Cybercrime: An International Threat!
In analysis / By Mark Flynn / 10 July 2018
This last week has been dominated by news of a big shift in cybercrime, the move away from a single person or small group in one location to cybercriminals forming international coalitions.
These new criminal organisations are either formed of groups of hackers banding together, or organised crime syndicates wanting to profit from this lucrative business.
Unfortunately, we are not seeing this countered with large-scale co-ordinated international cooperation. There are some that are trying, for example, the Global Commission on the Stability of Cyberspace is a partnership between governments and big business that hopes to set standards and rules that governments and business can use to cut down on cybercrime.
It’s also important to look at how nations are dealing with cybersecurity. One of the more interesting countries when it comes to cybercrime is the Republic of Ireland. Unfortunately, it stands out for all the wrong reasons. In PwC’s international survey on cybercrime, they found a worryingly disproportionate amount of cybercrime happening in Ireland. For example, the global average of 33% admitted to having an attack that cost less €40,000 whereas Ireland had 53%.
There was also an upswing on the number of attacks worth €4.05 million and above. Perhaps most worrying was the 18 per cent who just did not know if they had been hacked.
One of the big reasons for this is the apparent lack of understanding about the damage cyber-attacks can cause.
In order to prevent this kind of crime from happening it's crucial to educate all employees about cybercrime. This can make a huge difference as according to IBM 95% of all cybersecurity breaches are because of human error. By ensuring everyone in your company has been trained on how to spot and deal with cyber-attacks, you can greatly lower the risk to your company and to those you work with.
Another thing you could do to lower the risk of falling victim to cybercrime is to ensure you have the right tools in place, for example at Nasstar we using Artificial Intelligence (AI) driven cybersecurity tools to monitor all components of our clients managed systems (servers, switches, routers etc.) enabling us to identify what is normal behaviour and what might be an attack.
By building an understanding of our customer's normal behaviour, the AI can inform the IT department if someone starts acting abnormally which may indicate a hack.