In the 21st century, technology has become deeply incorporated into daily life. The internet has transformed the world from social media to online banking.

While there have been such improvements, new forms of crime have emerged. Cybercrime is the term given to any criminal acts that target or use the internet as a platform to commit offenses.

It is now one of the biggest dangers to people, organisations, and even governments around the globe.

This article will address the following: what is cybercrime, its categories, the techniques employed by cybercriminals, and how to protect yourself from it.

What is Cybercrime?

Cyber crime is not something new or novel for the world. Cyber crime is an uncontrollable threat having its roots in the varying complexities and nuances associated with modern day computer usage.

The reliance on technology and its implements for everyday life is increasing at an alarming rate and has transformed into a phenomenon that is boundless and beyond measures of assistance.

Cyber crime like many other concepts does not have a particular definition in the Information Technology Act, 2000, or its amendment in 2008. However, it has been strived to define it in various other ways depending on general perception.

According to Oxford Dictionary, “Criminal activities carried out by means of computers or the Internet.”

Cybercrime was defined by the US Department of Justice in 1989 as “Those crimes where knowledge of a computer system is essential to commit a crime.”

The United Nations Manual on the Prevention And Control of Computer Related Crime describes the cybercrime as follows: “Computer crime can involve activities that are traditional in nature, like theft, fraud, forgery, and mischief, all of which are generally subject everywhere to criminal sanctions.”

The Council of Europe Convention on Cybercrime (2001) is the first document of this kind which considering the phenomenon of cybercrime from a global perspective. It defines cybercrime as “A wide range of malicious activities, including the illegal interception of data, system interferences that compromise network integrity and availability, and copyright infringements.”

In its most basic form, cybercrime is a crime that either targets or uses a computer, network, or the internet as its primary means of committing the crime.

These criminal activities can range from relatively minor infractions to complex, large-scale attacks that threaten national security or the integrity of financial systems.

The Growing Threat of Cybercrime

The emergence of cybercrime has recently increased rapidly due to faster internet access and a heavy dependence on digital systems.

Global experts on cybersecurity have predicted that cybercrime will surpass $10 trillion in losses globally by 2025.

The Internet provides a certain level of anonymity that, paired with new cyber tools, allows criminals to conduct their operations without the fear of being caught.

A further complication stems from the fact that a significant number of victims of cybercrime choose not to report the crime out of shame or fear of losing their reputation.

Types of Cybercrime

Cybercrime is not a one-size-fits-all phenomenon. It is composed of several categories, each with its own set of characteristics, targets, and consequences. Some of the most common types of cybercrime:

Hacking and Unauthorised Access

Hacking is best described as accessing a computer system or any other network without user consent in order to tamper with data through deletion or corruption.

A hacker usually has easy access to a system’s soft wares and uses them both as a means to gain access into the system as well as a possible end goal of spying.

While inside the system, hackers can gather highly sensitive data and use it against the target user. While some hacking acts may target accounts such as email addresses, others tend to attack whole state systems or other major firms.

Phishing Attacks

Phishing attacks are a very popular form of illegal cyber activities and falls under identity based crimes.

In this form of attack, the cybercriminal pretends to be someone he is not by masquerading as a person or organisation and uses emails to obtain personal information such as card details or passwords.

The subscribing logos, professional language and real URLs oftentimes makes these scam emails to be believable and for the goal of phishing is to obtain details which can lead to identity fraud.

Identity Theft and Fraud

Identity Theft is the process of obtaining sensitive information like Social Security Numbers, Credit card data, and Bank credentials to perform a scam.

Cybercriminals utilise the information to make purchases without the victims consent, create new accounts under their name, or even secure loans.

Identity fraud has implications that are devastating both financially and emotionally, to the extent where the victim has a long road to healing ahead.

Cyberbullying and Harassment

Cyberbullying is defined as bullying using digital devices such as social media platforms. It includes making unsolicited messages for threats, sharing toxic, humiliating videos or pictures, as well as issuing and spreading rumors.

While cyberbullying is a huge phenomenon for adolescents, it can be carried out on adults as well, and the damage can be shocking.

Victims may suffer greatly due to extreme emotional trauma, anxiety, serious depression, or suicidal tendencies due to an online attack.

Malware and Ransomware

Malware is a term that can be described as software created with the primary objective of complicating the user’s computer experience.

This includes but is not limited to viruses, spyware, Trojans or worms that intentionally tamper with files, trepidation, or abuse sensitive information and cripple vital systems.

One of these components, known as Ransomware, a classification of malware, is done by placing blocks on sensitive data and extracting funds masqueraded in cryptocurrency to liberate the information.

Examples of Cybercrime

Cybercrime is a broad term that encompasses a wide range of illegal activities carried out using the internet, networks, or digital devices.

The rapid expansion of digital technology has led to a rise in these criminal activities, affecting individuals, businesses, and governments worldwide.

Below are some of the most common and impactful examples of cybercrime:

Hacking

Example: The 2017 Equifax Data Breach

In 2017, hackers exploited a vulnerability in Equifax’s website software to gain access to the personal data of approximately 147 million people.

The information stolen included names, Social Security numbers, birth dates, and addresses. This data breach is one of the largest and most well-known examples of hacking, highlighting the serious consequences of unauthorised access to sensitive data.

What Happened:

In the Equifax data breach, hackers gained access by taking advantage of a known, unpatched vulnerability in the company’s system. They then stole a significant amount of private customer information, including addresses, birthdates, and Social Security numbers, which they then sold to bad actors on the dark web marketplace.

Phishing Attacks

Example: The 2016 Yahoo Email Phishing Scam

In 2016, Yahoo, a major email service provider, suffered one of the biggest data breaches ever. The breach, which happened in 2014, just came to light and was made public in 2016. It impacted over 500 million Yahoo user accounts.

What Happened:

Yahoo employees were the subject of a highly advanced phishing campaign that started the breach. To fool certain employees into disclosing their login passwords, the attackers sent them expertly constructed spear-phishing emails.

Because these targeted individuals had access to Yahoo’s internal systems, the attackers were able to establish a presence on the network.

The hackers entered Yahoo’s network and proceeded through a number of databases and systems, obtaining a great deal of private user data. Included were sensitive information such as names, phone numbers, email addresses, birth dates, and encrypted passwords.

Both Yahoo and its users suffered serious repercussions from the hack. Identity theft, fraud, and unauthorised access to other online accounts connected to hacked email addresses are just a few of the nefarious uses for the stolen user data.

Ransomware Attacks

Example: The 2017 WannaCry Ransomware Attack

In May of 2017, Windows computers were hit by a WannaCry ransomware attack that exploited a flaw in the operating system using the EternalBlue exploit to spread itself.

The attack spread to other computers uncontrollably because the computers were unpatched.

The attack would encrypt files’ content and demand for a Bitcoin ransom to decrypt them. The systems were never patched or updated, leaving them vulnerable despite having a working patch.

In total, the attack impacted more than $4 billion worth of damages with 230,000 computers from over 150 countries getting bricked in the process.

The targeted computers were recommended against paying the ransom, because there were claims that people who paid did not have their data returned to them.

Cyber Espionage

Example: The SolarWinds Cyberattack (2020)

Around 2020, a Russian state-sponsored hacker group conducted one of the most advanced and destructive cyber attacks by breaching the IT infrastructure management company, SolarWinds.

The company had IT infrastructure proprietary products and the hackers compromised it.

In their software update, the attackers placed a backdoor which was later pushed to thousands of companies, including the US’s government departments and other vital structures.

What Happened:

The attack went undetected for several months, allowing the hackers to spy on high-level government and corporate networks.

The breach compromised sensitive data, giving attackers access to classified information and potentially compromising national security.

Credit Card Fraud

Example: The Heartland Payment Systems Data Breach (2008)

Over one hundred million credit card numbers were hacked in Heartland Payment Systems, which is an infamous payment processor’s data breach. Such a breach was one of the largest in history and resulted in unprecedented levels of financial scamming.

What Happened:

Heartland was not able to protect its network as hackers were successful in stealing credit data of millions of customers.

Shifting the attention to the other side of the story, stolen data was transformed into fake cards with which several scams were conducted. This scenario showcases the weak components of payment systems and stresses the requirement of substantial reforms in the security aspect of the finance industry.

Online Scams and Fraud

Example: The Fyre Festival Scam (2017)

The Fyre Festival was marketed as a luxurious music festival in the Bahamas, attracting thousands of attendees. However, when the attendees arrived, they found that the festival was a scam.

There were no five star hotels, no food, and definitely no concerts. Led by bankrupt ex-convict Billy McFarland, the event was simply used to swindle the masses through false marketing.

What Happened:

McFarland and his team misrepresented the event, using social media influencers and celebrities to create a false sense of exclusivity and luxury.

The scam resulted in financial losses for attendees and investors, leading to lawsuits and criminal charges against McFarland. This case illustrates how online fraud can target consumers through misleading advertising and fake events.

Intellectual Property Theft

Example: The 2014 Sony Pictures Hack

In 2014, a group of hackers calling themselves the “Guardians of Peace” infiltrated Sony Pictures’ network and stole sensitive data, including unreleased movies, internal emails, employee information, and personal communications.

The attackers then leaked the stolen data online, causing significant damage to Sony’s reputation.

What Happened:

The hackers demanded that Sony cancel the release of the movie The Interview, which was a satire about North Korean leader Kim Jong-un.

When Sony refused, the hackers released sensitive information, including embarrassing emails and personal data of employees. This attack not only caused financial losses but also resulted in a PR nightmare for the company.

Nature, Scope, and Characteristics of Cybercrime

Aspect	Description
Nature of Cybercrime
Cybercrime as a Criminal Act	Cybercrime involves illegal activities conducted through digital means, including the internet and computer systems. It covers a wide range of offenses, from hacking and identity theft to fraud and cyberbullying.
Technology-Driven	Cybercriminals exploit technological tools and digital platforms to commit crimes, making it distinct from traditional crime. Examples include phishing, malware, and denial-of-service attacks.
Global and Transnational	Cybercrime often transcends national borders, with criminals targeting victims across the globe. It is difficult for law enforcement to enforce cybercrime laws across different jurisdictions.
Scope of Cybercrime
Wide Range of Victims	Cybercrime affects individuals, businesses, government agencies, and critical infrastructure. The scope of victims is broad, impacting all sectors of society, from personal data theft to large-scale breaches in organisations.
Economic Impact	Cybercrime has a significant financial toll, costing individuals and businesses billions of dollars in losses due to fraud, data breaches, intellectual property theft, and damage to systems.
Increasing Frequency	With the rise in digital interactions and dependency on technology, the frequency of cybercrime is increasing rapidly. New forms of cybercrime emerge as technology evolves.
Ever-Evolving Threat	Cybercriminals constantly develop new methods and tools to bypass security systems. The evolving nature of cybercrime requires continuous innovation in defense strategies.
Characteristics of Cybercrime
Anonymity	Cybercriminals often hide their identities by using encrypted communications, fake profiles, or VPNs, making it difficult for authorities to trace them.
Global Reach	Cybercriminals can target victims anywhere in the world, regardless of geographical location, due to the universal access to the internet and digital systems.
Sophistication	Cybercrime techniques are increasingly sophisticated, using advanced malware, social engineering, or exploiting zero-day vulnerabilities in software.
Lack of Physical Evidence	Unlike traditional crime, cybercrimes often leave little to no physical evidence, making it harder for authorities to investigate and collect data for prosecution.
Disguised Methods	Many cybercrimes are masked as legitimate activities, such as phishing emails pretending to be from banks or tech companies, making it difficult for victims to detect them.
Scalability	Cybercrimes can be committed on a large scale, impacting hundreds or thousands of victims simultaneously, especially in the case of large-scale hacks or DDoS attacks.
Impact on Privacy	Cybercrime often violates individuals’ privacy by accessing personal data, including passwords, financial details, or even private communications.

How Cybercrime Works?

Tools and Techniques Used by Cybercriminals

Cybercriminals use a variety of tools and techniques to carry out their attacks. Some of the most common include:

• Malicious Software (Malware): Cyber criminals use malware when they try to compromise computer systems and networks. Malware can spread via email attachments, downloads from untrustworthy sites, or infected websites. When a computer is infected with Malware, it can pilfer sensitive information, spy on the users’ activity, or take complete control over the system.
• Social Engineering: This is the perpetration of tricking a victim into revealing personal or sensitive information, such as passwords or bank account numbers. Cybercriminals apply subterfuges to manipulate human behavior to their advantage, like inducing feeling of trust and urgency.
• Botnets: A botnet is a network of infected devices, often unknowingly controlled by the attacker. Cybercriminals use botnets to carry out large-scale attacks, such as Distributed Denial of Service (DDoS) attacks, or to spread malware.

The Role of the Dark Web in Cybercrime

The dark web is that portion of the internet that is not reachable through conventional search engines and allows and facilitates illegal activities.

Cyber criminals use the dark web to purchase and sell breached private information, trade in viruses, and plan hacking campaigns. Moreover, it is a trade center of illegal products like narcotics, arms, and forged banknotes.

The anonymity provided by the dark web allows criminals to operate with relative impunity, making it difficult for law enforcement agencies to track down perpetrators.

Cybercrime and Its Impact

Financial Losses from Cybercrime

At present, one of the repercussions of cybercrime that stands out clearly is loss of finances.

Individuals stand the chance of losing money through fraud, theft or even through some ransomware attacks.

As for businesses, the financial loss can be even more staggering which includes recovery fines, paying fines, and other expenses along with loss of reputation.

Cybercrime increases have provoked many institutions to heavily store data but even with that, a lot of risks are present.

Psychological and Emotional Impact on Victims

Loss of finances is not the only impact cybercrime brings forth. The perverse effects of cybercrime can also be felt deeply on a psychological level.

Victims of identity theft may undergo a plethora of issues that stems from worrying about their credit score, depression, and even suicidal propensity in case of severe cyber bullying.

The most unfortunate impact of all might be that the anonymity that the internet provides further adds onto the situation, making it difficult for the victims to receive support.

Impact on Businesses and the Economy

The implications that businesses have to face due to cybercrimes can be very catastrophic.

Intellectual property violations, data records breaches and the mandatory downtime caused by ransomware attacks immensely affects smaller companies to the tune of millions of dollars.

Further, the impact of cybercrime is not limited to monetary losses only. Loss of clients’ trust, customer regulatory fines, and superbly bad reputation can be some other consequences.

Even the global economy feels the impact, as cybercrime blocks financial markets, affects trade, and alters international relations.

National Security Threats

Cybercrime is also a daunting risk to national security. State-sponsored cybercriminals and hacktivists can infiltrate attacks on government agencies, fundamental infrastructure, and privatised businesses.

Attacks of this nature can lead to sensitive information being leaked, services getting interrupted, and even physical harm.

The highly publicised incidents like the SolarWinds cyberattack revealed the scope of dangers cybercriminals can inflict towards national security.

How to Protect Yourself from Cybercrime?

There are innumerable ways to protect oneself from becoming victims of cyber crime. Here are just a few methods.

Using Strong Passwords

The first step to protecting your online accounts is by having a unique and complex password for each account.

A strong password should be at minimum, 12 characters long and must include upper case letters, lower case letters along with numbers and symbols, for better protection.

Updating Software and Security Systems

Regularly updating your software, including operating systems, browsers, and security programs, is essential for protecting your devices from cybercrime. Updates often include patches for security vulnerabilities that cybercriminals can exploit.

Recognising Phishing Scams

Living in the digital age, one of the key features to safeguard against cybercrime is to be able how to identify phishing scams.

Always be on the lookout for unsolicited emails, we highly encourage exercising caution whenever personal information is being shared or when links that appear dubious might need to be clicked.

In case of uncertainty regarding an email, always check the sender’s information via official means or go directly to the site as opposed to clicking the links.

Implementing Multi-Factor Authentication (MFA)

Multi-factor authentication implies that users must provide further proofs of their identity, aside from a password, to obtain additional security.

This is usually in the form of a unique code sent to the user’s phone, email or biometric features such as fingerprints or facial recognition.

As a best practice, enabling MFA where possible significantly minimises the risk of unauthorised entry to user accounts.

What’s Next?

Cybercrime represents a multifaceted threat in today’s digital world.

Cyber threats can manifest in various forms, including malware attacks, fraudulent emails, and Internet fraud.

Common cybercrimes range from attacks on networks to social media frauds, where vulnerable devices and social media accounts are targeted through sophisticated attack vectors.

Different types of malware, such as those delivered via malicious attachments, contribute to financial crime, banking frauds, and even economic security risks.

These digital attacks are not only aimed at stealing sensitive data but also at disrupting network traffic and undermining security measures.

As cybercriminals exploit common vulnerabilities, organisations and individuals must adopt robust countermeasures to safeguard their digital identities and protect against attacks on networks.

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Don’t wait until it’s too late—explore our advanced protection tools and get a head start in defending your online presence. Take control of your cybersecurity now. Book a demo now to secure your digital future!

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