Nowadays the IT sector plays a very important role and is growing rapidly in the world. The use of cyber is prefixed to almost everything in the modern world and has become an integral part of our life. Cybercrime is criminal activity committing crimes involving the use of a computer, a computer network, or a network device and doing malicious acts through that. Most of the crimes are done by cybercriminals or hackers (i.e stealing our data to do malicious acts which are not very fruitful for society, financial frauds, profit-making, etc.)
Friends, we need to have a more comprehensive view of cybersecurity and cybercrime.
Almost all crimes committed have some traces of cyberspace in them. The issue of cybercrime is emerging as the biggest challenge for Law Enforcement Agencies (LEAs) around the world and for now India also. Similarly to catch criminals and for investigation purposes, the help of cyberspace is taken. Almost all the LEAs take the help of cyber intelligence to reach the cause of the crime and predict it.
Different Phases of Cybercrime
Cyberspace needed to get some relevant information – Future crime prediction, mitigation, and investigation needed 80% of cyberinfrastructure.
For example, in a situation where an ordinary pickpocket commits a crime by pickpocketing something from the victim and running away. Then to get him arrested, CCTV footage will be used and it was scanned ( usage of cyberspace is needed).
If the criminal is smart, he would use an app to detect CCTV cameras around and change its modus operandi accordingly( another use of cyberspace for encounter measure).
So the moral is, cyberspace is needed in almost all the crimes committed. Most of the LEAs around the world gather prudent information with the involvement of cyberspace.
Lack of knowledge or expertise – we have decided to stay oblivious to the cybercrime reality all around us. It was coming but nobody even bothered about it. Few cyber crime cells and even fewer cyber crime police stations are supposed to take care of the cyber-physical world which is already at a rapid pace. If we don’t take precautions against it, it does in any way change the reality. Even a lack of knowledge and expertise does not in a way absolve you of the responsibility, you are tasked with that is the prevention and detection of crime, whatever genre it might be.
Cyber Crimes to cost the world – cybersecurity venture expects global cybercrime costs to grow by 15 % per year over the next five years. The damage cost estimation is based on historical cybercrime figures, a dramatic increase in organized crime gangs, hacking activities, and a cyber attack surface that will be an order of magnitude greater in 2025 than it is today.
Cybercrime costs include damage and destruction of data, stolen money, lost productivity, theft of intellectual property, theft of personal and financial data, forensic investigation, and restoration and deletion of hacked data and systems.
Dark web – The dark web is a space where cybercriminals buy and sell malware, exploit kits, and cyber attack services, which they use to strike the victims- including businesses, governments, etc. A cyberattack could potentially disable the economy of a city, state, or entire country.
In recent meetings Billionaire, businessman and philanthropist Warren Buffet calls cybercrime the number one problem with mankind, and cyberattacks are a bigger threat to humanity than nuclear weapons. A bullseye on our nation’s businesses.
Top Cyber Crimes Affecting Business and Individuals:
Ransomware- ransomware refers to any malware which denies access to files and folders unless a good amount of ransom is paid and even after the ransom is paid there is no surety whether your information has been misused or not. It can have damaging effects on different sectors of the economy for example – these types of cyber attacks can even cause someone’s life, a case was reported in Germany where a cyberattack of the same type led to the failure of the IT SYSTEM in one of the major hospitals in Düsseldorf where a woman, in an urgent need of treatment died after she had to be taken to a different hospital for treatment due to lack of treatment.
It is predicted that such attacks on businesses will occur every 11th second from 2021 onward. Ransomware damages can reach up to 20 billion dollars in 2021. Ransomware proves to be the most widely used cyberattack on businesses.
Cyber attack surface – in today’s time where a large no of population and their data surface internet data breach has become common. Different social media sites offer a large attack surface to the hackers leading their way into our privacy. Since this data can be related to different professions, cyber attacks are the greatest threat to every profession, industry, and company in the world. As the number of data increases on the different social media platforms, the chances of such attacks also increase.
The more you share on the internet the more you become prone to cyber-attacks. Some things are meant to be private.