Cyber Mafia - A major threat to your business

We all have witnessed cybercrimes growing exponentially in recent years, started initially from social engineering to recent sophisticated APT and Malware attacks. These cyber-attacks were initially performed only for Self-admiration or individual gain perspective but later the trend changed and attacks are targeted and intended for monetary benefits.  Crypto locker Ransomware malware is one of the examples of such threats in the recent past, where all the documents of the target were encrypted and ransom was asked for providing the decryption key. Spear Phishing is another example where the confidential information like credit card details is stolen by appearing as your familiar website but, in fact, leading to the false site to steal user credentials.

We cannot deny the fact that now the potential of Cyber-Attack success and the monetary gains are well understood by the bad elements (In this context, I will quote them as Cyber Mafia) of the society. These elements perform organized crime of stealing confidential information. They even hire expert hackers and provide them the best technology platforms to steal data, luring /threatening key people of target organization to reveal the confidential information about the organization. Cyber Mafia could get big money from the competitors to get the target organization’s information or can threaten target organization to give them the money in lieu of not publishing the compromised information on the internet or even worse, disrupt the organization business through a coordinated DDOS attack. 

Key people in the organization who have access to the organization confidential information could be the weakest link and soft targets for Cyber Mafia where they could be lured or threatened for revealing the information. Organizations are putting a lot of money on their Security Infrastructure to protect themselves from the emerging security threats but the human mind still has vital information which could result in the catastrophic impact on organization's business if compromised.

One of the challenges in estimating indicative damage made by cyber-criminals is reporting the crime in the first instance.  Many victim organizations may not wish to reveal details of their losses in public for fear of reputation loss. However, this has contributed to rising in cybercrimes across the globe and can help Cyber Mafia in a significant way.

There are many countries who have limited capability fighting against organized Cyber Crimes in the lack of well-defined laws /punishments/ Cross Border communication laws to address cyber-crimes appropriately. There is urgent need that all nations must come forward and help each other to kill organized Cyber Crimes.

Authored by Deepak Ghai

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