Disadvantages Of Cybercrime

With the growing threat of cyber-terror crimes it is no secret that the victims and potential victims of these crimes would be uneasy. The short terms affects could include loss of valuable information, money, damage to brand and company reputation

As organizations utilize software and the internet together to make transactions and complete accounting functions, the threat of cybercrime comes into play. “Cyber crime against private business is growing, and consuming a larger share of Federal Bureau of Investigation resources than ever before…” (Kelly, M., & 42 staff, 2011)

A recent increase in large scale data breaches has exposed a multitude of cybersecurity vulnerabilities that pose a definite risk to consumers (Lorio, 2017). In some cases, a data breach can distress an establishment so much that other organizations experience a backlash from the repercussions (Kosseff, 2011). The Equifax data breach of 2017 is a perfect example of this kind of event as it caused an overwhelming economic repercussion that affected other major corporations and more than 143 million credit card customers worldwide (Janakiraman, Lin, & Rishika, 2018).

Law Enforcement have always been tasked with having to evolve with the trends in crime throughout history. Unfortunately for Law Enforcement, they are always on the back end of that and are often behind for months before being able to counteract. Cyber crimes are no different. Cyber Crimes are a new and always developing form of crime that bases its entire agenda from taking advantage of its victims over the internet. Law Enforcement 's job is to assess and work to stop these crimes but it 's not that easy. These cyber crimes are heavily in the favor of the criminals and the lack of assistance to Law Enforcement makes it harder for them. The scams are always changing and the costs are adding up as Law Enforcement takes on Cyber crimes.

Times have changed what was known as organized crime has been replaced by Cybercrimes (Heists: Cybercrimes with Ben Hammersley). Cybercrimes have risen dramatically in recent years and have become a major issue the United States and company’s face today jeopardizing as well as threatening the critical infrastructure of America (Cyberwar Threat, 2005). Sadly, the status quo of cyber security is very unstable with the advancements and growth which has put most individuals and businesses into an enormous threat (Agustina, 2015).

A recent increase in large scale data breaches has exposed a multitude of cybersecurity vulnerabilities that pose a definite risk to consumers (Lorio, 2017). In some cases, a data breach can distress an establishment so much that other organizations experience a backlash from the repercussions (Kosseff, 2011). The Equifax data breach of 2017 is a perfect example of this kind of event as it caused an overwhelming economic repercussion that affected other major corporations and more than 143 million credit card customers worldwide (Janakiraman, Lin, & Rishika, 2018).

The data breaches at Target, Home Depot are reminders to CIOs of how deadly social engineering can be. CIO’s and CSO’s realize the dangers of security problems on a massive scale. These are some deliberate security breaches that happen when an employee shares a password or loses a mobile device. An employee might access a website at work that loads malware onto his PC, which then spreads throughout the corporate network. In other cases, security breaches occur when a disgruntled employee leaves the company and takes with him valuable intellectual property that belongs to the company.

In 2014, one the country’s largest home improvement companies Home Depot was attacked by hackers. The hackers used a vendor’s stolen log-on credentials to penetrate through the company’s network and installed a custom built malware that stole credit card data and email addresses. The attack allowed the hackers to gain access to 56 million credit and debit cards in the US and Canada, and another 53 million e-mail address were also stolen.

A disaster is any situation that interrupts or limits an organization’s ability to conduct normal operations. The potential financial impact on organizations will differ drastically depending on the size and scale of the operation (Arduini & Morabito, 2010). Besides natural disasters, in today’s digital age the loss of data through hacking or a data breach can adversely impact the organization ability to function. No business or organization is immune.

The breaches happen in the organization if the network administrator/Security chief of the organization is not keen in observing and if the employee is careless or not aware then the hacker gains access to lot of confidential information. (Data Breaches, n.d.)

The use of information technology in business presents major security challenges, poses serious ethical question, and affects society in significant ways. Especially, the computer crime is a growing threat to society and is caused by the criminal or irresponsible actions of individuals who are taking advantage of the widespread use and vulnerability of computers and the Internet and other networks. It presents a major challenge to the integrity, safety, and survival of most business systems.

The potential of violations can come from numerous sources (Lawrence & Weber, 2011) (Consumer Information). Recently Equifax had a data breach of their customer’s personal information. The hackers accessed the names, social security numbers, birthdates, and addresses of 142 million American consumers (Consumer Information). This is frightening and happens more often that we think. According to PricewaterhouseCoopers executive, ”Cybercrime has emerged as a formidable threat. Over the years millions have fallen victim to theses attacks. In a survey of 583 U.S. companies, 90 percent said that hackers breached their company’s computers over the last twelve months (Lawrence & Weber, 2011). Cyber crimes occur when hackers attempt to damage or destroy a computer network or system of company’s data. Criminals will use one of the most harmful systems around. This system is called a zombie. A zombie is

Cybercrime we have when a computer is the object of the crime like hacking, phishing, spamming or is used as a tool to commit an offense like the child pornography, hate crimes etc.

It is important to note that whether an attack is perpetrated by a hacker group, other corporations or individuals, organizations must always prepare adequately through intrusion detection and prevention systems in place. Data breaches can have very devastating business and social impact to large businesses and their customers – the users. For instance, were Cloudflare attacked by a competing company, their trade secrets could have given the opponents ammunition to take them out of the field. In addition, lost data could influence criminal activity if for instance particular client information, for

Cybercrime has become a fast growing concern for the 21st century as businesses, institutions and individuals grow into an interconnected web of computer networks. Online business transactions, along with the sharing of personal information, are vulnerable to a host of disasters that can reap economic and social havoc. Some sources say that today, cybercrime costs more than $1.0 trillion to society--Global Industry Analysts, Inc. forecasted the world cyber security market to reach $80 billion by 2017 (Gale, 2011).