A cyberattack occurs when an individual or outside organization obtains unauthorized access to computer systems, computers, or networks with the intent to cause harm or damage. The main objective of cybercrimes is to immobilize, interrupt, or control computer systems to modify, delete, manipulate, or steal confidential data.
These attacks are executed by cybercriminals — often referred to as threat actors. Threat actors can include individuals working independently or a group of criminals working together to discover and exploit vulnerabilities in computer systems or networks.
What are the most common types of cybercrimes?
Cybercrimes are often classified into two categories: computer as a target and computer as a tool. “Computer as a target” crime is typically carried out by a group of individuals, as it requires intricate technical skills. Essentially, these crimes use computer viruses, malware, and service attack denials to acquire confidential information or damage operating programs.
On the other hand, “computer as a tool” cybercrimes don't require as much technical knowledge, which means they can be carried out by individuals and cybercriminal groups alike. This type of crime often exploits human vulnerabilities and includes offenses such as identity theft, scams, and harassment.
According to the FBI’s 2020 Internet Crime Report, the most common types of cybercrimes include phishing, vishing, and smishing attacks. The same report also highlights that non-payment/non-delivery, extortion, personal data breaches, identity theft, spoofing, misrepresentation, and confidence/romance fraud were also common sources of cybercrimes in recent years.
What is the #1 most attacked industry?
Although all industries are vulnerable to cyberattacks, the financial technology industry is most susceptible to online threat actors. In fact, a study by ImmuniWeb revealed that around 98% of the global 100 fintech startups are at risk for encountering a cyberattack.
Fintech has seen some significant transformations in the past few years, such as the use of AI and blockchain technology. The industry has grown fast, but data protection regulations failed to follow suit, thereby making businesses in this sector a prime target for cyberattacks. Malware, data breaches, and cloud environment vulnerabilities are the most common cyberattacks in the fintech sector.
Top worldwide cybercrime statistics to note
Cybercrime is more common than ever. COVID-19 also spiked the rate of phishing attacks by 600%, making it easier for threat actors to pose as renowned institutions, such as the World Health Organization (WHO), and gain unauthorized access to confidential data.
Here's a look into the latest cybercrime statistics.
.png)
