As the internet grows vastly the more dangerous it becomes to its users. With the new advances in technology cyberspace fraud has been increasing. These new advances have made the internet vulnerable to various kinds of e-commerce fraud. New techniques to detect and prevent cyber fraud have been developed to discover and prevent criminals before the fact, rather than after the damage have been done. Individuals and businesses should recognize each new cyber attack and make themselves aware of the consequences each attack can create. This paper will discuss the new cyber attacks that are increasing and how individuals and businesses are affected.
Internet Grows More Dangerous
Cyberspace fraud has been increasing vastly with new technological advances in cyber security. With these new advances the internet has become vulnerable to various kinds of e-commerce fraud. New ways to detect and prevent cyber fraud have been developed to discover and prevent criminals before the fact, rather than after the damage has been done. In Trends E-Magazine the article the Internet Grows More Dangerous talks about cyberspace fraud and how it is becoming more evident as business efficiency and productivity increase. It states “the more dependent we become on cyberspace the more vulnerable we become to all these threats” (25).
Next, a few examples of cyberspace threats were discussed. To list a few: “A Microsoft Windows computer worm labeled Stuxnet targets industrial software” (24). “Malware has been detected in several cloud computing services and are now showing up on mobile devices as well”(24) and “phishing attacks were up 12 percent in the first quarter of 2011, according to an eCrimes Trends Report”(24). The increases in these attacks are motivated from the desire of notoriety and monetary and political gains. The attackers who are motivated by notoriety “have no concern whatsoever for the inconvenience and economic damage their activities cause” (25).
The article then goes on to discuss how dependent society is on cyberspace and how they have become more susceptible to cyberspace threats. It also talks about how dependent society is of the internet, “online banking travel, entertainment, and stock brokerage services” (25). With this increased activity makes the internet an enticing target with more opportunities and weaknesses for cyber crime. Criminals are learning new methods to perform cyber crimes more efficiently and effectively. However, these crimes are not just affecting individuals, businesses also fallen victim to these crimes every day.
Some of the largest and most profitable cyber crimes of 2010 were reported by the Internet Crime Complaint Center were:, auction frauds, counterfeit cashier’s checks, credit card fraud, debt elimination schemes, parcel courier e-mail schemes, employment and business opportunity frauds, escrow services frauds, identity theft, internet extortion, investment frauds, lotteries, hoaxes like the...