How to Protect Yourself From Cybercrime
Cybercrime is the use of technology to exploit security vulnerabilities on a personal and business level. It can have a profound impact on individuals, businesses and society at large, leading to financial loss and diminished trust. It also knows no physical boundaries, with criminals, victims and the technical infrastructure of cyber attacks spanning globally.
A growing number of individuals fall victim to phishing, identity theft, unauthorized funds transfers and other forms of online fraud. These crimes deprive victims of the security, convenience and benefits that they have come to depend on. Victims are often left traumatized, and even when restitution is made, it is difficult for them to return to their previous levels of confidence in the Internet and other digital services.
These harms are exacerbated by the anonymity of the crime and the ubiquity of the attackers. In addition, the low initial perception of risk associated with cybersecurity incidents biases individual’s cost-benefit analyses and makes it harder to incentivize the adoption of appropriate protective measures. Moreover, the emergence of crime-as-a-service platforms on the dark web lowers the barriers to entry for would-be hackers and is fueling the rapid growth of cyberattack networks. The good news is that there are steps individuals, businesses and governments can take to protect themselves from cybercrime. They include using cybersecurity best practices, implementing cyber insurance and prioritizing cybersecurity training and policy-making. In addition, the need to educate and raise awareness amongst all stakeholders is paramount.