The Rise and Rise of Cybercrime

Rise and Rise of Cybercrime

As a business owner, manager or even an employee, it is imperative to understand cybercrime in order to keep one step ahead of the modern-day criminals. This article will provide you with some of the basics in order to help you develop a general understanding of the levels that cybercrime has reached and why.

The aim of cybersecurity

Cybersecurity, at its most basic, is the protection of internet-connected systems and the information or data that they contain. The idea is thus chiefly for online fraud prevention, and all the firewalls in the world and having multi layer authentication won’t matter unless you’re protecting the right things and in the right way.

You have to know what’s under threat and what the criminals are capable of doing. The initiation of any cybersecurity protocols must thus start with an understanding of the crimes themselves.

Top 3 cybercrime trends to look out for

Here are the top three cyber-crime typologies that blight both business and personal internet use. The cybersecurity measures that your business puts in place must be able to deal with these as a priority.

1. Identity theft

Identity theft is one of the biggest forms of cybercrime and growing all the time. The fraudulent use of another’s identity for financial or any other gain online is recognized as the most common crime currently taking place.

The actual theft of the personal details can occur in public places as criminals shoulder surf, picking up enough information or entire access codes to be able to then log in as the person whose details have been stolen.

Details from discarded mail and unsolicited spam emails can be an additional way that the cyber criminals access and store your details to be used in some form of fraudulent undertaking.

2. Nonpayment/non-delivery

It would seem a simple crime to combat and many don’t realize that nonpayment and non-delivery are imminently becoming the biggest cyber crime there is, overtaking data theft and phishing. It is as simple as the criminal establishing a relationship with the buyer or seller and convincing them to either send the product or pay the purchase price in advance.

On either occasion the purchased item is never sent or posted or the money for the product that has been posted is never paid. Yes, there are ways to claw the money back and chargeback management will allow your business to avoid some of the costs. But the costs as a whole are still borne by the market and insurance, adversely affecting pricing and costs.

3. Online Extortion

This is becoming increasingly common and is even noted by the FBI. Generally the victim is sent an email alerting them to the fact that they have visited adult content websites or that compromising photographs of them have been obtained.

The same has been done with company data, in that the sender alleges to have information that the recipient won’t want to be made public. The recipient is then given a short period to pay to receive the data or avoid the information being made public.

These are but three of the top cyber-crime techniques that you and your business need to be aware of. There is no sign that the cybercrime industry is about to slow down.

The only thing that we can do is to ensure that businesses and customers alike are aware of the issues at hand and know what to do to avoid being victims of this crime.

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