cybercrime

Definitions

Examples

• With the rise of ransomware attacks and cybercrime in the headlines week after week, fighting cybercriminals takes a multi-faceted approach that’s not just the realm of the CTO, but of every business leader.

• In 2020 alone, the total known cost of cybercrime was over $1 trillion in global losses, more than double the costs in 2018.

• The ransomware crew known as REvil has existed for years in the booming cybercrime underground.

• That’s where the agents had started trying to understand a cybercrime explosion that was targeting Americans and pulling in millions of dollars from victims.

• As ransomware and cybercrime increasingly becomes a national security threat—and one that risks harming human beings, as in the case of attacks against hospitals—it’s become clear that government action is required.

• Foreign governments and organized cybercrime gangs that sell stolen accounts and credit cards in bulk are also possible culprits.

• The cybercrime organization can access virtually ‘unlimited’ proceeds.

• “In the place of guns and masks, this cybercrime organization used laptops and the Internet,” Lynch elaborated.