Cybercrime and The Impact It Has On Business

Cyber crime is the act of committing a crime using a computer or the internet as an instrument. While most cyber crimes are carried out in order to generate profit for the cyber-criminals, some cyber crimes are carried out against computers or devices directly to cause damage or to destabilize them. Others, however, use computers or networks to spread malware, illegal information, images or other materials. The different types of cybercrime include committing fraud, trafficking in child pornography and intellectual property, stealing identities, or violating privacy.

There is a substantial rise in cyber crimes among American businesses, according to the Federal Bureau Of Investigation. This rise in cyber crimes is costing the American businesses a fortune. Cyber crime involves a myriad of criminal practices designed to breach the computer security of a certain company.

Cyber crimes like stealing the financial information of a business or its clients, denying service to the company website or infiltrating a virus that is capable of monitoring a company’s online activity in the future are just a few of the objectives that cyber criminals have in attempting an electronic break and enter. All online businesses will, in one way or another, have to deal with cyber crime.

In 2005 the National Computer Security Survey (NCSS) reported that 67% of surveyed businesses have encountered at least one type of cyber-crime. The fight against cyber crime has proven to be both expensive or difficult to maintain due to the emergence of new methods. The following are a few of the different ways that cyber-crime may affect companies and their clients.

How Much Is Protection Against Cyber Crimes Worth

Business entities that are looking to put up protection against online thieves need to be able to come up with a large sum of money. Being able to do certain cyber crime protection tasks like identifying risks, building new and safer operating procedures, and buying protective software and hardware is very costly even for a big company. Hiring and employing a cyber-security consultant to help in developing a customized solution is an essential requirement in protecting against cyber crimes or businesses with complex or sensitive operations.

Lost of Sales

Nowadays, it’s not just online thieves that are labelled as cyber criminals. Cyber-activists are a new subculture which has emerged in the past couple of year and are considered to be the online equivalents of protesters who most commonly cause public disturbance or gather attention by doing obscure practices just to get their points across. Shutting down the online operations of a company is their main purpose. They do this to send a message to the public about the questionable business practices of the company their going after. Major corporate companies like Paypal and Mastercard have encountered such attack methods in the last couple of years.

Adjusting to the Threat By Changing Business Methods

Cyber crimes have made a reputation of influencing businesses more than just financially. Companies now need to make the extra effort of rethinking how they collect and store information just to ensure that sensitive information isn’t defenseless. Many companies have halted the storing of customers’ financial and personal information, such as credit card numbers, social security numbers and birth dates.

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