What is Cybercrime ?

“Did you know that, CYBERCRIME costs are skyrocketing in the present time very rapidly— is your Business prepared for it. 

We can not deny the fact that the costs and rates of data breaches are increasing day by day. Since 2001, the no. of victims has been increased from 6 individuals per hour to 97 individuals per hour in 2025, it’s a drastic increase of 1517% over the last 20 years. 

And, worldwide the average cost of data breaches hourly has also increased. In 2001, the average cost per hour of individuals was $2054. 

Since then, the average hourly loss rate from data breaches is around $787,671 in 2025. 

This increasing threat to the Businesses & Institutions worldwide means they were taking cyber security seriously. Nearly 73% of the SMBs agree that cyber security matters now need actions, with 78% committing they will increase investments in cyber security in the next 1-2 years. 

A worrying fact is that 67% of SMBs believe they lack the internal expertise to handle data breaches. However, this challenge is being addressed as more SMBs are partnering with Managed Service Providers for cyber security—rising from 74% in 2020 to 89% in 2022.

Our company collaborates with industries where compliance and regulations are critical, offering IT support to law firms, financial services, and other businesses. Now, more than ever, prioritizing cyber security is essential.

~ What is cybercrime ? 

Meaning :-

• Cybercrime or computer crime is a criminal activity that involves unlawful access to the computer system, Or Cybercrime can be defined as “The illegal usage of any communication device to commit or facilitate in committing any illegal act”.

Definition :- 

• The term cybercrime is not defined in any statute or rulebook. The term “cyber” is slang for anything related to computers, information technology, internet and virtual reality. Therefore, it stands to reason that “cybercrimes” are offences relating to computers, information technology and virtual reality.
• Simply means, Crime committed using a computer and the internet to steal data or information is known as cybercrime. 

Examples of cybercrimes  :- 

1. Stealing credit card information.
2. Breaking into government websites. 
3. Spreading hate and inciting terrorism . 
4. Misusing personal information of anybody for our own benefit or for making them feel shamed in the society. 
5. Using fake websites or investment scams to trick people into giving away money 

~ Types of cybercrime :- 

1. Phishing :- 

• Phishing is a very famous and most common attack occurring by the cybercriminals, it involves sending fraudulent emails, messages, or websites that mimic legitimate ones to trick individuals into revealing sensitive information such as passwords, credit card numbers, or personal details of the victim.  

2. Identity theft :- 

• Identity theft is also known as “identity fraud”, it’s a crime in which an imposter obtains personal and financial information of another person to use their identity to commit fraud, may use your information to apply for credit, file for taxes and get returns. 

The information may includes :

• Social security numbers 
• Bank account numbers 
• Credit card informations

3. Hacking :- 

• Hacking is the process of identifying weaknesses in a computer system or network to exploit the security and gain access to personal data.  According to the recent reports, in India citizens were losing over ₹1750 crore due to cyber criminals in the first 4 months of 2024 alone. 

4. Malware :-

• Malware, also known as malicious software, is any code intended to disrupt a computer’s normal operations or facilitate a cyber crime. The most common forms of malware include viruses, worms, trojans, and hybrid programs, along with adware, spyware, and ransomware. 

5. Ransomware :-

• Ransomware is a form of “Malware” that encrypts a victim’s files. The attacker then demands a ransom from the victim to restore access to the data upon payment. Users are shown instructions for how to pay a fee to get the decryption key. The costs can range from a few hundred dollars to thousands, payable to cybercriminals in Bitcoin. 

~ History of cybercrime :- 

• From the abacus to today’s high-speed computers, human civilization has advanced significantly.
• This changeover has significantly altered people’s lifestyles, with the exception of a few isolated individuals.
• Everyone’s life. Although the transition was gradual, it highlighted the progression of cybercrime. As technology advances, cyber criminals adapt their techniques to continue committing cyber crimes. Cybercrime is preferred by technically adept criminals because of its low physical exertion and potential for high cash rewards with less danger of detection, thanks to anonymity.
• The first cybercrime or cyberattack in history happened in the year 1834, in this cyberattack the hackers stole some financial information from the french telegraph system. Thereafter, the cybercriminals were using technological advancements to utilize the loopholes for their own personal and financial gains, and this series has continued till date. 
•  The entire cost of cybercrime is predicted to reach $10.5 trillion per year by 2025. This represents a considerable increase from $3 trillion in 2015. 
• According to the most recent cyber crime statistics, hackers choose to target specific countries over others; in 2021, 71% of countries had breach density below the world average (16.5 leaked emails per 100 internet users).
• The UK has the largest number of cybercrime victims per million internet users, at 4783. This is followed by the United States with 1494.
• Russia now has around 3.5 million compromised users, the highest in the world by 2022. This is followed by the USA, with around 2.5 million breached users.
• In India, According to data gathered by the Indian Cyber Crime Coordination Centre (I4C), a branch of the Ministry of Home Affairs (MHA), cyber fraud cost India almost Rs 11,333 crore in the first nine months of 2024.

~ Factors causing cybercrime to occur easily :- 

1. Security system vulnerabilities  :-

• Cybercrimes are frequently the result of security system weaknesses or flaws. Not everyone values security, and some even fail to update security systems on a regular basis. If software or operating systems are not updated on a regular basis, fraudsters can exploit certain security flaws. As a result, it is increasingly harder to avoid cybercrime.

2. Technological advancements :- 

• Technological innovations are continually evolving and providing major benefits. Unfortunately, despite the numerous benefits that technology offers, these improvements can also give opportunities for hackers. Advances in artificial intelligence and other technology can be leveraged to create more sophisticated and difficult-to-detect attacks. 

3. Internet anonymity :- 

• The anonymity afforded by the internet can encourage cybercriminals to act without fear of legal consequences. The ability to conceal their identities makes it harder to locate them. Even capturing cybercriminals is nearly impossible, and if it is, it will definitely take a long time.

4. Lack of strict punishments :- 

• The simplicity and prevalence of cybercrime are unquestionably linked to the shortcomings of current regulations. In Indonesia, there are separate articles addressing these crimes. However, in practice, managing such circumstances is still deemed inadequate. This finally permits cybercriminals to carry out their attacks without fear of prosecution or penalty.

5. Financial motivation :- 

• Financial incentives might also contribute to cybercrime. This is because many cyber attacks are carried out for financial benefit. Cybercriminals go so far as to steal personal information, breach bank accounts, and spread ransomware.These cybercriminals are unconcerned about the losses suffered by their victims as long as they make financial profits. This is why cybercrime can cause considerable losses for victims.

~ Conclusion :- 

Cybercrime is a major global problem, with financial losses soaring and cybercriminals constantly changing their strategies. Businesses, institutions, and individuals must prioritize cybersecurity to secure sensitive data and avoid financial and reputational harm. The rise of phishing, hacking, ransomware, and other cyber threats emphasizes the critical need for enhanced security measures, increased awareness, and investment in cybersecurity solutions. Given the ongoing expansion of cyber dangers, proactive initiatives, tight legislation, and technology improvements will be required to maintain a safer digital world by reducing risks.