Effect of cyber crime

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Effect of cyber crime

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With the recent surge of cyber-crime, it is essential that organisations and individuals review their security guidelines to prevent falling victim to an attack. Shares Cyber-crime is on the rise, and given the growing use of technology and the growing volumes of data organisations and Effect of cyber crime users face, it is no surprise.

Recently, British Airways were struck by an outage that left not one but two data centres dormant for several days.

Cyber-crime clearly has damaging effects for those who fall victim, but how far does the problem spread and how damaging can it be? Cyber-crime 2, cyber-security 0 It is difficult to talk about cyber-crime without looking at the cyber-security measures implemented.

Effect of cyber crime

Furthermore, it is difficult to talk or read about cyber-security without coming across malware and in recent times more specifically WannaCry; WannaCry was a large-scale attack that combined multiple techniques to exploit vulnerable systems with devastating effect.

Among theor so organisations affected, across countries, was the British National Health Service NHS which saw over 40 hospitals hit. With cyber-attacks able to cause such damage to networks and shut down services, the effects could be extremely damaging.

The hack which gave the criminals access, was the result of months of planning and involved a phishing scam of emails designed to look like they had come from friends and colleagues, to obtain passwords.

Besides the potential of reputational damage and the negative effects to consumers and customers, suffering from a cyber-crime should be a real warning to any organisation.

Defining cybercrime

Down-time and outages are going to cost money as will recovering from them by paying a ransom or otherwise. Although these events are often unpredictable, companies and organisations of all sizes can implement more solutions and strategies to prepare for the chance of being hit by a targeted attack that causes data loss.

Best practice in any organisation should ensure there are processes, plans and procedures in place to deal with an outage or disaster, natural or otherwise. This plan, a business continuity plan BCPshould be a well-documented set of steps to help identify and resolve issues in the quickest available timeframe, minimising the fallout.

Business continuity plans should consider the value of data and which systems are most vital to the businesses ability to get back to operational capacity. It is likely, of course, that BA had a robust and tested DR and BCP, but this does not explain why it was not implemented correctly when it mattered most.

The NHS is a vast organisation that faces a unique set of challenges. As a publicly funded organisation, with budgets being cut year on year, there is an immense pressure to cut costs and to spend more efficiently — there is a world of difference in spending efficiently and buying cheaply though.

As damaging as WannaCry was, it could have been prevented. With up to date software and technology it is likely that the spread of the infection may have been less, if it was able to infect systems at all.

Effect of cyber crime

The other point that should be noted is that if secure, backups were implemented and working correctly systems could have been recovered in a matter of hours. How does this translate for SME and other organisations? However, if data is lost to ransomware or any other threat the effects could be more damaging.

For smaller organisations having to pay a ransom, or even a fine for a data breach will be relatively higher.

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It is important that third-parties are following best practices such as having a business continuity and disaster recovery plan, backing up all data and minimising the risk of data loss.

As an individual with concerns over data security and your personal IT, or as a professional responsible for IT, cyber-security is something to be taken seriously.

Although IT environments vary widely there are simple steps that can be taken to identify and reduce the risk you face. Review The first step in any security or management related IT project should be to review what is currently in place.

By reviewing what data and data sources are within your environment, as well as any previously identified weak points you can gain a quick understanding of how well prepared and protected you are against cyber-threats. Update Cyber-threats are evolving at an astonishing rate and software and solutions providers can only do so much to keep protecting against them.

However, in almost all software updates now there are important bug fixes and security patches that protect against the latest threats.

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The second area that will benefit from an update is internal documentation and procedures around data management and protection. Having solid policies on data management is likely to decrease the amount of data you have and add to the security of it, giving cyber-criminals less to target.A blog about computer crime, digital evidence, and the cases and criminals related to those crimes.

Malware, botnets, spam, and phishing. One of the most palpable effects of cyber crime is its disastrous monetary consequences. The chief aim of all cyber crime is economic; that is, most crimes are .

Combating Computer Crime. Computer crime is one of the fastest-growing types of illegal activity, both in the U.S. and abroad. Indeed, much of the computer crime Americans face is from foreign sources, making regulation of these activities by police authorities exceedingly difficult.

Protect your business against cyber threats. Cyber Essentials is a government-backed and industry-supported scheme to guide businesses in protecting themselves against cyber threats.

Cyber crimes are prevailing as criminals are targeting sensitive information to gain rich harvest. Cross Domain Solutions attempts to tackle this concern for organizations dealing with critical information.

GE Supplier Policies: For more details on a specific GE Policy, select the desired link below.

Economic Impact of Cybercrime Report | McAfee