Cyber Crime to Extend $2 Trillion By 2019: What Can We Do?
By Prempal Singh
How do companies protect themselves from the espionage, robbery and the information theft? Generally, there are several essential steps to follow.
During the last ten years, our lives have changed. The increased consumption of the Internet made blurred some lines between the digital and the real world making some processes faster.
Ordinary people are enjoying this change, as life is becoming much easier to them.
Large companies and enterprises experience some negative sides of such changes, though. They are organizing for a huge grasp cyber crime.
General Criminal offenses Numbers:
Ginni Rometty, the Chairman of IBM Corp, mentioned in his recent interview that cyber criminal offenses wave, as they known as it a couple of years ago, has already converted into an epidemic.
It cost U.S. companies $100 billion in 2013, although some reports were already referencing ten times higher amounts. This amount quadrupled over three years. In 2015, Lloyd’s, the British insurance company, estimated that internet attacks cost companies and businesses about $400 billion dollars a year, the industry modest amount.
What goes into this huge number? Equally direct damage to business and investment property for dealing with attack later. Therefore, this digitalization we mentioned previously can potentially cost the enterprises a penny or two.
The Krancewitt Networks cooperates with the bigger world companies. This kind of cooperation contributes to the cyber security researchers the company runs. General habits together with the studies give us a chance to peek forward of cyber crime. And that we can see another quadrupling in cyber crime cost for three years. In total, it is approximate $2.1 trillion by the yr 2019.
What Is a Cyber Crime?
The description of the cyber crime is pretty vast. Here you have several components it provides. In a nutshell, cyber crime is the crime with a PC (or cyber) aspect to it. Identity theft cases and telemarket frauds conducted via Internet are cyber criminal activity as well. Starting depth, you see that web crimes are not that simple. You will discover smaller and bigger cases of web crime. Yes, identity robbery feels like a great deal for a victim, but it’s actually a smaller issue. A stock market manipulation and a company espionage are larger things.
Cases of these cause billions of dollars’ failures for the larger corporations. The Type 2 web crime usually involves the repeated interactions with the target. Most of the time criminals make an effort to stay undetected as long as possible. In this way, they can go on stealing and triggering damage for a great deal of time. The experts are now talking about the organized cyber criminal offenses.
This business is hunting down a sensitive data of the larger companies. Later on, they sell the information to the frauds or rival companies and get their profit. How can companies try to avoid the espionage, robbery and the information theft? Generally, there are several essential steps to follow.
Essential Techniques for Protecting Your Organization From Cyber Criminals:
What type of information do cyber criminals want? The essential details of them are:
1. Email addresses
2. Public Security quantity
3. Credit cards numbers
4. Bank information
5. Item information
6. Birth dates.
After that be sure to follow these tips:
1. Encrypt your data. No problems, investment decision you won’t interrupt the workflow. However, it will keep criminals away from important computer data. To make certain every bit is secure, encrypt all the drives, folders and wifi network. This way, even if files will be stolen, they might be worthless for a thief.
2. Upgrade regularly. This applies to several things in the organization. First, it is the procedure system (OS). Out-of-date OS is weak and easy to break in. And so are old versions of the web internet browsers. Be sure to upgrade them whenever new types are released. A strong firewall is one more security tool for your business. Try to use the powerful one and update it on a regular basis. It will effectively oppose viruses and phishing attacks on your company’s hardware.
3. Restrict software installing. Set several levels of rights and gain access to the software part of the system. This will help to provide employees with the exact access they need. In this way, you will ensure people will never install any malicious programs to any computer in {the device|the machine|the program.
4. Use security policies. For instance, security password policies and data gain access to controls.
5. Filter the information and the Internet surfing options. The storage clouds are popular and convenient for workers. But if they are working with the sensitive and confidential data, using storages is a no-no for them. Simply by limiting the Internet browsing option, you will keep your entire information inside the company.
6. Protect bank data files and credit cards. Always be sure the personal documents and the business documents are separated. In the circumstance, your company is interacting with the paper charges, switch to online obligations. In case it is impossible, use a secure mailbox. And regularly check online banking for any suspicious activity.
7. Educate the employees. Limiting the gain and the website use might seem to be a draconian method? It’s well worth trying, though. Many organizations the world monitor their employees’ online activity and limit access to certain sites. Some use monitoring tools such as Staffcop or Pump. Yet, teaching the employees about security can be an extra defense against fraud. Keep regular training for your employees. Teach them about the safety threats, the software, and hardware use. It would be a good preventive measure for future cyber attacks.
The Bottom Line:
However, these guidelines would help to minimize the losses your company might incur. Plus, we are giving you the previous tip for today. Generally, there are so-called white-hat online hackers on the market. Their particular main task is supporting companies and enterprises with security alarm. They use the same methods cyber crooks do, nevertheless for your own good. They search for the weaknesses in your company system and try to break through.
If perhaps they succeed, you will really know what you should repair. Run this check every once in awhile and you will be fraud-proof against cyber criminals.
Source: www.business.com