Why does cybercrime happen today?

Written by:Thomas Wright

In a society where digitalisation is at its peak, use of the internet has become a dominant method through which individuals and businesses are staying connected. The coronavirus (covid-19) pandemic has facilitated progression in the use of the internet due to the work from home culture. It is no surprise that most global populations have got access to at least one smart phone or internet connectable device. Everything seems to be happening online, from online shopping to online banking or downloading mobile Apps for uses in daily life. This all requires individuals to input personal data onto their smart devices to finance goods they are purchasing. However together with a growth in technological advancements, you cannot help but be concerned with the safety of personal information.  It is important to understand the motivation behind cyber crimes before steps can be taken towards reduction. 

Motivation

There are a variety of reasons that motivate cyber criminals and can include:

• Financial gain, which can be accomplished through hacking into bank accounts or investments. This can be executed through stealing passwords linked to financial sites or through phishing techniques, swindling employees to conduct money transfers or even be a victim of a ransomware attack.

• Cyber criminals like challenges, hence when they gain access into major systems, they feel a sense of achievement and that is motivation enough for them. They thrive on recognition whether it is an individual or group initiative.  In addition, there are groups of individuals that use their political motivation to hack into large organisations to place importance upon human rights or exposing large organisations of system vulnerabilities.

• Corporate espionage is one form of cyber attack that is utilised to obtain advantage over organisations that are competing. This can include customer data, research, sales, locations, property etc. It can also include trade secrets being stolen, organisations being blackmailed or being put under surveillance.

• Some organisations possess employees within their care who have access to critical information that they choose to misuse. This is an internal threat that constitutes to great cyber security threats. Some employees unintentionally give rise to cyber security threats due to their negligence or their carelessness. Some state actors are funded by their nation, and they can involve themselves in cyber crime to promote their country’s interests.  This can include stealing intellectual property, information pertaining to personal identity, financial information, and exploitation.