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14 pages/≈7700 words
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Literature & Language
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English (U.S.)
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Topic:

Computer Crime - The Fastest Growing Type Of Criminal Activity (Essay Sample)

Instructions:

COMPUTER CRIME ANALYSIS

source..
Content:
Computer Crimes and Security Name: Institution: Computer crime has been commonly known by several names such as e-crime, cybercrime, hi-tech crime or electronic crime. Cybercrimes are criminal activities involving information technology infrastructure, illegal interception, unauthorized access system or computer interference, any data interference, forgery, embezzlement, blackmail, abuse of devices and some electronic fraud. Whenever any confidential data or information is lost or hijacked either lawfully or otherwise, there emerge privacy issues. In some cases, hackers may be malicious and destroy or corrupt the data or the computer files. Cybercrime in the world today has been the fastest growing type of criminal activity as result of internet growth and digital forms of media. Some of these include hacking, auction fraud, identity theft as well as spreading of malicious software and viruses. Criminals are now mostly concentrating on corporates soft underbelly, that is, the stored data. The risk of having sensitive information exposed or lost now is greater than ever. Cybercrimes have of late become an issue with the increase and easy access to the internet. Most of the computer activity has been shown to occur in the workplace. The Federal Bureau of Investigation survey has revealed that most of the organizations have reported some security breaches in their computer networks. Among these serious cases, there was theft of confidential information that cost the companies millions of dollars. Almost every company have had their computers affected by viruses with potential loss or loss of valuable data. Some other forms of unwanted computer activity include computer privileges abuse by the employees by downloading some pirated software or pornography. Cybercriminals use different techniques to attack various organizations. Through the DDoS technique, the hackers attack the legitimate users’ resources and make it unavailable to them. These hackers create malware and botnets in the networks. Over 300 businesses according to a survey by Neustar were targeted by DDoS attacks. Phishing is a technique that involves acquiring important information such as account number, pin code, credit card details, unique ID password by deceiving as a trustworthy entity. The total number of phishing attack has been shown to rise by the RSA Anti-Fraud Command Centre. Social engineering is a technique used in getting vital information of identity and authentication through social interaction with the intended individual. Socio-psychological tricks are used by an outside hacker on an organization’s important employee to gain access to their system. The required information in this technique is obtained directly through manipulation of an employee and not breaking into the system. Another technique is by use of malware. This installed malware has dramatical abilities whereby in the background it can make communications to its originator without the system administrator having any knowledge of what is happening. This method serves as the most powerful one to cause harm to the organizations. Other techniques include inside attacks where the employees in an organization share sensitive information to the outsiders. They disseminate confidential information to the attackers. Social sites are used by some other competitive companies to reduce the reputation of others. Business productivity in economic terms is the ratio between the production factors value and the produced products value. In simple terms, it is a measure of how entrepreneurship, land, labor and capital change into goods and services. The productivity of a business is one of the measures of the growth and the profitability of the business. Computer crimes affect the productivity of business in numerous ways. For example, cybercrimes affect business aspects that promote productivity and therefore leads to change which mostly is negative. Cybercrimes affect the business productivity negatively as it causes financial damage, legal proceedings, brand and company name damage, output reduction as well as loss of intellectual property. Computer crime occurs both for non-monetary and monetary reasons. The key reasons however by far is the monetary one. Financial damage in the light of this accounts for the biggest damage that results from the computer criminals on business organizations in the world. From the recent study that has been conducted by some institution that seriously takes computer crime attack, the average cost per data accessed or stolen by the computer criminals for the last ten years has been increasing at an alarming rate. On average, the cost of the breached data over these years globally have been over six billion dollars. Financial damage concerning business productivity brings an impact at the company’s foundation. As far as the share prices and share capital are concerned, it affects the company’s equity structure. Many firms particularly where the computer crimes have been mostly reported has been shown to record very high after-tax charges to compensate what was lost due to computer crimes without their knowledge. A retail company by the name Marshalls and TJ Maxx in the United States after-tax cash charge recorded was about 118 million dollars which resulted from the year 2017 when the company was cyber attacked. The financial damage effect towards the productivity of the business thus comes in two ways. One is through the direct impact emanating from the money that is lost. Most of the money that is stolen is supposed to facilitate the business operations to maximize the profits. The absence of this money means that the business operations are affected as these operations are not possible. Productivity suffers a negative effect as growth derails. Another thing is that business organization suffering the financial damage must find a solution to safeguard as well as control themselves against cyber-attacks in future. These control measures mean that some money that was set for growth and development of the business now carries out non-income generating activities and also means that the productivity of the business is derailed. A company stands at a point to face certain legal consequences once it experiences a computer crime exposure. This is because computer crime is all about data breach which currently has seen several law lawsuits that have emanated from agitated customers and clients who have been heavily affected by the breach of data. Companies and associations should understand certain rules and regulations and adhere to them strictly in case they lose their employees, esteemed customers as well as other crucial company stakeholders personal data. These legal regulations are monitored by the respective legal bodies. These rules include accost expenses that are incurred by a business entity. Mostly, these cost services installations such as monitoring systems for the customers online account as well as victimized customers financial compensation. Some firms in addition to these universal rules include the by-laws that ask for the executives responsible for the breached data to resign. There occurs a loss of suitable experience in business operations when these experienced executives are lost. Some expenses are also incurred when these executives are lost. Productivity is affected by these legal requirements in that instead of using the money to expand important factors of production; it carries out activities that are non-productive. McAfee which is a security firm has estimated that cyber espionage and cyber crime are costing the economy of the United States around $100 billion in every year, and the global impact is almost 300 billion dollars per year. McAfee reveals some of the computer network intrusions of seventy-two private and public-sector organizations. The study has revealed that in the United States, the defense contractors and the government departments are the majority victimsCITATION McA13 \l 1033 (McAfee, 2013). Mostly, the computer network intrusions have been believed to result in the loss of the trade secrets and important intellectual property. The quality and quantity of data stolen by the hackers is significant and shows the adaptability, persistence, and patience of the attackers. Espionage has had a long history and is almost practised everywhere. However, for many countries, China serves as a target of interest CITATION Dav111 \l 1033 (Clemente, 2011). Another major side impact of computer crimes activity is a loss of about five hundred and eight jobs in the United States alone. This loss is primarily caused by intellectual property theft which is seen to wipe up the United States companies technological gap against the competitors from Asia. Day by day, the computer criminals are trying to improve their non-traceable ways and trying to make their malicious structures more resistant taking down operations by law enforcementCITATION Sal03 \l 1033 (Salomon, 2003). They are refining their infrastructures for instance by hiding command, adopting peer to peer protocols as well as controlling infrastructures in anonymizing environments like Tor Network. Cybercrime according to the Department of Justice and FBI is on the rise among businesses in America and has been shown to cost them dearly. Every business operating online in one way or another have to deal with computer crime. In 2005, the National Computer Security survey indicated that about 67 percent of businesses that were surveyed had revealed at least one cybercrime form. Fighting computer crimes is expensive, and as new methods and threats emerge, these techniques f fighting cyber crimes must always evolve. There are various ways to which cyber crimes affect companies and their customers. One is that there is the cost of protection where every company that wants to protect itself from online hackers have to use a lot of money to make it possib...
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