Growing Impact of Cybercrime | Cybercriminals | Cybercrime Solutions

How deeply rooted is cybercrime?

Cybercrime has been rampant since the computer age started, from petty crimes such as performing weird functions on your computer to defacing, and now critical theft where even a country could even make an economy out of it.

The first massive cybercrime attacks were back in 1989 when $70 million was siphoned from the First National Bank of Chicago. Isn’t easy money it? Before massive cyber-attacks, there were petty cybercrimes that could be traced back as early as 1939 such as inventing the code-breaking machine and then breaking into someone’s the computer by cracking one’s password. Now that computer networks evolved and are continuously evolving; cybercrime also became more sophisticated and right now more threatening to also include industrial espionage.

Growing Impact of Cybercrime | iZOOlogicIs it an increasing concern?

Definitely, an alarming issue, because cybercrime can cripple companies and economies. Let us take for example one of the latest well-known incident; the Bitcoin Exchange that filed for bankruptcy which is Mt. Gox. The exchange was hacked and lost $460 million from the digital heist, a business gone in a flash just because of security lapses.

Countries in Europe are also alarmed with the rising cybercrime incidents. The UK, for example, had almost half of their businesses experience cybercrime.

When we talk about security lapses, we are not only talking about the security of the devices, we also need to consider the users (victims) involved in such heists, most of the individuals are unaware and needs more education to counter socially engineered tactics, because most incidents that involve cyber heists points to users who were socially tricked into giving out information or filling out forms that are fraudulent.

Small businesses are the primary target of cybercriminals because most of them do not practice cybersecurity measures.

See the sample photo of a socially engineered message that will lead you to a phishing site:

 

Growing Impact of Cybercrime | iZOOlogic

Looks authentic? It does especially for those who are not keen on details, uninquisitive, and those who are new to any platforms would fall for it.

For the record how much does it cost in a Global scale? Roughly about $450 billion according to the CEO of Hiscox Insurance in an interview with a news site CNBC.

Countermeasures

The battle between cybercriminals and anti-cybercrime groups, firms, authorities, and companies have been long going on since. Through the combined effort of the law-abiding community, the growth of cybercrime is currently kept at bay through a combination of mitigation efforts.

Governments around the world pass laws that help authorities conduct legal operations against cybercriminals, private security firms countering and mitigating damages done by cybercriminals, etc.

As a small to medium business owner, you could start protecting yourself by protecting your computer with an anti-malware program, Cybercrime Solutions, educate more ourselves regarding cyber attacks, and monitor your network. If you have launched your online presence and makes the online transaction, it would be wise to protect your intellectual property rights by securing your trademark of your business and services, and then hire a firm that would monitor your intellectual property by conducting a brand abuse monitoring services 24/7.

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76 Responses
  1. […] Let’s be clear on some concepts on security. With regards to the movement of cryptocurrency through blockchain technology, the identity of the account is protected within the Exchange, However the security of the account relies on how the Exchange protects the accounts through security measures. Changing your password frequently may help protect your account, but it won’t be much of help the instance a database gets exposed where your sensitive information is stored will be exposed by cybercriminals. […]

  2. […] “This decision from the European Parliament welcomes cybercrime in Europe. I do not wish to do anything to further encourage the balkanization of the internet, but I feel that the decision taken in Europe leaves me with no choice but to take definitive action. Kaspersky Lab has only ever tried to rid the world of cybercrime. We have showed time and again that we disclose cyber threats regardless of origin and author, even to our own detriment. This is a setback for the fight against cyber threat, but we remain undeterred in our mission – to save the world from Cybercrime.” […]

  3. […] Cybercriminals have a large range of tools and resources to launch phishing and malware attacks against online platforms. The dark web provides fertile grounds for criminals to opening discuss methodologies and trade new malware variants, types and processes. From well-established banking malware, such as Dyre, ZeuS and Kronos, to more recently discovered malware, such as Shifu and CoreBot, fraudsters have a host of advanced capabilities at their disposal to help them bypass existing bank defenses. […]

  4. […] Lately the marketplace Nicehash has been steadily becoming popular due to its user friendly interface, however things went downhill during the peak of its popularity, because the marketplace got hacked in a way that its clients’ earnings through mining were stolen after the system got compromised in which Nicehash has publicly confirmed. The exact number of bitcoins stolen are unknown since Nicehash has not publicly disclose it, however Reuters reported that it was around 4700 Bitcoins that went with the criminals. […]

  5. […] Mimikatz is a well-known password and credential stealer that has been prevalent in past quarters but has never been the top strain. 27.2% from the Top-10 of all malwares, comprised of this variant alone. This surge in Mimikatz’s dominance suggests that authentication attacks and credential theft are still major priorities for cyber criminals. […]

  6. […] Cybercriminals can easily send an email to anyone within the organization such as a Senior Executive, and spoof the “FROM” address to it appears the email is internal. Making the email look and feel like an internal email – immediately give the sender and message legitimacy – as it is “FROM” a “trusted” source – a big leap forward in the Social Engineering component. Next step is to simply provide the malicious payload. […]

  7. […] Cybercrime solution could have been far-fetched unless security workforces are meticulously inspecting every details of their servers specially the one dedicated to public consumption as these imperil not only the server hosting the update but the one being targeted as normal AV solutions may find it difficult to spot. Accompanying with a reliable security software that does not entirely depend on policy reputation, but whitelisting policy rule would do as much along with a good Antivirus protection and VPN for added security though  ASUS Live Update is still suggested whenever necessary. […]

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