What are some of the Effects of cybercrime in organisations?
Finding following points still relevant from a 2013 report entitled "2013 - The Impact of Cybercrime" (see the link for detailed explanation):
http://resources.infosecinstitute.com/2013-impact-cybercrime/
there are many effects of cyber crime on marketing , production and operations , human resource , and finance and investment activities within digital organization ( IT and E.commerce )
you can tray to allocate all of above 9 impacts and others on the business functions
A world that runs (increasingly) on data flows is also one that is (increasingly) vulnerable to cyber-attacks. Weak cyber-security can result in significant costs to business and also pose privacy, public safety, and national security risks. Globally, there are several million cyber-attacks every day, most of them automated. Cyber-attacks can jeopardize ICT infrastructure such as data centers and networks but also infrastructure that is managed by ICT such as airports, harbors, hospitals, power plants, smart cities, and smart grids. McAfee has estimated that cyber-crime costs the global economy about $400 billion in annual losses, this from consumer data breaches, financial crimes, market manipulation, and theft of intellectual property. See McAfee. 2014. Net Losses: Estimating the Global Cost of Cybercrime.
Also, there is a relatively new type of cybercrime. It came up just a couple of years ago. It is called ransomware, and in the essence it is a cryptovirology attack gaining a quick popularity among cybercriminals.
By entering a cryptovirus in a user machine with, for instance, a Trojan horse attack - cybercryminals can lock the user's screen or encrypt vitally important data on the computer discs or connected databases, and then demand a ransom to return computer status/data back to normal.
These attacks becoming more frequent and create serious danger as they can cause loss of business or personal data privacy, confidentiality, and security, as well as substantial reputational and financial loss. Paying ransom is a two edge sword, as the same cybercriminals can repeat this attack again. There was a mention in the media that the global economy loss reached a mark of 1B$ a year due to ransomware attacks.
See details in the link below:
https://en.wikipedia.org/wiki/Ransomware
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