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Cybercrime is a broad term for illegal activity committed using the Internet or computers, such as identity theft, hacking, fraud and stalking. Cyber criminals continually innovate new attack methods, making it challenging for cybersecurity experts to keep pace. It’s important for people to understand the risks of Cyber crime so they can take steps to protect themselves and their businesses.

The most common cyber crimes are identity theft and credit card fraud. The former involves hackers stealing people’s personal information such as name, address, social security number and bank account or credit card numbers to steal their money and identity. This is especially a threat to the financial industry and can be devastating to small business owners and their customers.

Credit card fraud is another cyber crime where hackers intercept data such as credit card numbers, expiration dates and security codes to purchase goods or services online or access user accounts. This is a risk to any company that accepts payments online and is an example of why it is so crucial to implement industry accepted best practices for securing payment processing and customer account data.

Other types of cyber crimes are phishing attacks, ransomware and metamorphic malware (an advanced form of virus that constantly adjusts its code to avoid detection). The growing threat of cyber crime is why companies must make cybersecurity a top priority and continue to invest in their infrastructure and implement industry accepted protocols. Additionally, they need to make sure their cyber liability insurance is in place as this can help reduce the impact of a data breach.