What Is Cyber Crime? Types, Examples, And Prevention

The Internet is a vast, never-ending library. Everything you need is readily available in just a click. But beware! There are unseen dangers everywhere in the vast and rapidly growing world of the internet, and cyber crime is one such popular threat.

To give you more context, let us introduce you to Suraj. He enjoyed using technology, just like any other person would. He liked to browse the web, talk to friends online, and do online shopping. However, his regular day took an unexpected turn all of a sudden. He saw a message that he had won a great prize after going through his emails. Excited, he clicked the link, only to find his bank account empty minutes later.

This is not just Suraj's case. Many people experience similar circumstances when dangerous malware infiltrates a computer or steals personal information. These situations are part of an increasingly serious issue called cyber crime.

But what exactly is it? How could something as basic as a webpage or email be the source of so much trouble?

Read the article below to explore the various forms of cyber crime, view real-world examples, and learn practical precautions to prevent becoming a victim.

What Is Cyber Crime?

Cyber crime is any illegal activity that is done by using networks and computers. However, here's the twist - the computer might either be the target of the crime or the device used to commit it.

Confused? Let's make it clear.

Cyber crime poses a threat to both individual safety and the financial stability of the nation. A varied range of offences will be covered under these, including online fraud, cyberbullying, hacking, and identity theft. Cybercriminals exploit technological vulnerabilities in computer systems, networks, and gadgets.

But why go to such a length? What are their objectives?

The answer is simple- To commit numerous additional malevolent acts, interfere with processes, or steal critical data.
 

How Do Cyber Crimes Happen?

Cyber crimes typically occur when individuals or organisations exploit flaws in software, networks, or computer systems.

Now, you may be wondering where these weaknesses originate.

The vulnerability is the result of poor security protocols, software bugs, or even human error. Every one of these elements has the potential to let malicious activity in.

These crimes can take many different forms, each with its own unique approach -

Cyber Crime Types And Examples

Read below to know what is cyber crime and its types. Each type comes with different tactics, and we have added an example of cyber crime for each -

• Identity Theft: In order to perpetrate fraud, this crime requires stealing personal information.
  
  For instance,
  Rajesh was a software engineer working in an MNC. During a data breach, Rajesh's credit card details were taken. Without Rajesh's awareness, the burglar exploited his details to purchase pricey electronics online.
   
• Financial Fraud: In this case, thieves tamper with financial data or systems to obtain unauthorised financial gains. There are a number of ways that this might happen, including bank account hacking.
  
  For instance,
  Ananya was an IT employee. She was left upset and exposed financially after hackers gained access to her online bank account. They transferred an enormous sum of money to an offshore account.
   
• Cyberstalking: This kind of crime includes harassing or stalking somebody online.
  
  For instance,
  Ravi was a food reviewer. An unknown source who had been monitoring Ravi's social media behaviour started sending him threatening emails and harmful messages. This caused him a great deal of distress.
   
• Data breaches: This crime is marked by unauthorised access to private information.
  
  For instance,
  Priya was a fashion stylist. When hackers broke into the database of Priya's preferred online retailer, her personal and financial information was revealed, resulting in identity theft and monetary losses.
   
• Intellectual Property Theft: It is the illegal use or theft of another person's creations, such as trademarks, patents, or works protected by copyright. It frequently happens as a result of piracy or unauthorised dissemination.
  
  For instance,
  Ankit was a researcher. Without his consent, Ankit's new software was copied and circulated, harming his chances of making money and undercutting his diligent effort.
   
• Cyber Espionage: This crime involves spying on people, businesses, or governments in order to obtain private information.
  
  For instance,
  Meera was a central government employee. While working for the government, Meera learnt that hackers had compromised her organisation's computers. They did it to access confidential data, endangering national security.
   

Most Common Cyber Crimes

The following are some of the most common cyber crimes -

• Phishing:
  It is the practice of tricking people into divulging personal information by means of phoney emails or websites.
   
• Identity Theft:
  In this case, hackers steal personal data from a victim in order to impersonate them and profit financially. Imagine if someone opened a credit card or made purchases online under your name!
   
• Online Fraud:
  This type of fraud involves deceiving people into parting with their money through the use of fake websites or investment scams.
   
• Malware Attacks:
  These involve installing harmful software on computers in order to take control of systems, steal data, or use ransomware to encrypt data.
   
• Data breaches:
  When private or financial information is exposed due to unauthorised access to sensitive data kept on computer systems, there can be serious ramifications.
   

The Impact Of Cyber Crime

Here’s how these crimes can have an impact -

1. Financial Devastation
   Financial loss is one of the most obvious and direct effects of cyber crime. Fraud, identity theft, and ransomware attacks have the potential to wipe out victims' finances, interfere with company operations, and result in high recovery expenses.
    
2. Tarnished Reputations
   Reputation is crucial in the digital age. Companies' and individuals' credibility can suffer greatly when they become victims of data breaches. Once lost, trust is difficult to recover.
   
   For example,
   Suraj received an anonymous message from a reputed company. This was what lured him into opening the link. But, because the company’s software was breached, many customers lost their money by clicking on the link. This was a huge hit for the company, and it was never able to regain the trust of its customers.
    
3. Loss Of Privacy
   Cyberattacks often result in the theft of personal data. This can lead to identity theft and serious privacy violations, leaving victims feeling exposed and helpless.
    
4. Service Interruptions
   Cyberattacks can still target vital services and critical infrastructure. These kinds of interruptions have the potential to unleash general mayhem, impacting everything from transportation to healthcare.
    
5. Economic Burden
   Cyber crime has a devastating economic impact. The enormous financial burden that cyber attacks place on the world economy can be seen in the billions that governments and businesses spend annually thwarting and recovering from these crimes.
    

Why Are Cyber Crimes Increasing?

Listed below are some of the reasons why this illegal activity is on the rise -

• Increasing Use Of The Internet
  As the internet becomes more widely available, a growing number of people are connecting to it. This increase in online activity broadens the group of possible victims and increases the opportunity for hackers to launch an attack.
   
• Modern Technology
  Due to rapid technological improvements, cyber criminals today have access to a variety of advanced techniques and tools. These advances allow them to carry out more sophisticated and potent attacks.
   
• Great Potential For Profit
  The world of cyber crime has become a very lucrative industry. Because organised crime groups have realised how profitable cyber activity can be, they now turn to it as a reliable source of large sums of money.
   
• Inadequate Awareness Of Cybersecurity
  Many people and organisations are exposed to possible attacks because they lack comprehensive knowledge about the different types of crimes that are out there.
   

Cyber Crime Prevention

Protecting oneself from cyber crime requires using many powerful techniques -

• Create Strong Passwords:
  For every online account you have, come up with a complex and one-of-a-kind password. This increases the difficulty for hackers in figuring out or steal your login information.
   
• Turn On Two-Factor Authentication:
  It's critical to fortify your account security with an additional layer. Even if someone knows your password, they will not get access to your account without the second authentication step.
   
• Be Vigilant Against Phishing Attempts:
  Steer clear of unexpected emails and dubious links at all times. Cyber criminals frequently employ phishing as a strategy to obtain personal information.
   
• Keep Software Updated:
  Install software updates on a regular basis as they come with patches for security flaws that hackers use.
   
• Use Reputable Antivirus Software:
  To protect your gadgets, use credible antivirus programs. These programs can identify and eliminate different kinds of malware and other dangers.
  
  For instance,
  Ever since his system was duped by a fake link, Suraj was very conscious about his system and online activity. He asked his friends about the best antivirus program and got it installed. This helped him avoid a lot of unwanted cyberattacks.
   
• Frequent Data Backups:
  Develop the practice of regularly backing up your important files to avoid data loss in case of a system crash or cyberattack.
   
• Keep An Eye Out For Unusual Activity:
  Watch your systems regularly for any indications of questionable behaviour.
   
• Learn About Cyber Threats:
  It's important to keep up with the most recent information regarding cyber threats and defence strategies. The more you know, the better equipped you will be able to protect yourself.
   

How Can You File A Cyber Crime Complaint Online In India?

To report a crime in India, just follow a few simple steps -

1. Use the National Cyber Crime Reporting Portal:
   Go to https://cyber crime.gov.in/ to access the official portal.
    
2. Register Your Complaint:
   Depending on the nature of your complaint, choose between reporting "Report Other Cyber Crimes" and "Report Women/Child Related Cyber Crime."
    
3. Provide Detailed Information:
   After that, try to provide as detailed information as possible and include any supporting documentation you have for your complaint.
    
4. Submit Your Complaint:
   Once you have reviewed all the information, file your complaint. After submitting it, you will receive a reference number and an acknowledgement.
    
5. Track Your Complaint:
   To find out the status of your complaint, use the reference number that was given to you. This tool guarantees transparency throughout the investigative process.

We have a very important suggestion for you to keep yourself shielded from such cyber attacks. Read on!
 

Cyber Insurance

Cyber insurance is an essential tool for controlling the financial consequences of cyber-related security breaches and related incidents. It is sometimes referred to as cyber risk insurance or cyber security insurance. When you buy insurance, it safeguards against financial losses brought on by cyber attacks for both people and companies. It is intended to reduce risk exposure by paying for the expenses of fixes and recoveries following a cyber incident.

How does it work, though?

Cyber insurance, like traditional insurance policies, operates on the theory of risk transfer. The cost of a cyberattack is essentially transferred to your insurance company when you buy a cyber insurance policy.

The insurance company will pay for related expenses up to the policy limits in the event of a covered cyber incident. This can include recovery attempts, legal fees, data breach-related expenses, and notification costs.

Learn more about cyber insurance here!

Summing Up,

Cyber Crime is more like a dark magic that threatens our digital world of today. This is why we need to be all the more cautious about online risks. We can keep our online connection safe by being aware of the many forms of crime and by implementing basic preventative measures. Never forget that, like the heroes in our favourite stories, we will be able to protect against cyber crime's malicious tricks and build a more secure and wondrous digital future.

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