Cyber Crimes

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Friday 27 December 2019

December 27, 2019

Cybercrime legislation and agencies

Cybercrime legislation and agencies

For the legislation and prevention of cyber crimes many agencies and organizations have been formed.


Like the Federal Investigation Agency (FIA) which was formed in Pakistan for the prevention of cyber crimes. 

The FIA has been working for decades to prevent cyber attacks in Pakistan.





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December 27, 2019

How to prevent cybercrime?

How to prevent cybercrime?


Use two-factor authentication.
Activate 2FA on every account when possible.

Keep websites, endpoint devices and systems current with all software release updates or patches.

Backup data and information regularly.

While it may not be possible to completely eradicate cybercrime and ensure complete internet security, businesses can reduce their exposure to it by maintaining an effective cyber security strategy using a defense-in-depth approach to securing systems, networks and data.

Some steps for resisting cybercrime include the following:

  • develop clear policies and procedures for the business and employees;

  • create cyber security incident response management plans to support these policies and procedures;

  • outline the security measures that are in place about how to protect systems and corporate data;

  • use two-factor authentication (2FA) apps or physical security keys;

  • activate 2FA on every online account when possible;

  • verbally verify the authenticity of requests to send money by talking to a financial manager;

  • create intrusion detection system (IDS) rules that flag emails with extensions similar to company emails;

  • carefully scrutinize all email requests for transfer of funds to determine if the requests are out of the ordinary;

  • continually train employees on cyber security policies and procedures and what to do in the event of security breaches;

  • keep websites, endpoint devices and systems current with all software release updates or patches; 

  • Back up data and information regularly to reduce the damage in case of a ransom ware attack or data breach.

Information security and resistance to cybercrime attacks can also be built by encrypting all computers' local hard disks and email platforms, using a virtual private network (VPN) and by using a private, secured domain name system (DNS) server.


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December 27, 2019

Effects of cybercrime on businesses

Effects of cybercrime on businesses

The true cost of cybercrime is difficult to assess accurately. In 2018, McAfee released a report on the economic impact of cybercrime that estimated the likely annual cost to the global economy was nearly $600 billion, up from $45 billion in 2014.
While the financial losses due to cybercrime can be significant, businesses can also suffer other disastrous consequences as a result of criminal cyber attacks, including the following:

  • Damage to investor perception after a security breach can cause a drop in the value of a company.

  • In addition to potential share price drops, businesses may also face increased costs for borrowing and greater difficulty in raising more capital as a result of a cyber attack.

  • Loss of sensitive customer data can result in fines and penalties for companies that have failed to protect their customers' data. Businesses may also be sued over the data breach.



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December 27, 2019

Cyber espionage

Cyber espionage


A crime involving a cybercriminal who hacks into systems or networks to gain access to confidential information held by a government or other organization. Attacks may be motivated by profit or by ideology. Cyber espionage activities can include every type of cyber attack to gather, modify or destroy data, as well as using network-connected devices, like webcams or closed-circuit TV (CCTV) cameras, to spy on a targeted individual or groups and monitoring communications, including emails, text messages and instant messages.

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December 27, 2019

Common Example of Cybercrime

Common Example of Cybercrime



Some of the more commonly seen cybercrime attacks include distributed DoS (DDoS) attacks, which are often used to shut down systems and networks. This type of attack uses a network's own communications protocol against it by overwhelming its ability to respond to connection requests. DDoS attacks are sometimes carried out simply for malicious reasons or as part of a cyber extortion scheme, but they may also be used to distract the victim organization from some other attack or exploit carried out at the same time.Phishing campaigns are used to infiltrate corporate networks by sending fraudulent emails to users in an organization, enticing them to download attachments or click on links that then spread viruses or malware to their systems and through their systems to their company's networks.Other common examples of cybercrime include illegal gambling, the sale of illegal items like weapons, drugs or counterfeit goods and the solicitation, production, possession or distribution of child pornography.Effects of cybercrime on businesses:The true cost of cybercrime is difficult to assess accurately. In 2018, McAfee released a report on the economic impact of cybercrime that estimated the likely annual cost to the global economy was nearly $600 billion, up from $45 billion in 2014.While the financial losses due to cybercrime can be significant, businesses can also suffer other disastrous consequences as a result of criminal cyber attacks, including the following:

⦁Damage to investor perception after a security breach can cause a drop in the value of a company.

⦁In addition to potential share price drops, businesses may also face increased costs for borrowing and greater difficulty in raiting more capital as a result of a cyber attack.

⦁Loss of sensitive customer data can result in fines and penalties for companies that have failed to protect their customers' data. Businesses may also be sued over the data breach.

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December 27, 2019

Exit Scam

Exit Scam


The dark web, not surprisingly, has given rise to the digital version of an old crime known as the exit scam. In today's form, dark web administrators divert virtual currency held in marketplace escrow accounts to their own accounts -- essentially, criminals stealing from other criminals.


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December 27, 2019

Software Piracy

Software Piracy


An attack that involves the unlawful copying, distribution and use of software programs with the intention of commercial or personal use. Trademark violations, copyright infringements and patent violations are often associated with this type of cybercrime.


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December 27, 2019

Cyber espionage

Cyber espionage



A crime involving a cybercriminal who hacks into systems or networks to gain access to confidential information held by a government or other organization. Attacks may be motivated by profit or by ideology. Cyber espionage activities can include every type of cyber attack to gather, modify or destroy data, as well as using network-connected devices, like webcams or closed-circuit TV (CCTV) cameras, to spy on a targeted individual or groups and monitoring communications, including emails, text messages and instant messages.

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December 27, 2019

Credit Card Fraud

Credit Card Fraud



An attack that occurs when hackers infiltrate retailers' systems to get the credit card and/or banking information of their customers. Stolen payment cards can be bought and sold in bulk on dark net markets, where hacking groups that have stolen mass quantities of credit cards profit by selling to lower-level cybercriminals who profit through credit card fraud against individual accounts.

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December 27, 2019

Identity Theft

Identity Theft



An attack that occurs when an individual accesses a computer to glean a user's personal information, which they then use to steal that person's identity or access their valuable accounts, such as banking and credit cards. Cybercriminals buy and sell identity information on dark net markets, offering financial accounts, as well as other types of accounts, like video streaming services, webmail, video and audio streaming, online auctions and more. Personal health information is another frequent target for identity thieves.

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December 27, 2019

Crypto Jacking

Crypto Jacking


An attack that uses scripts to mine crypto currencies within browsers without the user's consent. Crypto jacking attacks may involve loading crypto currency mining software to the victim's system. However, many attacks depend on JavaScript code that does in-browser mining if the user's browser has a tab or window open on the malicious site; no malware needs to be installed as loading the affected page executes the in-browser mining code.



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