The Growing Threat of Cybercrime, and its Vague Legal Implications

Over the past fifteen years, there has been an increasing trend of cybercrime. From 2001 to 2015, the number of people who have fallen victim to cybercrime has increased from around 9 million to almost 70 million. This figure amounts to nearly half of all internet users.

As businesses become more reliant on new technology, they are increasingly becoming victims of cyber-attacks. With mobile devices being used for personal and business use, this threat is even greater than ever before. The methods that criminals use to commit these crimes are constantly changing, and it can be difficult for law enforcement agencies to keep up with them.

Cybercrime Today

This year alone, there were over 4 billion records compromised by hackers, which amounted to about 164 records compromised every second. While there are many different types of cybercrime, the most common is the installation of malware.

This can be easily prevented by installing adequate protection on mobile devices and computers. However, if criminals do manage to escape with user data, this could result in identity theft which has long-term repercussions for victims.

A new type of ransomware that was discovered called Power Worm recently started spreading through business servers, causing major disruptions for companies until they paid a ransom fee. Cybercrime is now more than ever before recognized as one of the most significant threats to security worldwide, both on an individual and national level.

Famous Cybercrime Criminal Cases

One of the most notable cybercrime cases was the Ashley Madison hack, in which over 30 million users had their information hacked and leaked online. This hack included credit card information, home addresses, and phone numbers. As a result, many victims faced embarrassment and even lost their jobs.

Another famous cybercrime criminal case was the Silk Road case in 2013. This website was considered the largest online criminal marketplace. It sold drugs, guns, and other illegal goods. It was run as a secret service by Ross Ulbricht who went by the pseudonym Dread Pirate Roberts.

In 2015, he was convicted of money laundering, computer hacking conspiracy, conspiracy to traffic fraudulent identity documents, and conspiracy to traffic narcotics in the first degree. The case resulted in a life sentence and no chance of parole.

As cybercrime cases become more common, questions have slowly risen surrounding the legal implications. It is important for law enforcement agencies to keep up with changes in technology and how criminals are using it to commit crimes.

Another legal implication of cybercrime is that victims are being more frequently targeted using ransomware. Often, law enforcement agencies cannot provide help for these types of crimes since most companies do not have backups of their data which means they would have no choice but to pay the ransom fee.

This situation leaves victims still vulnerable as criminals will continue to target them using ransomware. To prevent this from continuing, companies need to invest in proper data backup systems to have a contingency plan if their servers are compromised.

The Current Laws Concerning Cybercrime

Because cybercrime is so widespread, it has become increasingly difficult for law enforcement agencies to control. More than 3,000 known types of malware are in use today, with new ones being created every day. Cybercrime can carry some of the harshest penalties in the legal system. If you are convicted, you could face up to 20 years in prison and fines in excess of $250,000.

There is legislation in place to assist law enforcement in their efforts to fight cybercrime. These laws allow police and other agencies to investigate any suspicious activity that they believe might be related to criminal activity or hacking. They can also compel internet service providers and telecommunications carriers to provide assistance such as customer details if necessary.

Cybercrime as a Security Threat

Cybercrime is becoming a growing national security threat, with recent high-profile hacks on US banks, retailers, and even the federal government. While many companies are becoming more proactive in preventing cyber-attacks through technology that scans incoming emails for malware or using other data filtering methods, criminals find new ways to bypass these technologies and target businesses like never before.

Common Cybercrime Approaches

One of the most popular types of cybercrime is the installation of malware. Viruses will often be attached to emails or pop-up advertisements claiming they contain media files such as MP3s. There has been an increase in ransomware as well. Ransomware like Power Worm can cause major disruptions to businesses until they pay a ransom fee.

While there are many different ways that you can help protect yourself from cybercrime. the only true way to ensure that you are not victimized is to invest in cyber insurance – this can help you recover lost data and cover any legal expenses that will likely arise if you are ever targeted by cybercriminals.

What Happens if You Are Guilty of Cybercrime?

When a criminal is convicted of cybercrime, they may be fined or imprisoned depending on the offense. Common fines include thousands of dollars for copyright infringement, while more serious crimes can result in penalties up to a million dollars a day (United States Sentencing Commission).

If you are charged with cybercrime, it is important that you retain legal counsel from an attorney who specializes in law related to computer crime. You’ll need to consider everything from the charges related to your crime to properly writing a character reference.

Cyber-attacks have been increasing since 1990 and will likely continue to grow as time goes on. As to the extent of computer-related crime – only time will tell.

Lavanya Rathnam

Lavanya Rathnam is an experienced technology, finance, and compliance writer. She combines her keen understanding of regulatory frameworks and industry best practices with exemplary writing skills to communicate complex concepts of Governance, Risk, and Compliance (GRC) in clear and accessible language. Lavanya specializes in creating informative and engaging content that educates and empowers readers to make informed decisions. She also works with different companies in the Web 3.0, blockchain, fintech, and EV industries to assess their products’ compliance with evolving regulations and standards.

Posted in Articles

Leave a Reply

Your email address will not be published. Required fields are marked *