What is Cybercrime? Types and Prevention

 

Cyber security has always been an important aspect of computing systems but its importance has increased greatly in recent years. The curriculum covers areas where cyber security is of major importance, but has different security requirements and may be exposed to different threats and attacks. It also covers techniques and mechanisms used to secure computer systems and data to meet those requirements and protect them.

The areas looked at include computer operating systems (and increasingly, distributed operating systems), distributed applications (such as electronic commerce over the Internet), embedded systems (ranging from smart cards to large industrial plant and telecommunications systems), and users. The techniques and mechanisms looked at include cryptography, authentication & authorization, and access control.

Furthermore, the curriculum integrates the legal, ethical, and professional perspectives, for instance, to address concerns about data security, privacy, and societal impact of computing systems.

Cybercrime is vastly growing in the world of tech today.

Criminals of the World Wide Web exploit internet users’ personal information for their own gain. They dive deep into the dark web to buy and sell illegal products and services. They even gain access to classified government information.

Cybercrimes are at an all-time high, costing companies and individuals billions of dollars annually. What’s even more frightening is that this figure only represents the last 5 years with no end in sight.

The evolution of technology and increasing accessibility of smart tech means there are multiple access points within users’ homes for hackers to exploit. Taking advantage of the anonymity of the internet.

Cyber Crime is when an individual intentionally uses information technology to produce destructive and harmful effects on the tangible and/or intangible property of others. It has no national boundaries and is usually a term for criminal activities involving a computer or a network as a tool or a target.

By the end of this article, you will able to know nature and scope, what are cybercrime, types and cause.

 

Nature and Scope of Cyber crime

Cybercrime is Transnational in nature. These crimes are committed without being physically present at the crime location. These crimes are committed in the impalpable world of computer networks. 

To commit such crimes the only thing a person needs is a computer which is connected with the internet. With the advent of lightning fast internet, the time needed for committing the cybercrime is decreasing. The cyberspace, being a boundaryless world has become a playground of the perpetrators where they commit crimes and remain conspicuously absent from the site of crime.

It is an Open challenge to the law which derives its lifeblood from physical proofs and evidence. The cybercrime has spread to such proportion that a formal categorization of this crime is no more possible. Every single day gives birth to a new kind of cybercrime making every single effort to stop it almost a futile exercise.

Identification possesses major challenge for cybercrime. One thing which is common it comes to identification part in cybercrime is Anonymous identity. It is quite an easy task to create false identity and commit crime over internet using that identity. 

Cybercrime being technology driven evolves continuously and ingeniously making it difficult for cyber investigators in finding solution related to cyber law crimes.

Crimes committed over internet are very different in nature when compared to the physical world. In crimes relating to cyber space there is nothing short of physical footprints, tangible traces or objects to track cyber criminals down. Cybercrimes possess huge amount complications when it comes to investigation.

In tempt of Scope of Cyber Crimes, Cybercrime can be basically categorized into three parts: Cybercrimes against persons, Cybercrimes against property and Cybercrimes against government.

 

What is Cybercrime?

Cybercrime is defined as a crime where a computer is the object of the crime or is used as a tool to commit an offense. A cybercriminal may use a device to access a user’s personal information, confidential business information, government information, or disable a device. It is also a cybercrime to sell or elicit the above information online.

Cybercrime is construed as using a computer as a weapon, or instrument, to advance or secure something deemed illegal. Think stealing identities or intellectual property, committing fraud, or violating privacy laws.

 

Read: Cyber Security Fundamentals, Definition, Benefits, Cyberspace and Cyber-Law

Types of Cybercrime

Follow along below to understand what threat actors use to steal data, their types of tools, and how to go about protecting yourself. In the end, the goal is to feel safe instead of sorry — even if it means taking an extra minute or two to embrace extra safety measures.

Below are 5 of the top cybercrimes affecting businesses and individuals in 2023:

1. Phishing Scams

2. Website Spoofing

3. Ransomware

4. Malware

5. IOT Hacking

 

Let study is detailed

 

1. Phishing Scams

The majority of successful cyber-attacks - 91% according to a study by Phish Me - begin when curiosity, fear, or a sense of urgency entices someone to enter personal data or click on a link.

Phishing emails mimic messages from someone you know or a business that you trust. They are designed to trick people into giving up personal information or clicking on a malicious link that downloads malware. Thousands of phishing attacks are launched every day.

What you can do: Stop trusting your emails. They are not always what they seem. Security awareness and phishing training can empower your team to defend against phishing attacks.

Training can show the telltale signs and teach how to recognize targeted phishing campaigns, as well as malicious links, and encourage users to stay away from links and attachments. One simple way is to go to websites by typing the real URL into their browser.

 

2. Website Spoofing

The word spoof means to hoax, trick, or deceive. Website spoofing is when a website is designed to look like a real one and deceive you into believing it is a legitimate site. This is done to gain your confidence, get access to your systems, steal data, steal money, or spread malware.

Website spoofing works by replicating a legitimate website with a big company’s style, branding, user interface, and even domain name in an attempt to trick users into entering their usernames and passwords. This is how the bad guys capture your data or drop malware onto your computer.

Spoofed websites are generally used in conjunction with an email that links to the illegitimate website. As of last August, spoofing and phishing may have cost businesses as much as $354 million.

What you can do: The easiest thing you can do is ignore and delete anything you’re not anticipating. Legitimate companies will have multiple ways to contact you in the event they need to reach you. Save time and frustration by applying common sense logic and evaluating the “urgency” of the message. Also, pick up the phone or go directly to the trusted domain to inquire.

 

3. Ransomware

Ransomware is a modern day, technical twist on a crime that has been around for ages - extortion. At its core, ransomware works when criminals steal something of great value and demand payment in exchange for its return. For most businesses, this involves the encryption of company data.

When ransomware hits, businesses come to a standstill, and employees cannot do their jobs. Without restorable backup data, the company is generally at the mercy of the attacker who will hold your data hostage in exchange for a decryption key you can buy with Bitcoin.

Ransomware has matured into its own category of malware and should be a primary concern for all organizations. According to new research, ransomware breaches have increased by 13% – more than the last five years combined.

What you can do: Back your data up and then do it again — in a separate location. Frequency and redundancy are key to your success. If you only back up your system weekly, or if your backup is infected, you’re in for a lot of trouble.

 

4. Malware

Norton defines malware as “malicious software” specifically designed to gain access to or damage a computer. In the case of ransomware, it's designed to hold your data hostage, but that isn’t the only kind. There can be multiple objectives for malware - power, influence, money, information - but the result is always the same - a time consuming, often expensive recovery effort.

Common types of malware include:

• Viruses that spread, damage functionality, and corrupt files Trojans disguised as legitimate software that quietly create backdoors to let other malware into your network

•Trojans disguised as legitimate software that quietly create backdoors to let other malware into your network

• Worms that can infect all of the devices connected to a network

• Ransomware that holds your data hostage Botnets - a network of infected devices that work together under the control of an attacker

• Botnets - a network of infected devices that work together under the control of an attacker

What you can do: Be cautious about email attachments, avoid suspicious websites (look at the spellings carefully), install and continually update a high-quality antivirus program.

 

5. IOT Hacking

The Internet of Things is a brave new world that has opened insights into our daily routines and our business processes to the web. Whether we like it or not, all of these internet-connected objects are collecting and exchanging data.

As you know, data is valuable and for that reason, hackers will look to exploit any devices that aggregate it. The more “things” we connect - the juicier the reward becomes for hackers. That’s why it’s important to remember that personal passwords and business passwords all belong to humans… with memories that we know are going to let us down from time to time.

What you can do: Use a password generator to secure all devices with unique passwords. Here’s a list of the top 10 password managers you can use to help you keep your devices more secure. Remember, while you’re working within a business, each person has to take personal responsibility for ensuring your cyber security.

You have to prioritize your risks and think through the scenarios that are likely to affect you, based on what you know about your unique infrastructure and team. Don’t wait until it’s too late to take a proactive approach. Keep focused on what’s coming and work to bring your team up to speed to create the strongest defense against cyber-attacks.

 

Read: Nature and Scope of Cyber crime

How to prevent against cybercrime

Anyone using the internet should exercise some basic precautions.

Here are 11 tips you can use to help protect yourself against the range of cybercrimes out there.

1. Use a full service internet security suite

It’s a good idea to consider trusted security software like Norton 360 with Lifelock Select, which provides all-­in-­one protection for your devices, online privacy, and identity, and helps protect your private and financial information when you go online.

2. Use strong passwords

Don’t repeat your passwords on different sites, and change your passwords regularly. Make them complex. That means using a combination of at least 10 letters, numbers, and symbols. A management application can help you to keep your passwords locked down.

3. Keep your software updated

This is especially important with your operating systems and internet security software. Cybercriminals frequently use known exploits, or flaws, in your software to gain access to your system. Patching those exploits and flaws can make it less likely that you’ll become a cybercrime target.

4. Manage your social media settings

Keep your personal and private information locked down. Social engineering Cybercriminals can often get your personal information with just a few data points, so the less you share publicly, the better.

For instance, if you post your pet’s name or reveal your mother’s maiden name, you might expose the answers to two common security questions.

5. Strengthen your home network

It’s a good idea to start with a strong encryption password as well as a virtual private network. A VPN will encrypt all traffic leaving your devices until it arrives at its destination. If cybercriminals do manage to hack your communication line, they won’t intercept anything but encrypted data. It’s a good idea to use a VPN whenever you a public Wi­Fi network, whether it’s in a library, café, hotel, or airport.

6. Talk to your children about the internet

You can teach your kids about acceptable use of the internet without shutting down communication channels. Make sure they know that they can come to you if they’re experiencing any kind of online harassment, stalking, or bullying.

7. Keep up to date on major security breaches

If you do business with a merchant or have an account on a website that’s been impacted by a security breach, find out what information the hackers accessed and change your password immediately.

8. Take measures to help protect yourself against identity theft

Identity theft occurs when someone wrongfully obtains your personal data in a way that involves fraud or deception, typically for economic gain. How? You might be tricked into giving personal information over the internet, for instance, or a thief might steal your mail to access account information. That’s why it’s important to guard your personal data. A VPN — short for virtual private network — can also help to protect the data you send and receive online, especially when accessing the internet on public Wi­Fi.

9. Know that identity theft can happen anywhere

It’s smart to know how to protect your identity even when traveling. There are a lot of things you can do to help keep criminals from getting your private information on the road. These include keeping your travel plans off social media and being using a VPN when accessing the internet over your hotel’s Wi­Fi network.

10. Keep an eye on the kids

Just like you’ll want to talk to your kids about the internet, you’ll also want to help protect them against identity theft. Identity thieves often target children because their Social Security number and credit histories frequently represent a clean slate. You can help guard against identity theft by being careful when sharing your child’s personal information. It’s also smart to know what to look for that might suggest your child’s identity has been compromised.

11. Know what to do if you become a victim

If you believe that you’ve become a victim of a cybercrime, you need to alert the local police and, in some cases, the FBI and the Federal Trade Commission.

This is important even if the crime seems minor. Your report may assist authorities in their investigations or may help to thwart criminals from taking advantage of other people in the future. If you think cybercriminals have stolen your identity.

These are among the steps you should consider.

·  Contact the companies and banks where you know fraud occurred.

·  Place fraud alerts and get your credit reports.

·  Report identity theft to the FTC.

 

Read: Cyber Crimes Classification and Types of Cyber Crimes

Brief History of Cybercrime

The malicious tie to hacking was first documented in the 1970s when early computerized phones were becoming a target. Techsavvy people known as “phreakers” found a way around paying for long distance calls through a series of codes. They were the first hackers, learning how to exploit the system by modifying hardware and software to steal long distance phone time. This made people realize that computer systems were vulnerable to criminal activity and the more complex systems became, the more susceptible they were to cybercrime.

Fast Forward to 1990, where a large project named Operation Sundevil was exposed. FBI agents confiscated 42 computers and over 20,000 floppy disks that were used by criminals for illegal credit card use and telephone services. This operation involved over 100 FBI agents and took two years to track down only a few of the suspects. However, it was seen as a great public relations effort, because it was a way to show hackers that they will be watched and prosecuted.

The Electronic Frontier Foundation was formed as a response to threats on public liberties that take place when law enforcement makes a mistake or participates in unnecessary activities to investigate a cybercrime. Their mission was to protect and defend consumers from unlawful prosecution. While helpful, it also opened the door for hacker loopholes and anonymous browsing where many criminals practice their illegal services.

Crime and cybercrime have become an increasingly large problem in our society, even with the criminal justice system in place. Both in the public web space and dark web, cybercriminals are highly skilled and are not easy to find. Read below to learn more about how to combat cybercrime through cyber law.

Cybercrime has created impact on the society, 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. IBM president and CEO Ginni Rometty described cybercrime as “the greatest threat to every profession, every industry, every company in the world.” Read below for shocking statistics on cybercrime impact on our society to date.