The number of cybercrimes is expected to continue increasing in 2023 due to the technological advancements that have occurred in the field. It is estimated that around 80% of businesses globally are affected by cybercrime. The main reason why this type of crime is carried out so prevalently through the virtual world is due to the limited capabilities of law enforcers to monitor it. According to cybersecurity experts, over half of all cyberattacks are carried out through ransomware.
Why Cybercrime Is Increasing
Due to the increasing number of attacks, ransomware has become a prevalent threat to businesses worldwide. This type of malware takes over a system and then demands a ransom. It can encrypt files on a computer until a certain amount of money is paid in exchange for the privilege to access the system.
Due to the nature of the internet, it has allowed people to communicate and express themselves in various ways, sometimes even exposing more information about themselves than should be available to the public. However, it has also allowed cybercriminals to violate their users’ rights by allowing them to remain anonymous in order to perform illegal activities online. Because of these criminals’ crafty approaches to cyber crimes, they are taking this crime full-time and making a living for themselves off of this illegal activity.
One of the main reasons why cybercrimes rely on existing data breaches is because it is cheaper to use stolen login credentials in order to access an organization’s systems. They can also sell the stolen information through data breach marketplaces. Social engineering is another technique that cybercriminals use to target individuals. Since many people have the same passwords across various platforms, hackers can easily target them by making use of their social engineering.
The rise of the Internet of Things (IoT) has raised concerns about the security and privacy of individuals. These devices can be used to control various electronic features in a home or wearable devices. Unfortunately, many of the companies that make IoT devices do not have the necessary security protocols in place to protect their products from unauthorized access. This means that they are more vulnerable to hackers, which could cause additional issues for individuals’ online privacy.
Due to the increasing number of social media platforms, it has been predicted that next year, they will continue to collect and use excessive amounts of personal information. Users should take the necessary steps to protect themselves from fraud and other cybercriminal activities.
As one can tell, the main reason cybercrimes continue to increase is that technology is not slowing down any time soon. With each introduction of new digital platforms and devices, hackers will likely find ways to infiltrate these systems to use the information stored in these platforms for their own benefit.