Cybercrime: Definition and How to Combat It

As the cyber world continues to evolve, you need to understand what cybercrime is so you can avoid and prevent it. Recently, cybercrime has been on the rise in various parts of the world. Therefore, you must be very careful when engaging in online activities.

So, what is cybercrime? What are its different types? What methods do perpetrators use? Let’s take a look at the full overview below so you can avoid falling victim to it!

What Is Cybercrime?

Cybercrime, or crime in the digital world, is a type of crime committed via computers and networks. Computers themselves are the primary tools used to commit cybercrime, but they are also often targeted by these criminals. Typically, cybercrime harms individuals through data theft and financial fraud.

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There are countless privacy issues arising from cybercrime. Often, confidential personal information obtained through cybercrime is leaked to the public or even sold to interested parties.

Internationally, both government and non-government actors are increasingly involved in cybercrime, such as espionage, financial theft, and other cross-border crimes. In fact, many countries have become deeply involved in a series of cybercrime—or what is commonly referred to as cyber warfare.

Warren Buffett, a successful investor from the United States, stated that cybercrime is “the number one problem facing humanity.” This comes as no surprise, given that so many people now conduct their primary activities online. Consequently, cybercrime is certain to continue rising and becoming increasingly dangerous.

What Constitutes Cybercrime?

There are several types of cybercrime commonly encountered while engaging in online activities, including:

1. Unauthorized Access

Unauthorized access occurs when a perpetrator forces entry into a victim’s account without the victim’s knowledge or consent. This is indeed one of the most common types of cybercrime. In fact, some perpetrators are sometimes unaware that their actions constitute cybercrime.

Accounts accessed illegally can cause significant harm to the victims. Perpetrators may impersonate the victim and defraud others by borrowing money. Additionally, the account owner’s personal information can be widely disseminated to the general public.

2. Phishing

Phishing is a method of fraud aimed at stealing a victim’s account. Typically, perpetrators target victims via email or other online messages such as Facebook, Instagram, Twitter, and so on.

Phishing can also be defined as an attempt to obtain information about a person’s data using fraudulent techniques, usually by impersonating someone else or by sending a link capable of stealing information. The data and information in question include personal details such as name, age, address, and specific account information—or even financial data and information.

3. OTP Scams

OTP, or One-Time Password, is a secret electronic code sent specifically to the user. Typically, an OTP is sent when you’re about to make an online financial transaction to verify that you’re the legitimate user.

An OTP scam is a crime committed by stealing this secret electronic code. Usually, the perpetrator will impersonate a representative of the app where the transaction is taking place so that the victim will trust them and provide the OTP code to the perpetrator.

4. Illegal Content Crimes

Illegal content is content that contains data and/or information deemed false, unethical, disruptive to public order, or even illegal.

Illegal content crime occurs when perpetrators distribute such content to the general public.

Typically, the content in question consists of false information or hoaxes regarding a particular topic. Additionally, content that incites ethnic, religious, or racial hatred (SARA) or contains obscene material is also classified as illegal content.

5. Cyber Terrorism

Cyber terrorism is a type of cybercrime that harms a nation and even threatens the safety of citizens and stakeholders involved in governing the country. Cyber terrorism refers to attacks on a nation’s computers, networks, and information systems with the aim of intimidating and pressuring the government for specific interests.

What Are the Methods of Cybercrime?

Given the vast number of types of cybercrime that are frequently committed, there are also many methods used to carry them out. The following are some methods of cybercrime you need to be aware of:

1. Password Cracker

Password cracking is the act of stealing passwords from other people’s accounts using programs capable of decrypting passwords. This action is also often used to bypass password security systems.

2. Spoofing

Spoofing is a situation where the perpetrator—or a program used by the perpetrator—successfully impersonates someone else, typically the legitimate user of a computer or network, by falsifying data. There are many ways to carry out spoofing, such as via email, SMS, and so on.

3. DDoS (Distributed Denial of Service Attacks)

A DDoS attack targets a victim’s computer server or network. The goal of a DDoS attack is to deplete the server’s or network’s available resources to the point where it can no longer function properly.

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4. Sniffing

Sniffing is a method of cybercrime in which the perpetrator steals the victim’s username and password, either intentionally or unintentionally. The perpetrator can then use the victim’s account to commit fraud in the victim’s name or to damage and delete the victim’s data.

5. Sending Malware

Another method of cybercrime involves sending malware intended to damage or destroy data on the victim’s computer server or network. Examples of malware include viruses, worms, Trojans, spyware, ransomware, adware, and others.

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What Are the Threats of Cybercrime to Companies and Businesses?

For companies and businesses, there are numerous threats posed by cybercrime, including:

1. Corporate Data Theft

The first threat from cybercrime to a company or business is the theft of corporate data. The data in question here includes product innovations, business strategies, and other important reports that could be misused.

2. Theft of Employee Data

In addition to company data, data belonging to employees working at the company can also be stolen. This data can later be misused to damage the company’s reputation. Furthermore, this is extremely harmful and can negatively impact employee performance.

3. Theft of Consumer Data

Data provided by consumers is highly sensitive and must not be leaked. If this consumer data is stolen and disseminated, it will clearly cause significant damage to the company’s reputation. Furthermore, consumers may sue the company if their data is misused and causes them direct harm.

What Are the Consequences of Cybercrime for Businesses and Companies?

Cyberattacks can have more than just financial or operational impacts on your company.

Here are some of the losses your company may face if it is paralyzed by a cyberattack:

1. Lawsuits Filed by Consumers

If your consumers’ personal data is leaked by attackers, consumers will have strong grounds to file complaints or even lawsuits against your company.

This can result in significant financial losses as well as a loss of trust in your company from consumers and the public.

2. Leakage of Company Information

It’s not just your customers’ personal information that’s at risk when your company’s network systems are paralyzed; your company’s information is also in danger. Cybercriminals could leak your company’s marketing or business strategies, which could then lead to competitors stealing your company’s information.

3. Damage to the Company’s Reputation

Your company will suffer not only financial losses but also reputational damage. When people learn that your business network system has been compromised, why would they continue to do business with you? Ultimately, they will seek out other companies to do business with, which will inevitably further increase your company’s financial losses.

How to Combat Cybercrime?

There are several steps you can take to combat cybercrime, including:

1. Installing Protection on Devices

The first and most important step in combating cybercrime is to install protection on the devices you use. This protection can be achieved by using applications or software with features such as antivirus, antispyware, firewall, antimalware, and similar tools.

2. Installing SSL on Your Company’s Website

SSL, or secure socket layer, is a cryptographic protocol designed to secure data exchanges between users and your company’s website over the internet. Typically, websites that use SSL will display “HTTPS” in the address bar.

If you’re interested in installing SSL on your company’s website, you can do so with Cloudmatika. Together with Sectigo SSL, Cloudmatika provides a higher level of security in its hosting services. For more information, click here.

3. Back Up Your Data

Backing up data is something many people often take for granted. In reality, however, it’s crucial for every company to protect its data and recover from any cybercrime incidents. This way, you can restore your data more easily and quickly.

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If you’re interested in backing up your data, you can use Cloudmatika’s cloud backup service. Powered by Acronis, Cloudmatika Cloud Backup is a fast, scalable, and reliable data backup solution for your business. For more information, click here.