Cybercrime, put simply, is any crime carried out over either a network or a computer (or both).
A criminal may have many different motives, be it to damage or disable a network, to spread malware and false information, to infect a computer or network with a virus, or to steal customer information from a company and then hold that information for ransom.
We also live in a world where cybercrime is a significantly greater threat than most people realize, with an average of one new hacker attack every 39 seconds.
This is just one of several startling statistics and trends that we are seeing today in 2018. Here are five more trends that we are seeing as well:
1 – Cybercrime Is Projected To Double In Costs In The Next Few Years
In 2015, the total global cost of cybercrime damages reached over $3 trillion. That number is expected to double to $6 trillion by 2021.
There are a variety of factors to help explain this growth in costs. For one thing, the rapid growth of new internet users is largely a result of new people accessing the internet from countries and areas that have weak cybersecurity, making them a prime and easy target for hackers. From 2016 to 2017 alone, the worldwide number of internet users grew by 480 million.
Hackers and cybercriminals themselves are utilizing advanced new hacking technology and tactics to make cybercrime easier.
For example, as information has gone digital, many people and businesses have turned to saving their sensitive information in the cloud rather than on their computer or network. As efficient as they may be, hackers have now turned to more sophisticated hacking tactics to gain access to information in a cloud-based server. As a result, storing your information in the cloud does not make it impervious to being hacked.
All in all, as more people use the internet, cybercrime is only becoming more frequent and more expensive, not to mention easier for the hackers. As the costs of cybercrime are projected to double in the upcoming years, new solutions will have to be found to help combat it.
2 – State Sponsored Attacks Are On The Rise
The reality of state sponsored cyber attacks is one of the most concerning aspects of cyber security. These attacks are almost always either financially or politically motivated, designed to attain information on another country to political rival, or to try and sway public opinion.
State sponsored cybercrime are also almost always very well funded and well planned out. North Korea, Iran, China, Russia, and the United States are the countries with the strongest record of unleashing such attacks. Regardless of which country is responsible, the government will ensure that their internal network is separated from the internet before the attack is carried out.
In fact, in many ways state sponsored cybercrime is now the predominant form of warfare we are seeing today.
It’s certainly easy to see why: cyber warfare is easier and less costly than traditional warfare, not to mention it can also be far more effective in running a strategic, well-coordinated, and successful attack.
Many experts also believe that the United States is incredibly vulnerable to a cyber attack. As cyber warfare becomes even more attractive and less risky for countries, and as challenges continue to grow in protecting technology, it’s questionable as to whether or not the United States would be able to stop a major cyber attack on its infrastructure.
3 – More People Are Going Anonymous On The Web
As cybercrime becomes a more serious and prevalent threat, the number of reasons to remain anonymous on the web is only continuing to grow so you can limit as much information as hackers can track as possible.
Fortunately, there are a number of tactics you can use to increase your online privacy and go anonymous on the web. One technique will be to block or delete third party cookies (which can be accomplished simply by heading to your browser’s privacy settings to stop tracking your movements across browsers.
Another tip for going anonymous on the web will be to not allow your browser to send out your geographical location. To do this, simply deny a location request whenever it is requested. If any websites are tracking your location, you can change that in the ‘preferences’ section of your respective browser.
One last strategy you can use to help preserve online anonymity will be to hide your IP address when you are surfing the web. Your IP address is simply a 32-bit number that is assigned by the IANA (Internet Assigned Numbers Authority).
Hiding your IP address is important because if hackers are unable to find your IP address, then it will be much more difficult for them to plant malicious software into your network.
The easiest way to hide your IP address is to use a VPN (Virtual Private Network), which is simply a service that allows you to create an encrypted connection to the internet via a server that is given to you by a VPN provider. Since the connection is encrypted, no one else has any access to it (not even the provider will have access).
Another benefit to using a VPN here is that they can help stop a DNS (Domain Name System) leak as well to further help protect your IP addresses’ identity. A DNS server’s role is to translate any domain name into an IP address, but a leak can occur when the DNS requests the IP address to be revealed to an ISP DNS server.
4 – Multi-Factor Authentication Is Now A Necessity
Do you want to know what the most common cause of a data breach is?
That’s right: hacked passwords.
Most people and companies continue to use passwords that are short and weak, making them easy for hackers to crack. While you can certainly improve this by using passwords that are longer and more complicated, it’s still not enough if you want to be on the safe side.
What you will need to do is employ multi-factor authentication in order access your online information.
Multi-factor authentication simply offers you an extra layer of security to help prevent data breaches. In addition to a password, you may also have to answer a security question, type in a pin, type in a passcode from your smartphone, or even give your fingerprint.
Many people nonetheless despise multi-factor authentication.They view it as a nuisance, a hassle, or additional steps that you need to follow through. It’s really for this reason that many people and organizations fail to use it.
Nonetheless, multi-factor authentication really is becoming a necessity in today’s world. One of the most effective authentication measures of all is biometrics, which actually prove your identity unlike passwords or PIN numbers can (you’ll simply need to scan your fingerprint on your phone).
5 – The GDPR Is Changing The Way Businesses Handle Online Security
The GDPR, or General Data Protection Regulation, went into effect in May of 2018 and by far represents the most significant overhaul of rules and regulations regarding the online privacy of European Union citizens in history.
The GDPR basically requires businesses and companies to protect the privacy and personal data of customers and clients who are EU citizens. ‘Personal data’ under the GDPR simply refers to anything from the customer’s name to their email address to their home address to their photos to their financial information and so on. Businesses and websites are also required to obtain consent before they can take and store a customer’s personal information.
Even if your business is not located in the EU, if you are doing business with EU citizens, you will need to be compliant with the GDPR. Failing to be compliant can cost you dearly, with penalties for non-compliance being the greater of either twenty million Euros or 4% of your worldwide turnover.
As a result of these changes, the pressure is even greater on online businesses to protect their customer’s data. Not only do online businesses need to obtain consent to gain the data of EU customers via affirmative action, they also need to ensure that they encrypt that data, perform constant routine checks on their frameworks, and even hiring DPO’s (data protection officers) to ensure that the business remains GDPR compliant in all areas.
All in all, these five represent the top trends that we are witnessing in regards to cybercrime for 2018: the costs of cybercrime and state sponsored attacks are on the rise, going anonymous when searching the web and employing multi factor authentication is now becoming a necessity, and the GDPR is forcing greater pressure on private businesses to adequately protect their customer information
With these trends in mind, and with literally millions of malware attacks being launched everyday, it’s very important that you recognize the threat cybercrime poses to your business or website, and that you take action to limit the chances of being a victim, and that you also learn how to isolate and respond to any attack before it spreads throughout your network.