Even though the internet has clearly changed the way we live, there are some more negative sides of it that cannot be ignored. Cybercrime has been one of these. It makes sense that any location that houses sensitive data, including personal information, and serves as a conduit for payments would be vulnerable.
Cybercrime: Statistics
And so it has happened. An astounding 343,338,964 persons were impacted by 2,300 attacks that were reported to have occurred worldwide in 2023. About 16% of Canadian organizations were impacted by this, according to the 2023 Canadian Survey of Cybercrime and Cyber Security. Additionally, according to CSCCS data, companies spent an astounding $11 billion on preventative measures and $1.2 billion on recovering from the effects of cybercrime. Although it may seem that cybercriminals only threaten huge corporations, they are increasingly focusing on small and medium-sized firms, which may have less money available for preventative and security measures. More importantly, people frequently fall victim to cybercrime in the end.
Cybercrime: Recent victims
The larger organizations, whose clients and consumers they may be, are the ones that get this unwelcome publicity, even if the repercussions on individuals are typically unreported. For instance, a member of the HR staff at Activision, the company that publishes the Call of Duty video game series, fell victim to an SMS phishing assault in 2022. They published a plethora of employee data, including salary information and numerous private emails, since they thought the conversation was authentic. Regretfully, addressing this error was more difficult than resolving a glitch in their best-selling game.
Cybercrime: The Retailer Indigo
The retailer Indigo experienced a multi-day cyberattack in February 2023 that stopped all of its outlets from accepting debit or credit card payments. For almost four weeks following the original attack, the knock-on effect completely destroyed their internet sales.
Cybercrime: The Unwary Public
Of course, there is a much more sinister type of cybercrime that involves frauds that target the unwary public. For instance, there are a lot of phony websites that look quite authentic but never deliver the items or services that have been paid for.
iGaming is one industry that cybercriminals have previously targeted.
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Fake Online Casinos
In order to intentionally mislead consumers, fake online casinos have been established. Therefore, it would be prudent for anyone wishing to register with a Canadian online casino to limit their options to those listed on reliable review websites. These will have been examined and confirmed to be authentic. Obtaining deposits and rental money for vacation houses that are essentially solely in the offenders’ fantasies is another common scam.
Cybercrime: Scamming both the clients and the business
Then there are frauds that affect businesses and their clients in two ways. When Air Canada experienced a distributed denial of service attack in 2023, it became a well-known victim of this. A DDoS assault occurs when hackers overload a website with requests, causing it to become inoperable. In this instance, it interfered with the airline’s scheduled departures and caused inconvenience to both business and leisure travelers by affecting check-in desks and electronic gates at several airports throughout the nation.
Cybercrime: Suggested remedies
Some cybercriminals are so skilled that it’s nearly hard to spot a phony website or fraudulent attempt. This is why so many individuals are tricked every year. There are steps that an individual can take to prevent being a victim. The first is to be informed on the types of fraud that were being used at the time.
For instance, fraudulent websites that sell absurdly low-quality goods are more common in the days leading up to the holidays. Therefore, if anything seems too good to be true, it most likely is. This is an excellent rule of thumb to follow. Another is to ensure that your devices’ anti-virus and malware software is up to date. Even in large organizations, it is typically an individual’s error that initiates the chain reaction by unintentionally allowing hackers and cybercriminals to enter. The hazards are just too high; therefore never open an attachment in an email from a dubious source.
Cybersecurity Companies
Nowadays, the majority of organizations use a cyber security company, and there are many available in Canada. Hopefully, their expenditure on expert counsel will significantly contribute to the safety of the rest of us. Ultimately, though, we must all assume a certain amount of responsibility. Therefore, it comes down to being vigilant, exercising caution, and, if at all possible, avoiding danger.