Cybercrime is a criminal activity conducted by cybercriminals who use computer networks to perform unlawful activities and commit crimes utilizing digital equipment.
In this twenty-first century, everyone prefers communicating via the internet to do business and other simple activities. While technology innovation provides numerous benefits, it also introduces a slew of threats owing to rampant criminal behavior.
Cybercriminals take advantage of the computer and the internet to commit various crimes such as financial fraud, spying, cyber warfare, online harassment, and sex trafficking.
Cybercrime includes the remote theft of information, the stalling of millions of dollars from online banking, and even the disclosure of personal and organizational information to threaten and blackmail.
Cybercriminals are more likely to disseminate hatred, incite terror, and engage in child pornography.
Furthermore, ransomware causes enormous economic harm to the entire world. According to a McAfee-sponsored analysis, annual global economic loss is predicted to be $444 billion due to cyber crimes committed.
According to another report from Cyber Security Venture, global cybercrime damages will cost up to $6 trillion per year by 2021 and $10.5 trillion per year by 2025. Such massive losses are beyond comprehension.
Moreover, almost 1.5 million cyber-attacks occur each year, and it is believed that over 4 thousand attacks occur each day, with 170 occurring every minute. Cybercriminals can also target multiple people at the same time.
To summarize, because of cybercriminals, people are profoundly affected in each and every part of the world. The governments are losing so much money, and endless personal and government information is also getting leaked jeopardizing the sovereignty of nations.