Cybercrimes on the Rise
Cybercrimeson the Rise
Cybercrimeson the Rise
Adetailed overview of the global internet trends shows that cybercrimehas increased to alarming levels. Indeed, several states in theEurope have cautioned that it has superseded the mainstream criminalactivities. The practice came of age in 2015 and went through anextensive refinement in 2016, posing serious threats to establishedbusinesses and organizations in various sectors. Surprisingly,cybercrime is not a preserve of computer geeks or disorganized kids.An estimated 80% of the threats stems from organized crime gangs. Insuch a way, the trend poses pressing challenges considering that theinternet provides a considerable degree of anonymity, where onlinefraudsters can carry out their illegal practices unnoticed.
Astudy by Ponenom Institute showed that cybercriminal activitiesincreased by an estimated 19% in 2016. Moreover, companies reportedon a consistent basis that they have either encountered acyber-attack or were hit with a serious one. The move leads to athorough reflection on the motivation behind these fraudulentactivities. Notably, it has emerged that attackers are not motivatedby money (Gordon, 2017). They are after customer’s data orclassified state secrets. In such a way, they have employedsophisticated methods, using phishing techniques as well asransomware to hold the systems they infiltrate at ransom until theirdemands have been met.
Whileit is logical to appreciate today’s connected world, it is stillimportant to reflect on the associated challenges. The convenienceshave been embraced by many, who use the internet to access andcontrol their household appliances. Additionally, theseconsiderations are important as security breaches have grown toaffect the devices connected to the cloud, implying that data storedin this platform is not safe. Emphasis is on the need to invest moreinto security gadgets to ensure company information systems areadequately secured (Wright, 2016). In such a way, this will cultivatecustomer confidences as clients want assurance that their credit carddetails, purchase histories, as well as their online accounts areprotected. Consequently, this will enhance privacy.
Thestate of information security has come under increased scrutiny asdetections of malicious attacks continue to increase. The implicationis that there is a need for an elaborate security spending to ensurethat risks are identified and prevented in advance. Besides, today’sattacks have improved in terms of sophistication as criminals lookfor ways to foster anonymity. Notably, this presents a fundamentalchallenge to the justice systems as fraudsters evade the justicesystem in most cases (Wright, 2016). Large corporations record morecyber threats, meaning that businesses should be aware of these risksand institute thorough protective measures.
Summingup, cyber crimes pose a serious threat to today`s interconnectedworld. Online fraudsters have devised measures to infringe onpersonal and corporate information infrastructure with the aim ofaccessing crucial data. The result is a violation of customer privacyonce sensitive details have been obtained. It is apparent thatestablished corporations have established commendable securityprotocols, a trend not common in middle-tier businesses.Consequently, this has increased their vulnerability tocyber-attacks. Failure to match the efficiency of establishedorganizations on security controls exposes these enterprises to cybercriminals, who can hold their information systems hostage uponbreaching their firewall. The move can have negative implications asmany criminals have devised ways to demand financial ransoms in ananonymous manner.
Gordon,P. (2017). The riseof the cyber criminals.TheHuffington Post.Retrieved fromhttp://www.huffingtonpost.com/entry/rise-of-the-cyber-criminals_us_57bed90ae4b06384eb3e60b9
Wright,A. (2016). Noend in sight for rising cybercrime, experts say.SHRM.Retrieved fromhttps://www.shrm.org/resourcesandtools/hr-topics/technology/pages/experts-say-no-end-in-sight-for-rising-cybercrime.aspx
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