What is Cybercrime and How Can it Affect Your Business?
Cybercrime involves criminal conduct committed using a computer and/or electronic devices connected to the internet. This includes everything from hacking into websites to steal data and identity, to the use of malicious software to disrupt a business. These crimes can be committed by individuals as well as large organized global criminal groups with highly sophisticated and specialized expertise.
Most cybercriminals are motivated by profit, whether it be through illegally selling child pornography or stealing and selling credit card information. They may also be seeking revenge or have a political agenda. These criminals often have a network of likeminded people they can call on to help them carry out their attacks and hide their activity from law enforcement. On the other hand, terrorists are often state sponsored and have a clear ideological goal in mind, making them particularly dangerous and difficult to track down.
Cybercriminals often don’t pick the victims they attack, it might be because you responded to a fraudulent ad on social media, chatted with an inappropriate person online or came into contact with the criminal in some other way. This is why it’s so important to always be careful when using the internet.
A single cyber attack can cost a company millions of dollars. Aside from the direct financial cost, companies can also suffer loss of investor awareness, a reduced credit rating and higher insurance premiums. This is why it’s important for companies to be vigilant and continually update their cybersecurity practices.