via the inflight entertainment system. Roberts tweeted about airplane network security during a UA flight to Syracuse, New York, in April last year. He was questioned on landing and some of his equipment was seized. Roberts says the FBI has since handed his equipment back and that charges are off the table.

Even so, he was delayed in his flight to Israel and he seems to be unpopular with elements – but certainly not all – of the air transport community. Esti Peshin, director of cyber programs, Israel Aerospace Industries, praised Roberts' research during his presentation to the Cyber Week conference. "Airports were hacked and airplanes can be hacked," she said. "Air traffic management systems were shown to be hackable, although they've been improved now." Peshin said that improved collaboration of air transport security was necessary and that this needed to be international in scope. "Lots of people in Israel understand cyber but not avionics," she said. ® Sponsored: Rise of the machines