Cyber Security
An in-depth look at the various types of cyber crimes
Cybersecurity
As more data is loaded onto the cloud, so too are Cyberspies becoming more brazen and opportunistic. The Internet Society's Online Trust Alliance (OTA) published a 2018 report titled, "Cyber Incident & Breach Trends". According to its calculations, the worldwide economic impact of cybercrime was at least $45 billion in 2018.
According to Cybint (international cyber education company), more than 40% of cyber attacks happen to small businesses, in 2018 hackers stole ½ billion personal records, 75% of the healthcare industry was adversely affected last year and approximately $6 trillion will be spent globally on cybersecurity by 2021.
So, for clarification purposes, cybercrime relates to any crime that is committed in cyberspace or online.
Apparently, the very first virus was created in the 1970s and was called the Creeper virus. In 1981, the first hacker-made virus came into existence and spread through Apple's floppy drives...remember those?
There are various forms of cybercrime. These include:
1. Fraud - concerned with altering, destroying, stealing, or suppressing any information to secure unlawful or unfair gain
2. Scamming - done by offering false services, forcing users to shell out money for cyber problems that do not even exist
3. Identity theft - steal personal data, including passwords, data about bank accounts, credit cards, debit cards, social security, and other sensitive information
4. Computer viruses - these infect and destroy computers, networks, and systems. Viruses can spread through removable devices and the internet. Many of these exist
5. Ransomeware - very destructive and enters a computer network and encrypts files and information
6. Phishing - acts like a legitimate company or organization. They use email spoofing to extract confidential information such as credit card numbers, ID numbers and passwords etc.
7. Malvertising - the method of filling websites with advertisements carrying malicious codes etc.
Whilst the above is not exhaustive, it shows the wide extent of cybercrime. Some ways to protect against cybercrime includes;
- Purchasing a powerful internet security suite
- Keep security software updated
- Use strong passwords
- Keep up to date on major security breaches, and
- Manage your social media settings by sharing minimal private information and
- Identify a well-equipped cybersecurity service provider
Cybercriminals are now using more advanced tools to breach personal and company security. With the growth of IoT expected to grow to more than seven billion devices by the end of 2020 (Gartner), these devices are now being accessed to launch attacks within organisations.
Hence, as one migrates deeper into the 4IR space, so too is there a proportional increase in cyber threats.
According to John Shin of RSI security, a leading cybersecurity entity in the USA, the two categories that currently get hacked the most are health and wealth. These are going to be targeted more and more in the future.
Be ready, be prepared!