Impact of cybercrime
Cybercrime is defined as an illegal activity done online. As technology grows, so do avenues for its misuse. Hacking, phishing, spamming, cyberstalking, and identity theft are online crimes that are being used to defraud individuals as well as organizations.
A report states that the cost of cybercrime would amount to $6 trillion annually by 2021. A more significant threat is the increase in ransomware. This is a software that takes over a computer, and it is difficult to unlock unless a ransom is paid.
It is believed that cases of ransomware are growing annually by 350 percent. This is a grave concern for companies, and many are presently taking action to fight cybercrime.
The following are some ways companies are counteracting cybercrime:
1) Using AI
Artificial Intelligence is being used by cybercriminals to make their attacks on computers smarter. As a response to this, companies are coming out with what is known as adversarial AI. This involves the use of tactics to fool the AI tools used by cybercriminals, which is a typical case of fighting fire with fire. Offensive AI can help in understanding how systems interact. Moreover, machine learning can be used to detect cybercrime attempts early on and respond to them.
2) Reverse engineering
Reverse engineering is a technique used by companies to fight cybercrime. This involves attempts made by a company to hack its own systems to detect vulnerabilities. It can also detect malware, which can then be removed. As the saying goes, “set a thief to catch a thief.” Using the same tactics that hackers use can help fight them off.
3) Cyber deception
To fight criminals, one tactic that can be used is tricking them. This is known as cyber deception. This involves using decoys to make cybercriminals attack fake assets. This would help a company understand how cybercriminals work and offer insights into how to fix the weaker areas.
These are some ways that companies are proactively using to fight cybercrime.