Cybercrime: Definition, Examples, and Case Study

CYBERCRIME

Description of Cybercrime term
 Cyber crime can be defined as a kind of criminal activity which computer oriented that
either targets or uses a computer network or a device for commencing a crime.
 Most of the cyber crimes are done by hackers who want to make money by committing
fraud, theft of intellectual property, violating privacy, sealing identity and in many
other ways.
 Some of the most common example of Cybercrime are software piracy, unauthorized
access to data, spreading virus and many more.
 Cybercrime cases today are increasing drastically mostly because people are unaware
of ways in which they can protect themselves and their data which provide these cyber
criminals a benefit and they commit crime.

Description of case study
What cybercrime happened
 Today even craft Breweries industry is not safe of these cyber-attacks. This cybercrime
case happened to Waterloo Brewing Ltd. where due to cybercrime they lost $2.1
million because of a social engineering cyber-attack.
 This cybercrime involved an impersonation of a creditor employee and fraudulent wire
transfer requests. This crime occurred in November, 2019.
 After this crime happened, company notified higher authorities, police, Analysis Centre
of Canada and the United States, financial transactions and report analysis center,
Finance Crimes and Enforcement Network were informed.