What Is Cybercrime?
Cybercrime involves unauthorized activities committed using computers and the Internet. It can include computer hacking, sabotage, identity theft and other offenses that affect people and companies on a commercial and personal level. These activities can damage a company’s reputation, lead to the theft of confidential data that could impact customers on a personal basis or cause disruption of critical services like public safety and banking. The cost of a cyberattack can be substantial, including loss of revenue, lost productivity, increased expenses for cybersecurity systems and staff, post-attack disruption to the normal course of business, forensic investigation, restoration and deletion of hacked data and systems and damage to investor perception (Cybersecurity Ventures, 2020).
It is often difficult to determine the true scope of a cyberattack since it occurs in a virtual place called “cyberspace.” Additionally, because cybercrimes may involve multiple jurisdictions, laws differ between states and countries. As an example, while unauthorized access might be similar to breaking and entering a building by statutory definition, the fact that cyberspace does not provide a physical element makes it unique and created a need for new statutes specifically prohibiting this behavior.
Cybercriminals are using more sophisticated tools and methods to carry out their crimes. Spear-phishing attacks, for instance, are crafted to appear to come from trusted sources, such as a CEO or the IT manager. Moreover, DDoS attacks are becoming more common as hackers use IoT devices (Internet of Things) to attack their targets. Despite these threats, law enforcement and private businesses are working together to catch cybercriminals. They are doing this despite the challenges presented by a lack of common understanding and misunderstanding of each other’s roles and responsibilities in the fight against cybercrime.