What Is Cybercrime?
Cybercrime is an umbrella term for any offense that uses a computer or network to do harm. It has many different facets, from stealing financial data to launching ransomware and more. Criminals often attack individuals as well as companies. They also target specific sectors of the economy. For example, banks are a popular target for cyber crime because they move large amounts of money. The threat is particularly high during times of market volatility or instability.
The Internet has made the world a much smaller place, but it’s also allowed criminals to become more nimble. With ‘off the shelf’ tools becoming more readily available and technology adoption by nefarious actors increasing, cyber attacks are getting worse.
One of the most common cyber crimes is identity theft. This happens when a criminal steals the victim’s private information, such as bank account numbers, Social Security number, or credit card info. They can then use that info to access the victim’s accounts and make fraudulent transactions in their name. This can cause major financial losses and ruin the victim’s credit.
Another cyber crime that’s on the rise is ransomware. This type of attack typically happens when a criminal hacks into a company’s computer system and sends the victims an email demanding payment to release a victim’s files. The victim may not even know they’re being attacked. This crime has been exacerbated by the fact that many people now work on their computers from home, which means they’re using public Wi-Fi to connect. Public networks are often prone to attack, so it’s important to only use them for basic Internet tasks and never conduct financial or business transactions.