A striking signal from the WEF ecosystem this month: cyber-enabled fraud has overtaken ransomware as the primary concern for CEOs, reflecting a shift from “systems get locked” to “money and trust get siphoned continuously.” This is a meaningful change because ransomware dominated headlines for years. But many executives now recognize that fraud is broader, more persistent, and harder to “solve” with a single restoration event. Ransomware is often loud—files encrypt, operations stop, a demand arrives. Fraud can be quiet—incremental losses, manipulated invoices, hijacked payroll, synthetic identities, account takeovers, and payment diversions that look like normal business until finance reconciles