Cyber Crime in Global Companies Paper

In the cyber world, there are no official country borders. Cybercrime is global. An individual committing a cyber-crime has manipulated the internet to commit fraud or spy on another person, or violate their privacy in some other way. Cybercrime aimed at corporations is aimed at breaking into their systems for different reasons and gaining access to their information. The erasure of a file or modifying a few numbers is all it takes to cause enormous damage to an organization’s database.

Attackers dominate in cyber conflict due to its asymmetric nature. Due to its physical emptiness, cyberspace is easy to access by cybercriminals and groups hiding their identities. It is crucial that a corporation detects and responds correctly to an attack to minimize the damage. A comprehensive response usually takes them weeks, even months.

Factors Affecting Cyber-crime
Several factors contributing to the growth of cyber-crime are :

High-speed broadband systems – Businesses are more likely to fall victim to cyber-attacks leveraging high-speed broadband networks due to the widespread adoption of the internet.

Cloud computing and mobile technologies – Increasing mobile technology and cloud computing has led to an extensive volume of sensitive business information that unauthorized parties can access.

Growing Technology – Hackers can operate quickly and stealthily at an increasingly rapid speed thanks to technology, so they can far outpace traditional IT security systems’ ability to protect companies.

Methods of Cyber-crimes
Accessing corporate systems can be accomplished in various ways, some of which are more technical than others. However, the most common ways are low-tech when it comes to their method in terms of their execution. Spy missions have been conducted by convincing those who have access to sensitive information to give the spies the same access since their inception. Similar activities occur in cybercrime today, but they are conducted online, and passwords are usually exchanged. Generally, there are three ways to achieve this.

Security breaches – Employers are bribed by hackers who use their social skills to persuade them to grant them access. Threats, blackmail, or promises of rewards to the person inside are some of the methods they use. This is simply them speaking appropriately to the appropriate person.

Spam phishing – For greater access, alternative access methods are used. An attacker can spoof the owner’s email to send someone a message from the inside and get them to reveal sensitive information when someone’s email has already been compromised.

Social media fraud – There are many ways to obtain this. A social engineering tool can use methods such as one of the two types above, or it can be found through access to a person’s social media accounts and researching their passwords and security keys.