What is Cybercrime?
Cybercrime is the umbrella term for a wide range of crimes committed through computers or computer networks. This type of crime can impact individuals, companies and governments alike, resulting in lost time, services and opportunities. Depending on the size and scope of an attack, it can also result in physical damage to property and even lives.
Cyberattacks are committed for a variety of reasons, from financial gain and espionage to revenge and a desire to disrupt business and government systems. Often, cybercriminals operate under the cover of anonymity and across international borders, making them hard to prosecute and emboldening repeat offenders.
The majority of cyber attacks are carried out for financial gain – hackers can sell stolen information or data on the dark web, or use it to commit identity theft and extortion. Criminals can stockpile personal data from multiple breaches and combine them to create a more complete profile of a victim, such as credit card details, purchases, names and addresses. Other types of financial gain include ransomware attacks and cryptojacking. In cryptojacking, attackers install malware that uses a victim’s device to mine cryptocurrency.
Attackers can exploit a variety of human emotions to trick victims into clicking a link or complying with their request. Many times, they impersonate trusted entities or authority figures, such as banks, government agencies, company executives and so on. They also exploit greed or curiosity, sending a message that piques the interest of the victim and encouraging them to take action without verifying the legitimacy of the request.