As the holiday season emerges, shoppers are increasingly turning to the Internet and utilizing digital tools to obtain goods and services and that is where hackers can tap into their information and cause havoc in people’s lives according to cybersecurity experts.
“What was once a comparatively minor threat—people hacking for fun or for bragging rights—has turned into full-blown economic espionage and extremely lucrative cybercrime,” said FBI Director Christopher A. Wray.
Wray’s concerns are verified by a May 18 article—The Impact of Cyber Crime on the Economy– on the website UpGuard. The article reported the World Economic Forum saying cybercrime has grown to such an extent that it can be described as the world’s third-largest economy, after the U.S. and China. Plus, the article said cybercrime will generate $8 trillion in 2023 and it could reach $10 trillion by 2025.
Fighting Cybercrime
Keith Collins is the CEO of BlackOps CSO LLC, a cyber awareness firm based in Sicklerville, New Jersey. Collins said he advises his clients on fighting cybercrime from the perspective of a hacker.
“If you are using a computer or any digital device, you can bet hackers are studying your online habits,” Collins, 52, said. “They are studying who you interact with. When they figure you out, that is when they strike with a fake email that will get into your system.”
Collins advises his clients to get several layers of protection for their devices, change passwords frequently and try to keep as much personal information from cyberspace as possible. He noted hackers no longer sit in front of computer screens but use automated systems to get people’s information.
He said if a cybercrime is committed such as money deducted from a bank account electronically and without approval, a police report should be filed.
“People can’t stop hacking from taking place, but they can make it difficult for the hackers,” he said.
