Cybercrime is often referred to as exploiting the vulnerabilities of systems and networks for either monetary or other purposes. It comprises all illegal activities carried out using technology where a computer is the object of the crime or is used as a tool to commit an offense. Cybercriminals use techniques like phishing, social engineering, and all kinds of malware to pursue their nefarious plans. As the Internet of Things (IoT) evolves and smart devices become more popular, cybercriminals have increased opportunities to penetrate security measures, gain unauthorized access, and commit crimes.
The proliferation of cybercrime adds up to countless costs in damages every year, impacting individuals, businesses, and even governments. Unlike crimes committed in the physical world, cybercrime requires little to no investment to be carried out. Cybercriminals always opt for an easy way to make big money and target organizations like banks, casinos and financial firms where a huge amount of money flows daily and hack sensitive information. There are several reasons that contribute to the increasing cyber crime these days. Some of the major causes are described below –
- Vulnerability of Computers: Computers are vulnerable to hackers who can easily gain unauthorized access to computers as there are many possibilities of breach due to the complex technology. Hence, they can fool biometric systems easily and bypass firewalls to get past many security systems. In addition, computers run on operating systems and these operating systems are programmed of millions of codes. Errors can happen at the programming stage and cybercriminals take advantage of these human mistakes
- Economically Motivated: Unlike crimes committed in the physical world, cybercrime requires little to no investment to be carried out. money is a major motivator for many cybercriminals. Criminals operate by hiding behind the network and the dangers of criminality are less apparent. The perception of low risk and very high financial reward prompts many cybercriminals to engage in malware, phishing, identity theft, and fraudulent money request attacks
- Personal: Cybercriminals are human beings and often perform illegal activities and crimes due to their personal emotions against a friend. Disgruntled employees can install a virus in-office computers to hack into the network
- Lack of Awareness: Human error in cybersecurityis still a leading cause of many if not most data breaches. There is a lack of awareness in people who are at the receiving end of the scams. Most people tend to open phishing emails and hence jeopardizing their personal information
- The increasing number of Internet Users: In the hundreds of millions, people are coming online every year for the first time. While more and more personal and sensitive information is stored online, it increases the potential rewards for cybercriminals. Neither computer security nor applications like email filters have improved dramatically in terms of coverage.
Cybercrime has created a major threat to those who use the internet, with millions of users’ information stolen within the past few years. It has also made a major dent in many nations’ economies. Technology and tactics of cybercriminals can change faster than law enforcement can adapt to them.
Is your company hit by a Cyber Crime? Contact LIFARS today for more information and guidance!