Types of Cyber Crimes

16/03/2017

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What Types of Cyber Crimes Are There?

Trojan Horse

By far one of the sneakiest types of cyber crimes is the Trojan Horse. This will attempt to hack into your computer by misleading you of its true intent.

One of the most insidious types of Trojan Horse is a program that claims to rid your computer of viruses but instead introduces viruses onto your computer, very sneaky indeed.

Ransomware

Ransomware is a type of malware (malicious software). When it attacks, it encrypts your data or just locks you out of the device altogether, and then, you guessed it, the sender demands a ransom to free your data/ device!

The worst part is, even if you pay the ransom there is no guarantee your data/ device will be retrieved, these are crooks after all.

Time Bomb Virus

A Time Bomb virus acts with malicious intent just like any other virus, however it has been designed to stop or start functioning after a predetermined date or time is reached. This functionality not only makes it one of the more sophisticated types of cyber crimes, but also one of the hardest to detect.

Often, Time Bomb viruses are uploaded internally.

Lloyd turned on the company, planting a software time bomb that destroyed the hub of the network that he himself created.

“Lloyd turned on the company, planting a software time bomb that destroyed the hub of the network that he himself created.

Phishing

Phishing is one of the most common types of cyber crimes, it comes in the form of a seemingly harmless e-mail with hidden malicious intent. The sender, often disguised as a trustworthy entity, will attempt to extract information such as usernames, passwords and bank details.

If information is handed over it will be used in a fraudulent and illegal manner, often in the form of identity theft.

“It looked absolutely genuine. It came from my bank and said that there had been some unfamiliar activity on my account.

Credit card with a fish hook on computer keyboard - credit card data theft due to phishing

Macro Malware

A few years ago, Macro Malware seemed to be a thing of the past. However, recently it has seen an increase in popularity. This virus runs on a programme, usually Microsoft Office, it will corrupt the programme so that a sequence of unwanted events happens whenever you open said programme.

This spreads fast as people usually trust and Excel or Word document in their inbox.

Why is Cyber Crime So Important?

“UK businesses reported losses of £1,079,447,765 because of cyber-crime in the past year.

The scariest part of this statistic is that it only includes reported cyber crimes, many businesses will try to keep the cyber attacks under wraps to avoid the damage incurred to their reputation.

Want to Avoid a Hefty Fine?

The very real threat of fines was demonstrated last year with TalkTalk being fined a record £400, 000 for failing to prevent a cyber attack.

It is the personal responsibility of every UK business to protect themselves from different types of cyber crimes. Currently, this is regulated by the UK government’s Data Protection Act 1998, organisations who fail to protect them and their customer’s data will be fined. However, this fine is quite minor compared to the ones we could soon be seeing…

As of 25th May 2018, The EU General Data Protection Regulation will come into place. This European regulation will supersede our national laws and will enforce much larger fines. Organisations found to be in breach of the regulations can expect fines of up to 4% of their annual global turnover, not profit, turnover. This new regulation has the potential to cripple UK businesses who are not cyber secure.

Cyber Security – Top Tips

  • Install and update security software
  • Back up your data
  • Don’t use a Mother’s Maiden Name for a password. This can easily be found at family tree websites
  • Train your staff about the different types of cyber crimes
  • Pause and reflect, a cyber criminal will always try to rush you
  • Don’t open attachments or click on links from an unknown source
  • Check for the ‘S’ in the ‘HTTPS’, this demonstrates a secure network
  • Segregate control, not everyone needs access to everything
  • Remember the three P’s – Policies, Procedures & Precaution

How the British Assessment Bureau Can Help

Fear not, there is good news! At BAB, we’re passionate about cyber security and can help you protect your business from cyber criminals.

Cyber Essentials

This government backed scheme is the latest tool in our armoury of cyber defence. When implemented, Cyber Essentials will bring your business up to speed on patch management, secure configuration, malware protection, access management and firewalls. Thus, protecting your business from the most common types of cyber crimes.