Did you know that in 2009, financial service firms reported zero cybercrime? Yeah , I'm not making that up! Zero cybercrime! And now, just three years later, cybercrime accounts for 38% of economic crime that financial service companies have experienced. So why the sudden jump? Read on...
Well, as it turns out, this data is probably flawed. According to other research cited in the article, the reason that cybercrime was not reported in 2009 was due to a lack of detection of the crime taking place. This largely had to do with the companies either lacking the proper security software, or the employees lacking the training to be able to detect cybercrime, or both.
However, the data it still striking, and there definitely has been a large increase in cybercrime on the financial spectrum since 2009. This is thought to have to do with the economic downturn in recent years. Even street gangs like the Bloods and Crips have apparently stopped bashing people in the head, and instead have turned the attention to learning Bash so they can breach security systems for monetary gain.
It seems that this is a problem that could get much worse in coming years. Based on the reading I did, it seems to me that companies and judiciaries are woefully in the dark when it comes to the risk that cybercrime poses. I mean, we live in the Internet age, where most records are kept electronically, and if someone can hack into the computer systems for these major financial instutions, then that is obviously a serious problem. Companies should probably start taking this threat more seriously, and place some time and money into the problem now, rather than having something bad happen to them, and losing much, much more time and money in the end.