New Trends in Cybercrime, challenges and countermeasures

New Trends in Cybercrime, challenges and
countermeasures
Discussion

New Trends in Cybercrime, challenges and countermeasures: Protector’s point of view
In the last decade or so the rate of cyber crime has increased exponentially and companies have
found it extremely difficult to manage the increasing cyber crime. Over the years with the
development of information technology the cyber criminals have discovered number of ways to
get into the corporate systems and wreck havoc not only in terms finance but also in terms of
data. With time the hacking strategies have also become complex which gives hard time to the
organisations to decipher. Over the years the trends in cybercrime has changed and accordingly
the technological infrastructure had to change in order to combat the increasing problem of
cybercrime (Sethi and Sruti, 2017).
The recent trend in Cybercrime is data theft transforming into data manipulation. It is one of the
most crucial problems for most of the corporate organisations especially banks and IT
organisations have failed to identify manipulation of data. The last financial year of 2018 saw the
world spend around $600 billion to combat cybercrime which apparently shows a rise of around
$100 billion within four years. Cybercrime is assumed to hit around $6 trillion of intellectual
property which would be huge threat to organisations. In the last five years or so the act of data
manipulation has increased by 17% and is likely to grow by another 10% by the end of 2021
which clearly shows the threat that hackers could bring on the global information system. In this
scenario keeping the data integrity intact in the modern day is the biggest challenge that
companies faces. Data integrity is the assurance that only the authorised people are able to access
the data and make changes (Ullah et al., 2018). Giving this assurance from the side of the
company becomes extremely tough due to the increased attacks from the cybercriminals.
Banking organisations, IT companies, Public Administration organisations face challenges
especially when the entire information system is placed on cloud because cloud service security
could be extremely thin that is easier to hack and hence is also easier for the hackers to tamper
the information. Nowadays the hackers do not take away the data but manipulate the same
getting into the system which largely affects the clients as they do not get the exact picture of
their financial and business status (Li, Meng and Kwok, 2016). The issue honesty is also
important in this case because the service provider has to keep a track of the data and the client
and do not delete data which has not been accessed for a period of time in order to keep fewer
replicas. Data manipulation is creating wrong and negative information replica for the client and