What Is Cybercrime?
Cybercrime is the act of unauthorized access to a computer system. It includes a wide range of malicious activities, including spam emails, phishing, fraud, counterfeiting software, trafficking in child pornography, and cyberterrorism.
Cybercrime has become a major source of economic damage worldwide. According to a report by McAfee, it can cost the global economy up to $600 billion per year. This is a huge impact on the economy, and it could affect businesses’ borrowing costs. In addition, it can negatively affect investor perception, which can lead to a drop in company value.
Cybercrime has risen significantly over the past ten years. One of the main reasons is the broader penetration of the internet. With an increasingly digital world, criminals can do things they never would have been able to do before. For example, using malware to attack nuclear plants is a scary thing to consider.
Another factor is the rapid pace of technological innovation. This can make laws outdated. Thankfully, newer lawmakers may be better able to confront the challenges in the digital landscape.
Aside from the economic damage, cybercrimes can also affect people’s lives. A ransomware attack, for instance, shuts down a victim’s computer until a ransom is paid. If you believe you’ve been the victim of a cybercrime, immediately notify the police.
Identity theft is another type of cybercrime. This occurs when criminals use your personal information to get into your online account. Using a strong password and a backup of your data can help minimize the damage.