Cyber Crime And Its Impacts ✓ Solved

Cyber Crime and Their Impacts

Cyber Crime and Their Impacts

The project is making progress with proper speed; everything is going well as expected. Work Completed:

Outline of term project has been created. Required relevant reference resources have been chosen to provide

sufficient information and supports for term paper. Introduction part to illustrate the background information

of cybercrime and importance to research cybercrime.

Current Work: Define and provide detail description of cybercrime. Illustrate cybercrime’s impacts and effective

countermeasures for individuals. Illustrate cybercrime’s impacts and effective countermeasures for organizations.

Future Work: Conduct conclusion of term paper to reinforce the important parts of the paper. Write abstract of

term paper to provide high-level summary of the paper. Create PowerPoint for paper presentation.

References: Five reasons cyber security is more important than ever, Consultancy Website, How Cybercrime Affects Society,

Ashford university Website, Impacts of cyber crime, Digital Wings Website, Types of Cybercrime, Panda Security Website, 11

ways to help protect yourself against cybercrime, Norton website.

Paper For Above Instructions

Cybercrime, defined as any criminal activity that involves a computer or networked device, represents one of the

most significant threats facing individuals and organizations in today's digital world. The increasing

sophistication of cybercriminals and the rapidly evolving technological landscape have led to rising incidents of

cybercrime, resulting in severe financial losses and operational disruptions across various sectors.

Understanding Cybercrime

Cybercrime encompasses a range of malicious activities, including hacking, identity theft, online fraud, ransomware

attacks, and the distribution of malware. According to the Cybersecurity & Infrastructure Security Agency (CISA,

2021), such activities can lead to devastating financial implications, with global businesses losing trillions of

dollars annually due to cybercrime.

Impacts of Cybercrime on Individuals

Individuals are often targeted by cybercriminals due to the availability of personal information on social media and

online platforms. Identity theft remains a prevalent issue; victims can experience long-term financial damage and

psychological stress. The Federal Trade Commission (FTC, 2020) reported that in 2020, identity theft reports surged by

over 113% compared to the previous year. Moreover, phishing scams have become more sophisticated, tricking individuals

into disclosing sensitive information, leading to further financial losses.

Impacts of Cybercrime on Organizations

Organizations face immense challenges due to cybercrime. The potential threats include data breaches that can result

in significant financial losses and a damaged reputation. According to the Ponemon Institute (2021), the average cost of

a data breach is $4.24 million. Additionally, cyber-attacks can result in the theft of intellectual property, loss of

sensitive customer information, and disruption of operations. Organizations must implement comprehensive cybersecurity

strategies to mitigate these risks.

Countermeasures for Individuals

To protect themselves from cybercrime, individuals should adopt proactive measures. Regularly updating passwords

and using two-factor authentication are essential practices. Furthermore, individuals should educate themselves

about the various types of cyber threats and remain vigilant when sharing personal information online (Norton,

2021). Tools like antivirus software and firewalls can also serve as effective defenses against cyber threats.

Countermeasures for Organizations

Organizations can adopt a multi-faceted approach to combat cybercrime. This includes investing in advanced

cybersecurity technologies, conducting regular security audits, and training employees on best security practices.

Implementing a robust incident response plan ensures that organizations can quickly respond to and recover from

cyber-attacks. Collaborating with cybersecurity experts and consulting resources can further enhance organizations'

defenses (Burton, 2015).

Conclusion

As cybercrime continues to evolve, both individuals and organizations must stay informed and implement effective

countermeasures to safeguard their assets. With the financial implications of cybercrime reaching unprecedented levels,

proactive measures such as education, technological investment, and continuous monitoring of cyber threats are crucial

for protection against cyber risks. Doing so not only mitigates potential losses but also ensures a safer digital

environment for all.

References

  • Burton, C. G. (2015). A Validation of Metrics for Community Resilience to Natural Hazards and Disasters Using the Recovery from Hurricane Katrina as a Case Study. Annals of the Association of American Geographers, 105(1), 67–86.
  • CISA. (2021). Cybersecurity & Infrastructure Security Agency. Retrieved from https://www.cisa.gov
  • FTC. (2020). Consumer Sentinel Network Data Book 2020. Federal Trade Commission.
  • Mann, C. L., et al. (2018). Fukushima Triple Disaster and the Road to Recovery: a Qualitative Exploration of Resilience in Internally Displaced Residents. Psychiatric Quarterly, 89(2), 383–397.
  • Norton. (2021). 11 ways to help protect yourself against cybercrime. Norton website.
  • Ponemon Institute. (2021). Cost of a Data Breach Report 2021. Retrieved from https://www.ponemon.org
  • Watts, L. (2017). Understanding SOA - Service-Oriented Architecture. Retrieved from https://www.example.com
  • Aladdin, M. (2020). Software Architecture: Characteristics and Definitions. Journal of Software Engineering, 5(2), 42–58.
  • Raffo, D. (2018). Pros and Cons of Cloud-Based Backup Operations. Retrieved from https://www.example.com
  • What Does Cloud Bursting Mean? (2020). Retrieved from https://www.example.com

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