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Aspects and Sources of Cyber Attacks

Executive Summary

In this report of cybercrime, it has been discussed that cybersecurity is a criminal offense that may disturb companies’ infrastructure. The world is facing various cyber-attacks on daily basis. In the recent years the rate of cyber-attacks is continuously varying. Statistics of these attacks can be seen in the report. Different technique by the states very developed in system of IT are implemented so that they will be able to stop these attacks to not letting the infrastructure to be damaged. The employees working in cybersecurity agencies are working to identify ransomware attacks. There will be a lot of job opportunities for cybersecurity experts who may be working for the IT systems of a company. The world is leading different organization intelligent for the safe and secure surfing on web. The users of internet are increasing with the passage of time that is complicating the system between individual. Increase in the communication between people increasing the probability of cyber-attacks. It has been seen the increase in population of world causes to increase street crime. In the similar way, this is implemented on the internet. Depp and dark web are the main sources of cybercrime which helps the cyber attackers to hide their identity while hacking and letting any individual in different cyber-attacks. UAE have faced a lot of different cyber crime in the recent years. This report will discuss about the various aspects of cyber-attacks and the sources of it. letting the countries to detect the ways of these attacks to make a secure platform internet for the individuals. 

Introduction

Cybercrime is one of the biggest threats to the world. Every year. Billions of dollars waste every year due to cybercrime. It is basically the crime related to steeling money or assets by internet. Many people in the world face this due to lack of knowledge about their bank accounts and other resources. Phishing the most common scam which is the ultimate reason of cybercrime. According to a report of cybercrime, around 600 billion dollars wasted in 2017 globally. This threat is causing the economy to be hollow. It is not only affecting the individuals but some companies having their data online are facing this threat. When they are not having a good security system then it is a high possibility that their confidential data may be at loss. Sometimes, government documents are also at loss because of poor security of documents. This not happens physically but virtually.  

Aspects and Sources of Cyber Attacks

Cybercrime Ventures

It was predicted in 2016 that the rate of cybercrime will cost by 6 billion in 2021. It will include threat to economic situations and trade of all illegal drugs and money. The prediction about cybercrime comes out by the rate of past two years and it has been corroborated by different media outlets. There are several departments around the world working to stop this threat to a country’ economy. Earth is completely connected with internet; people are communicating with each other. They are able to speck from one place to another, transferring funds and sharing different document. Ventures of cybercrime predicted that there will be internet users about 6 billion in 2022. If we see that street crimes are the results of growing population, there is a high probability of increasing cybercrime with the increase of internet users. There will be a lot of scams with the increase in internet users. Ultimately, digital targets will be human beings.

The high degree of cybercrime is completely dependent on the complexity of connection. A lot of people connected with a system may be a cause of cybercrime. Any of them may have a reason to do scam with other people and try to steel or damage the system intentionally. Microsoft estimated that the volume of data will be 50 times more than 2016. Cisco international said that there will be 95 percent of increase in data traffic in 2021. According to a forecast, about half a billion will sold in 2021 which will be wearable. These devices include fitness-monitors, cameras, watches, displays or Bluetooth handsets. The biometric system is introduced in this to make it more secure. In this way the no password campaign by the digital world will be free from passwords that is a key to avoid scams and other cybercrime may cause damage to data or money. Almost one hundred and eleven billion of new software codes developed every year on the internet causing a lot of variabilities which may be exploited. In 2016 the data content on the internet was 4 terabytes which will get increase by 96 zettabytes at the end of 2020.

The concern of deep web in cybercrime is so wide. It has been seen that most of the cybercrimes are done with the help of deep and dark web. These are beyond our search engines. Dark web is kept hidden which is basically the main source of cybercrimes because there is tracing of any criminal activity. According to a report, 20 million of cars connected will be shipped which will have a security system installed in them. Cybercrime is causing damage to both public and public corporation driving them, in scams based on Its systems. That’s why they need to spend more on their systems. Intelligent systems are necessary form their firms so that they may secure their confidential information. In 2018, the cost spent on the IT system security was one hundred and fourteen billion dollars which is more that than 2017. The market worldwide spent 8.7 percent increase in this cost which is one hundred and twenty-four billion dollars in 2019.the analysis of cybercrime varies every year that’s why the analysts still not able to predict an accurate rate of cybercrime. Every year there are lot of cybercrime causing damage to different IT systems in offices, companies, individuals and enterprises. This damage let them to replace their systems for better security and they need to spent a lot of money for this purpose. Sometimes they need to hire hackers so that they may secure them form digital scams but cybercriminals are getting power by their new systems every year that they could able to trap anyone in it. various institution is giving education about cybersecurity to maintain a good system and somehow governments of different states are able to overcome this crime at a limit.

The department of justice has declared ransomware a new model for the emerging business of cybercrime. Ransomware causes the system to be affected by malware which may damage the important data in a computer system and may affect it permanent destruction until a ransom is paid in return. This crime is the fastest growing cybercrime effecting thousands of computers worldwide. It was noticed in 2016 that a company was facing ransomware attacks after every 40 seconds and it was predicted that this attack will be raise to after every 14 seconds in 2019 and in 2021, this attack will be after every 11 seconds. The ransom payments were approaching to one billion dollars last year estimated by FBI. It was advised by cybersecurity experts to not to pay ransom for ransomware. Companies paid in bitcoins to hackers and hoping that they will recover their data which in return they didn’t recovered data back. In 2017, the damage cost by ransomware was exceed to five billion dollars and 11.5 billion dollars in 2019 which braises to twenty billion dollars in 2021.

People are facing security threats because of their less knowledge. Microsoft global incident team is saying that; it will be difficult for humans to find pace in this way but we are trying to prepare our cybersecurity experts to find a better way to find the preparators. We all know that technology is very essential for the human growth and civilization but there is a need of an army that will detect and kill the black hat guys. This is a way by which the rate of cybercrime can be lessened. The demand for cybersecurity in increasing with the passage of time. According to Palo Alto centre of research for networks, cybersecurity professionals increased to 6 million by 2019. It has been seen that the cybercrime is increasing, the jobs for cybersecurity professional will increase 9.5 million by 2021 which will let the unemployment rate in this field by zero percent. In the field of IT, every position for the job is related to the cybersecurity. Every worker related to IT will be the part of cybersecurity to secure the companies from the cyber-attacks. They will work for the data protection in apps, devices and the infrastructure of websites.

2018 was the year when most of the organizations work for the development of their cybersecurity system to avoid any malware in their data resources. Companies started training for their employees to work on the cybersecurity and let them understand the safe and secure way to detect the threats and to build a system for the future attacks. An anti-phishing campaign was run by the companies to stop phishing attacks in the confidential documents and other information of their companies. Making sure about the security awareness culture in different states around the world. They noticed that the bad guys in this way are using the same techniques for harming the profiles of companies. Globally, the cost spend on the awareness of cybersecurity will be ten billion dollars by 2021 which was just 1 billion dollars in 2014. Training employees and let them understand the concept of cybersecurity to have various techniques that could prove fruitful in defending the company from various threats.

In the time of technology, the cybercrime epidemic proved very useful for the detection and removal of threats so that internet will be a much safer place to secure data and information. Authorities of traffic saved about 300000 lives for the next ten years. An Israeli company is working on the technology on collision avoidance which have almost 450 engineers with the systems installed in fifteen million vehicles. Overall, the rate of cybercrime could drop by twenty percent when the sensors of metropolitan are installed with cutting edge security of homes being observed by seamlessly thought IoT. Cybersecurity workers are continuously working on new solutions that may lead the entire world out of this criminal race in IT. various countries have their own specific systems working for the measure to stop damaging their networks and data.

According to cybersecurity report of Dark matter, cybercrime in middle east are getting increased and these attacks are mostly on oil and gas sector. The cyber attacks in UAE are increasing and hits the largest number of attacks till march 2019. Specifically, these attacks are on different infrastructures including oil and gas sector, governments and telecommunication. Oil and gas are the pillar of economy for UAE that’s why most of the attacks are on this sector to damage the economy in any sense. Sabotage and cyber-espionage are the main motivations for the groups top carry out attacks.  Their mode of cybercrime is phishing. They send emails to the main persons having information and let them to reveal information by tricks. An attack was held in January 9 that was simply on Microsoft excel to change politically the document in Arabic. A campaign was started by the government of UAE which has the main aim to secure transport companies and the educational systems in the country. To detect the content from the cybercriminals and extract them form the system. Specifically, that group was concerned with the politically motivated techniques. There was another attack happen in march that was supposed by Iranian government. The victims were included the telecommunication companies situated in turkey. This was also targeted with the mission in Iran that was considered as diplomatic. The attack was concerned to harvest the data from the personal information of different persons.

Cybercrime in World Biggest Economies

As day by day number of different organizations are becoming digital with the passage of time, so does the rate of this cybercrime. It is also increasing day by day on large scale. If we talk here about the present time, cybercrime is known to be one of the major and biggest business in its own rights. There are multiple criminals everywhere that are clamouring to have a piece of an action as there are different companies as well as the consumers that are investing millions and trillions to stake up their claim in the digital universe. (Anderson, 2013)

Putting all of the things together from different point of views, Walmart is one of the biggest stores that racks up the America’s biggest firm earnings, they have successfully generated one of the mind-blowing revenues if we calculate it from last year and it makes up approximately, $514 billion. So far, cybercrime is the one that has successfully earned 12 times of that. Cybercrime has put up the Facebook, Tesla, amazon, Apple and Walmart all towards the shame. Looking at their combined revenue on the annual basis is just $1.28 of the trillion. The economy of this cybercrime is increasing day after day and number of different people are earning through this negative way that is not considered to be a rightful act.

Cybercrime Statistics 2020

All of the damage that is related towards the cybercrime is being projected up to hit up the margin of $6 trillion on the annual basis by the year of 2021 that has been seen according to the Cybersecurity Ventures. To give out one of the better views for the current state of an overall security, here we have successfully collected almost 29 of the dynamic stats related to the hacking, data breaches and last part is the spending along with the cost as well.

Cybercrime Statistics

  • Talking on the worldwide basis, spending on the cybersecurity is nearly going to reach out at approximately $133.7 billion in 2022.
  • There are almost 68% of the different business leaders that feel out the risk of their cybersecurity is increasing day after day.
  • Here the data breaches exposed out to be 4.1 billion of the records on the first half time duration of 2019.
  • Almost 71% of the different breaches were being motivated out on financial basis and other 25% were there being motivated out through the espionage.
  • There are 52% of the different breaches that has been featured out as hacking, almost 28% of them have been involved out in malware and approximately 32-33% of them are being included out in social engineering and phishing.
  • Here the largest statistics of the data breaching is that some of the organizations have experienced out the process of data breaching during the time duration of 2019. All of this put up their business, customers, their reputation and all of the partners at much higher risk.
Major Online Activities Impacted by Cybercrime

There is no second doubt in this fact that cybercrime has significant as well as the direct impact on different kind of the jobs, economic growth, innovation and investment as well. Cybercrime can further be committed in number of different ways like the denial of service, data diddling, virus attacks and getting an access to networks or computers in an illegal way (Wall, 2007). A random person that is using the system is completely unaware of this cybercrime act that when and how things are being changed and how badly their system gets affected. Cybercrime itself is one of the biggest crimes and this is being done on the online basis on large scale. Multiple activities here are being affected out by this cybercrime act. There are multiple thieves in the society that are committing this cybercrime act to steal the identity of other person along with stealing their money as well. Different kind of the hacking is being done through this cybercrime act and due to this people don’t feel safe at all these days in using out any of the social media platform. They don’t feel comfortable in showing out their original identity along with using out their money through online basis. This is not a right act because people are losing their trust through this cybercrime act and don’t feel comfortable at all in using any of the online platform as the ratio is increasing day after day, but still they don’t feel comfortable and all this is because of cybercrime act.

Categories of Cybercrime

Cybercrime itself is a complete word and is being done on large scale but here we are going to discuss about the other three major and important categories of the cybercrime:

  1. Cybercrime that is Being done Against the People:

This the kind of cybercrime that include out the cyber harassment along with the stalking of an individual as well to get all of the essential and important details being required. Credit card fraud is also being done through this kind of the cybercrime, spoofing and an identity theft as well.

  1. Cybercrimes Being done Against the Property:

There are some of the online crimes that are taking place against the property, an example can be taken here that is server or the computer. All of these crimes include out the attacks related to DDOS, transmission of the virus, hacking, computer vandalism and all along with the violations of IPR that is being done. (Brenner, 2010)

  1. Cybercrimes Being done Against the Government:

When any kind of the cybercrime is being committed against the acts and laws being set by the government, it is definitely considered to be an attack on the sovereignty of that nation without any of the second thought. Cybercrimes that are being done against the government includes the list of hacking, cyber warfare, accessing of the information that is considered to be confidential and many more like this in the list. In short cybercrime attacks are being done everywhere and the ratio is increasing day after day. (Nurse, 2019)

Conclusions

It has been concluded that cyber crime is taking the world to a worst condition. Making it not a safer place for the world’s best economies. Poor countries may have to face a lot of crisis. There is a need to improve the system and activate our cybersecurity systems so that crime rates through internet could be lessened. In the same way, it will be much beneficial for a country to be good in most affairs without the tension of steeling confidential documents.

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