Fighting Against Cybercrime: The Importance of the Fight
October 3, 2017 by Bill Rosenthal

By Erdal Ozkaya

Cybercrime has been on the rise the last few years. Annually, an average of 1.5 million cyberattacks are reported. This breaks down to approximately 4,109 attacks every day, which is 171 every hour ("Cybercrime Statistics", 2017). Cyber attackers are constantly devising new techniques and tools each day. The global economy lost an estimated $450 billion to cybercrime in 2016 alone, and that figure was an almost quadruple the estimated $168 billion lost in 2015 ("Cybercrime Statistics", 2017). Experts estimate this economic loss will reach $2 trillion by 2019 ("Cybercrime Statistics", 2017). Even with these shocking figures, countless individuals and organization continuously fail to implement basic security mechanisms on their devices, systems, and networks. In addition, many individuals and business representatives act recklessly when communicating via email and on social media, oftentimes sharing information that could lead cybersecurity attacks. Even back in 2014, 47% of all American adults had at least some piece of private data stolen during a cybersecurity attack ("Cybercrime Statistics", 2017).

Justice against cybercriminals is rarely achieved, as it is very difficult to catch and prosecute today's cybercriminals (Grimes, 2017). Cybercriminals are knowledgeable and their techniques are advanced, so they know how to cover their trails, and many of them have enough money to hire the best lawyers to defend them. Only one in 10,000 hackers gets caught, and only one out of 100 successfully gets prosecuted in court (Grimes, 2017). This means that governments, organizations, and individuals need to fight collaboratively against cybercrime.

As cybercrime is growing at such an unprecedented and enormous rate, successfully fighting cybercrime can ensure future global economic prosperity and privacy for individuals and organizations. If cybercriminals continue hacking big companies, no one will be able to maintain their privacy. The fight against cybercrime is important because it will assure the integrity and availability of systems in the future. People will be able to trust that their financial and health information is secure, and corporations and governments can be sure that their data is secure. Right now, cybercriminals are threatening the availability of bank, healthcare institution, and government systems with denial of service attacks that are being supported by armies of botnets (Mazurczyk, Holt & Szczypiorski, 2016). And that’s only one method of attack. 

Importance of Sharing Experiences

It is important for individuals and organizations that have successfully fought cybercrime to share their experiences. This information sharing will enable other organizations and individuals to adopt the best cybersecurity practices. A lot goes into preparing to fight cybersecurity incidents, and sharing best practices in a collaborative effort can help organizations prevent future hacking attempts. If a hack has been successfully deterred and an organization shares this defensive tactic information quickly, other organizations may successfully prevent the same type of attack. In an environment of collaboration, sharing experiences and knowledge may psychologically demotivate hackers from perpetrating future hacking attempts on the same organizations.

Importance of Preparation

It is crucial that organizations work to develop cyber-threat analysis and incident response teams and processes. Logical Operations’ CyberSec First Responder (CFR) is the perfect certification for an organization to use for validating that their personnel have the skills necessary to perform crucial cybersecurity job functions. We know cybercrimes will happen, even to the most prepared organizations. As leaders of our organizations and our industries, we need to ensure we are prepared to identify when those crimes are occurring and respond appropriately. CFR can help you do just that.

Organizations can find more information on CFR here: www.cfrcertified.com

References

Cybercrime Statistics. (2017). CBS. Retrieved 23 August 2017, from http://www.cbs.com/shows/csi-cyber/news/1003888/these-cybercrime-statistics-will-make-you-think-twice-about-your-password-where-s-the-csi-cyber-team-when-you-need-them-/

Grimes, R. (2017). Why it's so hard to prosecute cyber criminalsCSO Online. Retrieved 23 August 2017, from http://www.csoonline.com/article/3147398/data-protection/why-its-so-hard-to-prosecute-cyber-criminals.html

Mazurczyk, W., Holt, T., & Szczypiorski, K. (2016). Guest Editors’ Introduction: Special Issue on Cyber Crime. IEEE Transactions on Dependable and Secure Computing13(2), 146-147.