आईसीटी समाचार
Cybersecurity is critical because it safeguards all types of data against theft and loss. Sensitive data, personally identifiable information (PII), protected health information (PHI), personal information, intellectual property, data, and governmental and industry information systems all fall under this category. Your company can't protect itself against data breach operations without a cybersecurity program, making it an easy target for fraudsters.
Global connection and the use of cloud services like Amazon Web Services to store sensitive data and personal information are raising both inherent and residual risks. The chance of your firm being the victim of a successful cyber assault or data breach is on the rise, thanks to widespread inadequate cloud service configuration and increasingly adept cyber thieves. Cybercriminals are becoming smarter, and their techniques are becoming more robust to traditional cyber defenses, so business leaders can no longer rely only on out-of-the-box cybersecurity solutions like antivirus software and firewalls.
Cyber risks can originate at any level of your company. Social engineering schemes, phishing, ransomware attacks (think WannaCry), and other malware aimed to steal intellectual property or personal data must not be included in workplace cybersecurity awareness training. Because of the increasing number of data breaches, cybersecurity is no longer limited to highly regulated industries such as healthcare. Even tiny organizations are vulnerable to irreversible reputational harm as a result of a data breach. To assist you grasp the significance of cyber security, we've put together a piece that explains the many aspects of cybercrime that you may not be aware of. You should be concerned about cybersecurity dangers if you aren't already.
What actually is Cyber Security?
Cybersecurity is the condition or process of preventing and recovering from cyber-attacks on computer systems, networks, devices, and applications. Assailants are employing new ways driven by social engineering and artificial intelligence (AI) to evade traditional data security protections, cyber assaults are becoming a more sophisticated and developing threat to your sensitive data.
The truth is that the world is becoming increasingly dependent on technology, and this trend will continue as we introduce the next generation of new technology, which will have access to our linked gadgets via Bluetooth and Wi-Fi. Intelligent cloud security solutions should be used in conjunction with strong password restrictions like multi-factor authentication to prevent illegal access to client data while embracing new technologies.
IMPORTANCE of CYBER SECURITY
The importance of cybersecurity is increasing. Fundamentally, our society is more technologically reliant than it has ever been, and this tendency shows no signs of slowing. Data breaches that potentially lead to identity theft are increasingly being shared openly on social media sites. Social security numbers, credit card numbers, and bank account information are now saved in cloud storage services such as Dropbox or Google Drive. Whether you're a person, a small business, or a major corporation, you rely on computer systems on a daily basis.
When you combine this with the advent of cloud services, bad cloud service security, cellphones, and the Internet of Things (IoT), you have a slew of new security risks that didn't exist only a few decades ago. Even if the skillsets are getting more comparable, we must recognize the distinction between cybersecurity and information security. Cybercrime is receiving increased attention from governments throughout the world. The General Data Protection Regulation (GDPR) is a good example.
By requiring all firms operating in the EU to publish data breaches, designate a data protection officer, get user consent to handle information, and anonymize data for privacy, it has raised the reputational harm of data breaches. The tendency toward openness isn't only confined to Europe. While there are no federal regulations governing data breach disclosure in the United States, each of the 50 states has its own set of rules. The necessity to tell individuals affected as soon as possible, to alert the authorities as soon as possible, and to pay some type of fee are all commonalities.
In 2003, California became the first state to regulate data breach disclosures, requiring anyone impacted to be notified "within a reasonable time" and "immediately upon discovery." Victims can sue for up to $750 in damages, with businesses facing fines of up to $7,500 per victim. As a result, organizations such as the National Institute of Standards and Technology (NIST) have released frameworks to assist them to evaluate their security risks, improving cybersecurity, and avoiding cyber assaults.
The recent worrying increase in cybercrime cases recorded and prosecuted in Nepal concerns the Freedom Forum. In Nepal, 180 incidents of cybercrime were reported in the fiscal year 2018/2019 (through June 13), with 125 cases from the Kathmandu Valley alone and 55 cases from beyond the valley. This is a significant increase over the previous fiscal year when 132 instances were reported during the course of the year. Only 53 incidents of cybercrime were reported to Nepal Police in 2016/017. The Nepal Police have used cybercrime as a new tool to silence journalists, authors, and comedians who produce investigative and caustic content critical of the government or those linked with it.
According to the International Telecommunication Union, Nepal has moved up to 94th place in the Global Cybersecurity Index 2020 from 106th place in the 2018 edition, indicating that its commitment to cybersecurity has risen (ITU). Nepal received 15.61 points for legislative measures, 5.94 points for technical measures, 9.58 points for organizational measures, 9.60 points for capacity building, and 4.26 points for cooperative efforts. According to the research, Nepal's legal measures were a relative strength, and the country may acquire potential growth through cooperation measures.
Many nations fall behind in important areas such as cybersecurity skills training in micro, small, and medium-sized businesses, according to the Global Cybersecurity Index, and there are gaps in specific cybersecurity measures in banking, healthcare, energy, and other key sectors. ATM robberies caused by hacked switching systems, widespread financial transfers into genuine user accounts, the hacking of the SWIFT system, and data theft from internet platforms such as online shopping are the most well-known incidents of data breaches in Nepal in recent years.
REASONS BEHIND INCREMENT in CYBERCRIME
The theft of personal information is the most costly and fastest-growing type of cybercrime. The increased availability of identification information to the web via cloud services is driving this trend. But it isn't the only one. Power grids and other infrastructure can be damaged or destroyed if industrial controls are disturbed or destroyed. Cyber assaults may also try to damage data integrity (delete or modify data) in order to instill distrust in an organization or government. Cybercriminals are growing more sophisticated, shifting their targets, impacting enterprises, and attacking tactics for various security systems.
Social engineering is still the most common type of cyber assault, followed by ransomware, phishing, and malware. Another prominent attack vector is third-party and fourth-party suppliers who process your data and have weak cybersecurity procedures, making vendor risk management and third-party risk management even more crucial. According to Accenture and the Ponemon Institute's Ninth Annual Cost of Cybercrime Study, the average cost of cybercrime for a company has climbed by $1.4 million to $13.0 million in the previous year, while the average number of data breaches has increased by 11% to 145. The importance of information risk management has never been greater.
Financial data, such as credit card numbers or bank account numbers, protected health information (PHI), personally identifiable information (PII), trade secrets, intellectual property, and other objectives of industrial espionage are all possible targets of data breaches. Unintentional information disclosure, data leak, cloud leak, information leakage, or a data spill are other synonyms for data breaches. Other factors driving cybercrime growth include the Internet's distributed nature, cybercriminals' ability to attack targets outside of their jurisdiction, which makes policing extremely difficult, the dark web's increasing profitability and ease of commerce, and the proliferation of mobile devices and the Internet of Things.
IMPACTS of CYBERCRIME
1. Crime as a Negative Social Factor
Despite the fact that a crime-free society is a fiction, crime is a ubiquitous occurrence that is an inextricable aspect of social existence, the question, "Why is there so much ado about crime?" may upset some people. No one can dispute that crime is a social phenomenon; it is everywhere, and it is nothing new; it is one of the defining characteristics of all civilizations that have ever been, civilized or uncivilized, and it is one of the basic inclinations of all human activity!
However, it is important to remember that high crime rates are a source of societal worry not because of their character, but because of the potential for social disruption. Furthermore, some people are crime victims in a more precise sense. Victims of crime may lose all they own.
2. Impact of Cyber Crime over Socio-Eco-Political Riders
Crime is a dynamic and relative phenomenon that is affected by relative sociopolitical and economic changes in the current societal order. As a result, there is no such thing as an all-time acceptable complete definition of 'crime' that encompasses all facets of the term, nor can a single definition be made relevant to diverse societies. It is impacted by changes in the linked phenomena and the value system formed by these changes because of its dynamic nature.
As can be seen in the current situation, where money is more precious than values, there has been a significant increase in corruption-related offenses, with poor social morality influencing the commission of a crime with less social shame than ever before. Economic crime is, coincidentally, at an all-time high. This demonstrates how crime is inextricably linked to other social phenomena, economic systems, and political machinery. In addition, one of the most important elements determining crime rates is the population. A positive association has been shown between the increase in crime and the country's population.
Other variables influencing crime include the circumstances in a given location, the pace of urbanization, population movement from surrounding regions, unemployment, income disparity, [computer literacy in the case of Cybercrime, and so on. Simultaneously, the economic structure of a given society has an impact on economic crimes. Every crime-fighting system has a lot to do with the political structure that sets the rules. The political structure and system also impact the creation of norms, rules, and preventative measures. In any given civilization, there is a crime. This plainly shows that each definition of crime has a link to it societal, economic, and political aspects.
3. Impact of Cyber Crime over Teenager
Cyberbullying is a common phobia among teenagers these days. According to the investigation, it has been more widespread in the last five years, and children under the age of eighteen are more prone to and fearful of Cyber Bullying. In our culture, it is becoming an alarming tendency. According to research, the most common target of cybercrime is female teens. When a person receives threats, bad comments, or negative photographs or comments from another person, it is referred to as cyberbullying.
This is accomplished mostly through the use of the above-mentioned basic technologies, which are accessed primarily through the internet. Chatting, instant messaging, and other forms of cyberbullying can be used. Users of social networking sites such as Facebook, Orkut, and Twitter are more vulnerable to cyberbullying. Generally dreaded people, in my opinion, might reach a point of melancholy, humiliation, and threats. We may conclude from this data that if a person gets bullied online, he or she may be depressed to the point of self-harm.
4. Impact of Cyber Crime over Private Industry
If I had to choose three characteristics to define cybercrime, I would choose obtrusive, quiet, and hazardous. The fact that these types of crimes are generally silent is a huge challenge in combatting the danger; in fact, corporations sometimes do not know they have been victims of frauds or assaults until years after the incident has occurred. The effects are disarming, and recovering the situation is sometimes difficult.
In particular, the time difference between the illegal occurrence and its discovery gives an advantage to those who commit crimes that are frequently unbridgeable, making any form of prosecution impossible. However, we are presuming that the victims are aware of the occurrence, which is not always the case; many firms have been victims of cybercrime for years and are unaware of it, a disease that kills from inside.
Despite a high level of awareness of the cyber threat, the impact of cybercrime has serious financial consequences for businesses and government institutions, according to the Ponemon Institute's report "Second Annual Cost of Cyber Crime Study – Benchmark Study of U.S. Companies," which is based on a representative sample of 50 larger-sized organizations in various industry sectors.
According to the survey, the typical yearly cost of cybercrime for 50 companies is $5.9 million per year, with costs ranging from $1.5 million to $36.5 million per year. When compared to the previous year's initial research, the overall cost has risen.
5. Impact of Cyber Crime over Consumer Behavior
The information revolution, along with the strategic use of the Internet, has made a lot of generally open societies vulnerable to cybercriminals and cyber-terrorist attacks, particularly in commercial business operations. This commercial dark side has been known as cybercrime, and it has taken on numerous forms that alter our impressions of how we purchase online, thanks to the rise of e-commerce.
Corporations should recognize that these dangers to their online enterprises have strategic consequences for their long-term success, and take appropriate steps to eliminate or considerably decrease these threats so that customer trust in the Internet as a shopping option is maintained. These countermeasures, dubbed "cyber security," were created to protect customer privacy and information while allowing for a worry-free shopping experience.
There is a need for the creation of models that will allow businesses to evaluate the impact of cybercrime on online customer trust and respond by utilizing the benefits of recent cyber security advancements. With these two aspects of e-commerce having an influence on the online consumer, businesses must guarantee that the security measures in place will eventually win out, ensuring that customers will continue to utilize the Internet to meet their buying demands.
6. Emotional Impact of Cyber Crime
The study, which is the first to look at the emotional impact of cybercrime, finds that victims are most likely to feel angry (58 percent), annoyed (51 percent), and deceived (40 percent), and that they often blame themselves for the assault. Only 3% do not believe it will happen to them, and over 80% do not believe cybercriminals will be prosecuted, leading to an ironic reluctance to act and a sense of impotence.
People just accept a condition, no matter how unpleasant it is. Despite the emotional toll, the ubiquitous danger, and cybercrime events, individuals continue to act in the same way, with just half (51%) of respondents indicating they would change their conduct if they were a victim. The report's "human effect" section digs deeper into the little crimes or white lies that customers commit against friends, family, loved ones, and enterprises.
Nearly half of those polled believe it is permissible to download a single song, album, or movie without paying for it. Twenty-four percent say that surreptitiously seeing someone else's e-mails or browsing history is permissible or totally acceptable. Some of these habits, like downloading data, expose consumers to extra security risks.
7. Impact of Cyber Crime over Business
Cybercrime is on the rise among American corporations, according to the FBI and the Department of Justice, and it is costing them a lot of money. Cybercrime refers to a variety of nefarious illegal activities aimed at compromising a company's computer security. The goal of an electronic break-in is to steal a company's or its customers' financial information, refuse service to the corporate website, or implant a virus that monitors the firm's online activities in the future. Companies who wish to defend themselves against internet criminals will have to dig deep into their pockets.
Identifying hazards, developing new and safer operating practices, and purchasing preventive software and hardware all come at a cost. Hiring a cyber-security expert to build a tailored solution is common for firms with complicated or sensitive processes. Not only are the initial expenses of security high, but the systems must also be tested and monitored on a regular basis to guarantee that they remain effective against new cyber-attacks. These expenses are frequently passed on to customers in the form of higher pricing for goods and services. Cybercrime is no longer only for burglars. In recent years, a new subculture has emerged: the cyber-activist. These are the analogs of protestors who link themselves to buildings or trees over the internet.
Their goal is to bring a company's online activities to a halt in order to convey a statement about the company's business practices. Major organizations, such as PayPal and MasterCard, have been targeted in this fashion in the last two years. Hundreds of people claiming to be members of Anonymous assaulted the PayPal website in December 2010. In revenge for PayPal shutting off payment services to Wiki Leaks, they tried a denial of service attack. That crime resulted in the arrest of over a dozen hackers.
CONCLUSION
Between criminals and ordinary users, the future of the Internet is still up for grabs. Fears of a cyber apocalypse persist, and the level of harm that may be produced by large-scale fraud is practically limitless. These fears should be logically balanced by the knowledge that the issues are being addressed, albeit not quickly enough. The Internet's utility has been demonstrated in a variety of ways, which should presumably be sufficient to prevent it from becoming a hotbed of criminal activity and a haven for the malevolent.
Although the government has a vital role to play, the majority of fraud prevention must be done by private software producers and those with the capacity to detect and prevent fraud. Consumer education campaigns will only help a small fraction of potential victims.
Others must be automatically safeguarded by non-stressing procedures that entail significant engagement. If it is to succeed, security must be simple and effective. In some ways, it's impossible to say if cybercrime will still be a relevant issue 10 years from now, but if the Internet is to continue to expand, it must be handled such that the reality of cybercrime is on par with, if not better than, real-world crimes.
