Cyber Security Fraud, Scams, and Identity Theft

This document discusses cyber security fraud, scams, and identity theft. It covers the types of cyber crimes, negative impact on users, types of cyber security, and positive impact on users.

Information
Management

Table of Contents

INTRODUCTION...........................................................................................................................1
Cyber security fraud, scams and Identity theft................................................................................1
Types of Cyber crimes............................................................................................................1
Negative impact of cybercrime on the user............................................................................2
Types of cyber security..........................................................................................................3
Positive impact of cyber security on the user.........................................................................5
CONCLUSION................................................................................................................................5
REFERENCES................................................................................................................................6

INTRODUCTION
Information Technology can be defined as the using of Technical devices such as hardware
and software for the personal or for the professional use in order to utilise the advanced
technology for better operations and Management in an organization. It is important to study
about the cyber security fraud and scams so that technical equipment can be protected against
such cybercrime. This is because it has the negative impact on the company's and personally as
well therefore it is essential to save guard the computer by implementing the cybersecurity
(Thomas, 2018). Hence the following discussion is based on the types of Cybercrimes and
negative impact of cybercrime on the user along with the types of cyber security and positive
impact of cyber security on the use of with proper findings and conclusion.
Cyber security fraud, scams and Identity theft
Types of Cyber crimes
Email and internet fraud is one of the type of cybercrime which means that the people who
are involved in the misconduct and illegal use of Technology directly make use of the emails and
internet to misuse the knowledge of Technology over the people. Identity fraud Is an another
type of cybercrime which means that people who are involved in the technical misconduct
attacks the personal identity of the user in order to misuse their information for their illegal
purposes. Theft of financial or card payment data is also one of the type of cybercrime which
means that people who are involved in the cybercrime attack the financial information of the user
such as the car details and payment details in order to steal the money from them (Lallie,
Shepherd, Nurse and Bellekens, 2021). Theft and sale of Corporate data is also an another type
of cybercrime which means that people who are involved in the technical cybercrime attacks the
confidential and private and important data of the organisation in order to blackmail them for the
money or to spoil their reputation in the market. Malware attack is one of the type of cybercrime
which means that people who are involved in cybercrime uses a process to install some of the
software in the user’s system accidentally and those systems are the software which destroys the
normal functioning of the user's system and retrieves the content which the hackers want.
Phishing is an another type of cybercrime which means that people who are involved in the
misconduct usually use this method and this is mainly e use with the help of email by sending the
producer users and the click on them and becomes a victim of cybercrime. Viruses is also the one
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of the type of cybercrime which the hackers use to destroyed the user’s system in order to
improve their operations and management either of the student or of the organisations. Many
hackers provide the illegal links to the users so that they can click on that link and get a lot of
spam in the systems so that it can spoil this system in a disastrous manner. All these are the
different types of Cybercrimes that are common in today's world and are required to be resolved
out for every user who is using Technology either personally or for the professional use. Hackers
attacks the organisations more as compared to the individual people. The reason behind this is
that the individual people don't have the relevant content or data through which the hackers can
blackmail them in order to steal the money and moreover they cannot make their reputation
down in the market because they are the individual entity. But organisation contains a lots of
data known as the big data which means the large amount of data which the company uses for
the analysis of the data in order to make the decision and for the future considerations. This data
is highly private and confidential for the organisation and important that they cannot lose this
data at any cost. Data breaches are the very common problem in the companies therefore they
put type security specially on their data with the help of different information system such as
database management system or management information systems. It is said that if there is a
disease that must be a cure. Similarly, in the technical world if there are Cybercrimes then there
are cyber security as well to protect and prevent the individual and the organisation from such
dangerous Cybercrimesc(Irshad and Soomro, 2018).
Negative impact of cybercrime on the user
There is the negative impact of cybercrime on the individual user and on the organisations
as well. Loss of money because of the online theft is one of the negative impact of cybercrime on
the user which means that the main purpose of the hackers who are involved in the misconduct
and illegal doing are only the money such as they steal the money from them either by
blackmailing them or by stealing their private credentials from the user. Expenses incurred to fix
problems and prevent future Cybercrimes is one of the negative impact of cybercrime on the user
because the individual or the company who has faced the cybercrime there's a lots of expenses in
order to fix the challenges faced by them due to the cybercrime and moreover they spend money
to prevent future Cybercrimes (Li, Yazdanmehr, Wang and Rao, 2019). Loss of reputation due to
personal information that is revealed is an another negative impact of cybercrime on the user
because personal identity information is the most important part of any individual and the
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organisations life and if that is revealed then they can be in a great loss of money E and also of
the reputation in the market which can cause suicide and many more disastrous impacts.
Corrupted files due to virus is also the one of the negative impact of cybercrime on the user
which means that viruses attacks on the system directly attacked on the files and make the files
corrupted so that the user cannot open the file which contains important and confidential
information which can be used for the analysis and for the future consideration for the decision
making process. They lost the data due to corruption of the file which can negatively impact on
the life and their working as well. Long-term death created resulting in poor credit rating is also
an another negative impact of cybercrime on the user which means that the people who are the
victim of cybercrime suffers from the long-term depth which results in their poor credit rating
which can make them financially weak and cannot afford that basic living also. All such impact
of cybercrime on the user is breath taking and the people who are suffering as a victim of
cybercrime are still recovering get back so that they can live the normal life because it causes the
highly negativity in the life of the people who has been the victim of such illegal and misconduct
doings of the hackers who misuses their technical knowledge by making the people fool in terms
of Technology (Virmani and Kaushik, 2020).
Types of cyber security
There are different types of cyber security in order to protect the individual or an
organisation from cybercrime. Keeping the software and operating system updated is one of the
type of cyber security which means that in order to protect the systems from cybercrime it is
important to keep every application and every important software such as operating system to be
updated in order to get tight security for the systems. This can save the people from misconduct
and illegal doings of the hackers (Wang, Nnaji and Jung, 2020). Use of antivirus software and
keeping it updated is an another type of cyber security which means that in order to be e save
from being the victim of cybercrime it is important to install the antivirus software in the system
and updating get on a frequent basis so that the virus attack can be minimised on the system and
important data and files could be saved in the computer. Using strong password is also the one of
the type of cyber security which means that using the password which cannot be broken by
anyone must be used in the confidential or Private data or in any application of the system such
as using of the biometrics systems for example fingerprint or face lock. Authentication and
authorisation is also the part of it because the people who are restricted from entering the data
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cannot access the data until and unless they are not authenticated and authorised towards the data
and it is known as the access control tool of the cybersecurity. Encryption and decryption is also
the part of it which means that the transfer of data from the sender to the receiver must be
encoded and decoded in the private language so that anyone else cannot see the data and retrieve
it and misuse it and therefore encryption and decryption is important of the important and
confidential data. Never open attachments in spam emails is also and another type of cyber
security which means that there are many fraud emails which are received by the user and the
open them accidentally or intentionally and therefore it must be restricted by the user and they
should not open such emails who are specially in the spam folders because they can create the
mess in their system (Hasham, Joshi and Mikkelsen, 2019). Do not click on links in spam emails
or a trusted website is one of the type of cyber security which means that it is safe for the user
that they must not click any unknown website link because that link can cause the cybercrime
and installation of the Malware in the systems to destroy the system and the important data
containing in it. Do not give out personal information unless it is secure is an another type of
cyber security which means that it is important to safeguard the personal identity information for
the user and not to give to anyone until they feel that it is trusted and protect it with the person
who are asking for it. This is because the hackers misuse the same information to hack the
credentials of the user and steal the money out of it. Contact companies directly about suspicious
request is also the one of the type of cyber security which means that if any user is feeling that
someone is requesting which is fraud and misconduct then they can immediately contact the
similar company so that they can review the accurate information about it and cannot be the
victim of cybercrime. Being mindful while visiting the website uniform resource locator is also
and another type of cyber security which means that there are many people who browse different
links in the uniform resource locator without any information of its safety and therefore it is
essential for the user to reach check the link they are using so that they cannot visit the wrong
link which can harm the system in anyway. Keeping an eye on the bank statements is an another
type of cyber security which means that it is significant for the user to visit their bank accounts
on a frequent basis in order to check that bank balance is accurate or not as per their information
so that they can be well known about the things happening with the transactions they are doing
on the daily basis for security purpose (Anders, 2020).
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Positive impact of cyber security on the user
There is numerous positive impact of cybersecurity on the user after implementing on their
computer systems in order to protect them from any cybercrime. Such as the positive impact of
cybercrime on the user is that it can protect the business in every form such as the data Savage
and better operations and Management in an organisation. It protects the personal information
also so that reputation can be saved in the Marketplace of the individual or of the organisation as
well (Burnes, DeLiema and Langton, 2020). It also allows employees to work safely because if
protected systems are not installed in the company then the employees also feel unsafe while
working on the computer systems. Cyber security stops the website from going down because if
computer is containing any virus or any Malware software then it causes the website to get low
while working on it that is why it stop the website from going down. It protects the productivity
of the organisation and denies the spyware to enter into the computer system either on the
individual computer or in the organisational computer. Moreover, the cybersecurity protects the
network and data from any unauthorised access and improves the information security and
business continuity management along with the improvement of stakeholder confidence and
enhancement of the company credentials with the current security controls which leads to the
faster recovery in the event of any breach (Wyre, Lacey and Allan, 2020).
CONCLUSION
It is concluded that Cybercrimes and cyber security is an important concept to learn because
nowadays implementing the information technology is very important to advance the operations
and Management in the companies and therefore protection is also required in order to safeguard
the technology implemented. Thereby in order to apply such learning in a real world
organization, it is important to analyze the types of cybercrime, it is essential to examine the
negative impact of cybercrime on the user, it is necessary to determine the types of cybersecurity
and it is significant to gain the knowledge about positive impact of cyber security on the user.
Hence this report covers all such areas in order to better understand the conception of cybercrime
and cyber security in information technology.
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REFERENCES
Books and journal
Anders, S.B., 2020. IRS Tax Identity Theft and Fraud Resources. The CPA Journal. 90(12/1).
pp.74-75.
Burnes, D., DeLiema, M. and Langton, L., 2020. Risk and protective factors of identity theft
victimization in the United States. Preventive medicine reports, 17, p.101058.
Hasham, S., Joshi, S. and Mikkelsen, D., 2019. Financial Crime And Fraud In The Age of Cyber
Security. McKinsey & Company.
Irshad, S. and Soomro, T.R., 2018. Identity theft and social media. International Journal of
Computer Science and Network Security. 18(1). pp.43-55.
Lallie, H.S., Shepherd, L.A., Nurse, J.R. and Bellekens, X., 2021. Cyber security in the age of
covid-19: A timeline and analysis of cyber-crime and cyber-attacks during the
pandemic. Computers & Security, 105, p.102248.
Li, Y., Yazdanmehr, A., Wang, J. and Rao, H.R., 2019. Responding to identity theft: A
victimization perspective. Decision Support Systems, 121, pp.13-24.
Thomas, J., 2018. Individual cyber security: Empowering employees to resist spear phishing to
prevent identity theft and ransomware attacks. Thomas, JE (2018). Individual cyber
security: Empowering employees to resist spear phishing to prevent identity theft and
ransomware attacks. International Journal of Business Management. 12(3). pp.1-23.
Virmani, D.C. and Kaushik, N., 2020. M, Mathur V, Saxena S (2020) Analysis of cyber attacks
and security intelligence: Identity theft. Indian Journal of Science and
Technology. 13(25). pp.2529-2536.
Wang, V., Nnaji, H. and Jung, J., 2020. Internet banking in Nigeria: Cyber security breaches,
practices and capability. International Journal of Law, Crime and Justice, 62, p.100415.
Wyre, M., Lacey, D. and Allan, K., 2020. The identity theft response system. Trends and Issues
in Crime and Criminal Justice, (592), pp.1-18.
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