What is Cybercrime

Cybercrime – Affecting Organizations Worldwide

With more and more organizations offering their services via online channels, cybercrime has picked up significantly. Banking, e-commerce, retail, health, defense, government, transportation and other websites have given hackers (and commercial attackers) a large choice of potential targets to exploit. According to American research and analysis firm Juniper Research, cybercrime will cost businesses around $2.1 trillion by the year 2019.

High-profile hacks and POCs of security breaches are piling up. One of the most “sensational” hacks of 2015 involved the dating website Ashley Madison, where hackers harvested sensitive data of over 37 million users. Also, researcher Wesley Weinberg exposed a Remote Code Execution bug in the Instagram application in late 2015. Even FBI’s portal was not spared, with hackers gaining access to CIA director John Brennan’s email account.

But it’s not all bad news. The forecasted numbers can be brought down significantly if web and mobile applications are developed securely to have better code integrity.

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