Methods used to commit and prevent cybercrime

Cyber Crime: Threats and Preventive Measures / Cyber Crime: A Rising Problem

Methods Used to Commit Cyber Crime

Methods Used to prevent Cyber Crime

The area of cybercrime is growing rapidly. An increasing number of criminal-minded individuals are taking advantage of the unrecognizability, speed, and convenience offered by the Internet, for perpetrating a variety of crimes, which know no bounds, either virtual or physical, causing grave harm and posing very real risks to victims across the globe. New cybercrime trends crop up every now and again, costing the world economy several billion dollars. Earlier, cybercrime was largely perpetrated by small groups or individuals. Of late, however, the world is witnessing extremely advanced cybercriminal networks that combine real-time efforts of individuals from all over the world to perpetrate web-based offenses on an extraordinary scale (Sundaram & Umarhathab, 2011).

Lottery Fraud

This form of cybercrime constitutes only one of various forms of advance-fee scams, where criminals try to coax potential victims into paying advance fees or fairly small amounts of cash for any service they haven't sought. In lottery scams, perpetrators demand for money to be disbursed in order to receive a tremendous lottery. Quite often, the names of well-known institutions or corporations are cited for lending an impression of credibility to the lottery claim. Common media utilized by these scammers are cell phones, the Internet, and mobile devices (Interpol, 2015).

Scam Emails

Another name for this form of crime is 'phishing'. In a majority of cases, phishers dispatch spam emails to millions of email accounts. Each email comprises of what seems to be from a trusted, popular company. At times, recipients are directed via a link in the email to some spoofed web page. Just like the email, the site also appears to be genuine; in some cases, the site's URL is masked for the address to appear real. These sham websites encourage visitors to key in confidential information -- bank account numbers, social security numbers (SSNs), passwords, etc. Making the email as well as the corresponding website appear legitimate, phishers hope that a small number of recipients, at least, are tricked into disclosing confidential information (Norton, 2015).

Advance Fee Loan Program

Advance-fee credit card or loan frauds usually target individuals with low credit. Scammers may begin their attempt to hoodwink desperate customers by submitting a newspaper advertisement or launching a legitimate-looking website that offers lending services online. The ad may go along the lines of "Bad credit, don't fret -- get loans by calling (a certain number) or applying online). Consumers who venture to try it out get a prompt response telling them they qualified for the loan, but have to pay a certain sum for application processing, or as security deposit, or for insurance. Victims disburse money, but do not receive any credit card or loan (Schuette, 2015).

Methods Used to Prevent Cyber Crime

For any person who becomes a victim of online scams, there are numerous steps to be undertaken for combating/resolving it, as well as ensuring that a repeat incident doesn't occur. Consumers should make sure to monitor all of their financial accounts. Criminals, at times, attempt small purchases for ascertaining whether the transaction clears. When transactions clear, criminals understand that they have stumbled upon an unsuspecting individual, and then proceed to make use of all funds available to them. Banks and financial companies provide services for protection against frauds, which flag any transaction inconsistent with routine purchases, or purchases made outside consumers' region of residence. Such protection takes care of consumer anxiety, and also saves effort and time for financial institutions. If they can prevent fraudulent transactions by asking for a confirmation from clients, they will be saved from wasting resources on funds that, ultimately, are lost. Aside from scam protection services, banking/financial institutions offer guidelines along with responsibilities to consumers, for prevention of and protection against fraud. The United Services Automobile Association lists numerous responsibilities, including: logging out without fail after every banking session ends, reviewing accounts on a monthly basis, cooperating with the organization in the course of ongoing investigations, and changing potentially-compromised passwords. Tools and resources are present for consumer protection in the event they fall prey to frauds, but awareness up front for preventing frauds from happening is crucial. By understanding, monitoring accounts, and acquiring knowledge, consumers and financial institutions can together tackle the most popular forms of fraud plaguing the financial and banking sectors (Reyes et al., 2011).

Conclusion

In accrual fact, the issue of cybercrime isn't a technology issue, but a strategy issue, a process issue, and a human issue. Organizations aren't, after all, under attack by computers. Rather, it is individuals who attempt to take advantage of human frailty, and technical vulnerability that contributes to cybercrime (Sundaram & Umarhathab, 2011).