Cyber Crimes Now More Sophisticated and Growing by 45%

According to a new survey on 'e-crime' conducted by KPMG as well as AKJ Associates, the total number of cyber crime incidences has risen 45%, as the technical sophistication reportedly growing for these offenses as well as tools used to perform them.

The chief sources of such online assaults are malware-embedded e-mails (48%) and malware-rigged websites (63%). As per the survey, cyber criminals most typically target consumers' data like login passwords, account details and PIN (personal identifiable number), while the areas having the most impact are service supplier or business partner networks, third-parties having access to consumer information and web services.

Security analysts comment that malicious software are easily available in the market and even beginners in cyber crime can access them. By spending a paltry sum of money, one can purchase or hire software that could harvest users' credentials from a remotely located system. Moreover, it is easy to carry malware since its automation technique and architecture is continuously changing, while its artificial intelligence leads to difficulty in detecting and eliminating it.

When the new enhanced versions of malware become available, the malware auto-updates itself and attempts to infiltrate the real system. In case the malware finds itself discovered, it moves out from the hard drive.

Further, phishing attacks at 48% are increasingly turning popular while targeting mainly to the financial services sector where consumers' lack of experience is the major reason enabling the attacks. Unfortunately, modern anti-malware software do not provide the appropriate protection.

The survey also states that attacks with social engineering (43%) continue to be extremely successful and rank high among data collecting tactics, as information on the Net is effectively granular.

However, the biggest concern is that individual online surfers followed by ISPs and government agencies are making the least contribution to the war against electronic crime. Consequently, there is a severe downgrade of faith in the confidential and secure usage of online-based services, security analysts stated.

The analysts also indicated that e-crime cannot be overcome with just enforcement of regulatory requirements, deployment or standardization of technology rather it must involve strategic prevention.

Related article: Cyber Child abuser Sentenced To Imprisonment

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