Cybercrime refers to any crime that involves a computer and a network.
Cybercrime can be defined as “Offences that are committed against individuals or groups of individuals with a criminal motive to intentionally harm the reputation of the victim or cause physical or mental harm to the victim directly or indirectly, using modern telecommunication networks such as the Internet (Chat rooms, emails, notice boards and groups) and mobile phones “.
This includes hate crimes, telemarketing & internet fraud, identity theft & credit card account theft.
A study in Australia found that 2 out of 3 convicted cybercriminals were between 15 – 26 years old. Symantec has released a report indicating that cybercrime has surpassed illegal drug trafficking as a criminal moneymaker, and 1 in 5 individuals will become a victim.
Categories of cybercrime
Types of cybercrime:
Identity theft is a form of stealing someone’s identity in which someone pretends to be someone else by assuming that person’s identity, usually as a method to gain access to resources or obtain credit and other benefits in that person’s name. Identity theft occurs when someone uses another’s personally identifying information, like their name, identifying number, or credit card number, without their permission, to commit fraud or other crimes
The Internet is a useful way to reach a mass audience without spending a lot of time or money. A website, online message, or “spam” e-mails can reach large numbers with minimum effort. It’s easy for fraudsters to make their messages look real and credible and sometimes hard for investors to tell the difference between fact and fiction. That’s why you should think twice before you invest your money in any opportunity you find online.
Internet banking fraud
1. The Internet banking login details (account number, username, and password) of a victim are typically stolen through a phishing attack. Phishing is the attempt to acquire sensitive information such as usernames, passwords, and credit card details (and sometimes, indirectly, money) by masquerading as a trustworthy entity in an electronic communication.
2. Get a banking account/s to which money can be transferred and withdrawn
3. Clone the SIM card used by the person
4. Create beneficiaries (using the list of banking accounts) and transfer money to these beneficiaries
5. Withdraw the money from these accounts.
In each of these steps, the criminals can exploit different weaknesses in the system to achieve their goals.
For more on types of cybercrime: https://www.pandasecurity.com/mediacenter/panda-security/types-of-cybercrime/