Why Cyber Crime Is A Threat ?

Cybercrime is the greatest threat to every company in the world, and one of the biggest problems with mankind. The impact on society is reflected in the numbers. Last year, Cybersecurity Ventures predicted that cybercrime will cost the world $6 trillion annually by 2021, up from $3 trillion in 2015. This represents the greatest transfer of economic wealth in history, risks the incentives for innovation and investment, and will be more profitable than the global trade of all major illegal drugs combined. The cybercrime prediction stands, and over the past year it has been corroborated by hundreds of major media outlets, universities and colleges, senior government officials, associations, industry experts, the largest technology and cybersecurity companies, and cybercrime fighters globally. The damage cost projections are based on historical cybercrime figures including recent year-over-year growth, a dramatic increase in hostile nation state sponsored and organized crime gang hacking activities, and a cyber attack surface which will be an order of magnitude greater in 2021 than it is today. Cybercrime costs include damage and destruction of data, stolen money, lost productivity, theft of intellectual property, theft of personal and financial data, embezzlement, fraud, post-attack disruption to the normal course of business, forensic investigation, restoration and deletion of hacked data and systems, and reputational harm.Brief synopsis of the various offenses that constitute computer crime, such as unauthorized intrusion into a protected network, using encryption in the commission of another crime, or introducing computer viruses into a computer system.

        Cyber Crimes And Dark Web

The now-shuttered DeepDotWeb, which was a uniquely centralized and trusted repository of Dark Web links and information, had long made it easier for threat actors — and consequently, law enforcement and other defenders — to keep track of which Dark Web sites are active, and where. The repository's takedown left a void that no comparable alternative seems to be able to fill, at least for the near future. There are other sites, known as hidden wikis, that can appear to be comprehensive directories and are often referred to as such by defenders. In reality, they tend to be little more than human-assembled catalogs that harken back to the early days of the Internet. All this volatility is largely why threat actors who operate on the Dark Web also typically frequent a number of other channels. It's also why fighting cybercrime requires visibility into much more than just the Dark Web. Contrary to popular belief, the Dark Web accounts for just a minor subset of the many online venues that facilitate cybercrime. Even if the Dark Web were somehow to be eliminated, its absence would simply cause threat actors to rely more heavily on the various other online venues in which many, if not most, already operate. Encrypted chat platforms are one such venue — and in fact, they support far more illicit activity than any other, including the Dark Web. Threat actors are increasingly using platforms such as Telegram and Discord, among many others, to communicate more securely and to share mirrors, which are sites that contain nearly identical information but are hosted on different URLs.

Cyberbullying                

Cyberbullying is bullying that takes place over digital devices like cell phones, computers, and tablets. Cyberbullying can occur through SMS, Text, and apps, or online in social media, forums, or gaming where people can view, participate in, or share content. Cyberbullying includes sending, posting, or sharing negative, harmful, false, or mean content about someone else. It can include sharing personal or private information about someone else causing embarrassment or humiliation. Some cyberbullying crosses the line into unlawful or criminal behavior.

                                Sexting

Sexting is sending sexually explicit messages, photos, or video via cell phone, computer, or any digital device. Sexting includes photos and videos containing nudity or show or simulated sex acts. It also includes text messages that discuss or propose sex acts.As teens and children increasingly carry cell phones and use tablets, social media, apps, and messaging, the risks that they will send or receive sexually explicit content has become a concern for parents, teachers, and law enforcement. Sexting is often done as a joke, a way of getting attention, or as flirting. Parents should discuss it with their children to ensure they understand the risks and what to do when pressured to participate.

Adult Friend Finder exposed:-

In 2015, the dating site was attacked for the first time. The information (pseudonyms, dates of birth, postal codes, IP addresses, and sexual preferences) of 4 million accounts was made public on a forum only accessible on Tor. Had it been recovered by malicious actors, the data could have been used for spam campaigns, identity theft or blackmail.Adult Friend Finder faced a new attack, much more violent than the first one. This time it was not 4 million accounts pirated but more than 400 million. The stolen information was less sensitive but in total, 20 years of personal data was stolen.

Identity theft                              

Identity theft is a crime whereby criminals impersonate individuals, usually for financial gain. In today's society, you often need to reveal personal bits of information about yourself, such as your social security number, signature, name, address, phone number, cell number or even banking and credit card information. If a thief is able to access this personal information, he or she can use it to commit fraud in your name.Armed with your personal information, a malicious person could do any number of things, like apply for loans or new credit card accounts. It's possible they could request a billing address change and run up your existing credit card without your knowledge. A thief could use counterfeit checks and debit cards or authorize electronic transfers in your name and wipe out funds in a bank account.Carding Is now-a-days a comman way to steal credit cards and use them for online purchasing of goods.

Some Big Cyber Crimes Of All Time

Yahoo: hackers favourite target?

In 2014, Yahoo! announced it had suffered a cyber attack in 2014 that affected 500 million user accounts constituting the largest massive hacking of individual data directed against a single company. Names, dates of birth, telephone numbers and passwords were stolen. While the company assured users that banking data had not been affected, it nonetheless recommended caution. Prior to this event, in 2012, the hacker “Peace” had sold 200 million usernames and passwords for $1900.in March, Yahoo! confessed to being hacked once again. This time, "only" 32 million accounts were affected. But the cyberattack relaunched the investigation of the 2014 hack, as the attackers used a tool stolen that year, allowing them to create malicious cookies and log in without passwords. A direct result of this is that the firm was bought by Verizon in 2017 for $ 4.5 million instead of the $ 4.8 million announced in 2016. On Dec 2018 Yahoo admitted that all of the 3 billion user accounts had been hacked in 2013. This cyber-attack is the most significant in Internet history.

Equifax: a tricky crisis management

Equifax, an American credit company, revealed (first six weeks after the fact), that it had suffered a cyber attack over the course of a number of months. Detected in July of 2017, it contained the personal data (names, birth dates, social insurance numbers, drivers license numbers) of 143 million American, Canadian and British customers as well as 200,000 credit card numbers. Complaints against the company as well as suspicions of insider trading were levied since the vulnerability of Apache Struts used by the hackers was well known and several executives of the company sold stock just days before the security breach was made public

One of the Biggest Bank Heists in History

The Bangladesh Bank robbery, also known colloquially as the Bangladesh Bank cyber heist,took place in February 2016, when thirty-five fraudulent instructions were issued by security hackers via the SWIFT network to illegally transfer close to US $1 billion from the Federal Reserve Bank of New York account belonging to Bangladesh Bank, the central bank of Bangladesh. Five of the thirty-five fraudulent instructions were successful in transferring $101 million, with $20 million traced to Sri Lanka and $81 million to the Philippines. The Federal Reserve Bank of New York blocked the remaining thirty transactions, amounting to $850 million, due to suspicions raised by a misspelled instruction. All the money transferred to Sri Lanka has since been recovered. However, as of 2018 only around $18 million of the $81 million transferred to the Philippines has been recovered. Most of the money transferred to the Philippines went to four personal accounts, held by single individuals, and not to companies or corporations. It was later suspected that Dridex malware was used for the attack.