Cyber Attacks Today
Introduction
In our age of advanced technology and computing, many things can now be done online. This includes crime. While computer systems have brought about workplace efficiency and lifestyle convenience, they have also allowed criminals to commit crime more easily. One interesting find from Norton's Cybercrime Report is that three times more adults were victims of cybercrime than real-life crime.
There are a few main types of cybercrime, namely:
In our age of advanced technology and computing, many things can now be done online. This includes crime. While computer systems have brought about workplace efficiency and lifestyle convenience, they have also allowed criminals to commit crime more easily. One interesting find from Norton's Cybercrime Report is that three times more adults were victims of cybercrime than real-life crime.
There are a few main types of cybercrime, namely:
- Financial fraud: when money is stolen or stolen credit card details are used.
- Hacking/Trespassing: when computers are illegally accessed and then controlled by cyber-criminals.
- Hardware Hijacks: when devices connected to the computer are controlled and used by criminals.
- Cyberbulllying: when victims are harrassed or "flamed" online. Also, online impersonation and stalking.
- Spamming: when email servers are flooded with unwanted mail. Spam might lead to phishing and spoofing.
- Cyber Terrorism: when websites and networks are jammed by DDoS attacks; information is also usually stolen or destroyed.
As the pie-chart suggests, commercial organisations are the main targets of cyber-attacks. Most cyber-attacks on them have a purpose for commercial espionage or financial fraud.
Therefore, our focus would be cyber-attacks on commercial firms.
The Trend Now: The increase in 2012
According to a 2012 report done by HP, here are some statistics:
For 2012, retail and financial companies seem most likely targets of cyber-attacks. Cyber criminals might have chosen such firms because of the expected large cash flows and revenue they have. For most cyber criminals, it boils down to money.
In this year alone, companies such as Amazon and Visa as well as banks such as Citigroup and JPMorgan Chase have fallen victim to cyber-attacks.
- Average cybercrime loss per firm: $8.9 million (6% increase from 2011)
- Firms have been hit with 102 cyber-attacks every week (42% increase from 2011)
- Average days to resolve a cyber-attack: 24 (18 in 2011)
- Amount spent to resolve each attack: $591,780 ($415,748 in 2011)
For 2012, retail and financial companies seem most likely targets of cyber-attacks. Cyber criminals might have chosen such firms because of the expected large cash flows and revenue they have. For most cyber criminals, it boils down to money.
In this year alone, companies such as Amazon and Visa as well as banks such as Citigroup and JPMorgan Chase have fallen victim to cyber-attacks.
Situation in Singapore
Major findings from Norton's 2012 Cybercrime Report:
The report also predicts that these high figures were due to most Singaporeans having a poor understanding of the risks of cybercrime. They do not recognise the ease of being attacked.
As a result, most do not install anti-virus or firewall programs to protect their computer systems.
- 48% of Singaporeans were cybercrime victims (66% in 2011)
- Average loss to cybercrime per Singaporean: US$657 (global average is US$197)
The report also predicts that these high figures were due to most Singaporeans having a poor understanding of the risks of cybercrime. They do not recognise the ease of being attacked.
As a result, most do not install anti-virus or firewall programs to protect their computer systems.