THREATS OF CYBER CRIME
Cyber crime affects many aspects of business and economics in general. It also
may become even more sinister, in that it may directly harm the physical as well as
mental well being of people. Special Agent William Shore presented to the audience
many specific cases that have already been resolved and presented general explanations
of the solutions.
Impact of economic loss due to cyber crime is different for small business as
compared to larger businesses and or corporations. Small business inherently would not
be able to recover, do to the fact that small business does not have the capacity regarding
economic stability in comparison to larger business. Loss of jobs is the most common sit
effect of such malicious action, in that small business would not be able to compensate
for the subsequent losses. Reasoning for the targeting of business in general would be to
acquire intellectual property that could be sold to produce profit at the owners’ expense.
Cyber crime is not limited to the malicious attack of business. It also presents
threats to critical infrastructure. Terrists make the potential threat to infrastructure.
Because of the fact that computers control today’s systems, they are vulnerable to cyber
attack. Cyber attack is the most common means of terrorism. The necessity to protect the
networks of these systems is imperative. With proper precautions taken, the likely hood
of such attack is not feasible, in that encryption of files would be too difficult to decipher.
“The United States was the top country of attack origin”. Most of the malicious software
was produced within the United States. Other threats are directed towards individuals, by
means of identity theft and credit card fraud. The Federal Trade Commission (FTC)
estimates that ten million dollars annually is lost to such action. The means of
accomplishing identity theft and credit card fraud are web browser software, which
includes phishing and spam. These items are to enable the operator of the malicious
software to access the targeted computer. Because home users are less security conscious,
they make up the basis of the attacks, approximately ninety-five percent. Another subject
of concern is BOT net, which includes spam, click fraud, denial of service, and storm
worm. Storm worm is perhaps the most critical of all of these items. The purpose of a
storm worm is to infect a personal computer. After infection occurs, complete control of
that computer is achieved. The computer is then used to commit other crime.
As technology advances to counter cyber crime, shift in attack occurs. Social
Engineering becomes a more viable means of extracting information from targeted
sources. Social Engineering is the act of manipulating people for the purpose of gaining
some thing at that persons’ expense. This primitive means of attack is the easiest to
perform, in that the information is only as secure as the person that is being targeted.
The threats of cyber crime are steadily increasing. The technology that serves
constructive intentions is also used to harm. The economic losses suffered are staggering.
The need to protect information is increasing as result of this. This concept encompasses
small and large business as well as individuals that are for the most part home users of
personal computers.