ISSN 2348-1196 (print) International Journal of Computer Science and Information Technology Research ISSN 2348-120X (online) Vol. 9, Issue 2, pp: (23-33), Month: April - June 2021, Available at: www.researchpublish.com
Impact of Covid-19 on cyber crimes Pramodkumar H N Analyst and Certified Ethical Hacker (ECC7843915620) Cyber Security
Abstract: Cyber Security plays an important role in the field of information technology. Securing informationhas become one of the biggest challenges in the present day. Whenever we think about the cyber security the first thing that comes to our mind is cyber crimes which are increasing immensely day by day. Various Governments and Companies are taking many measures in order to prevent these cyber crimes. Besides various measures cyber security is still a very big concern to many. This paper mainly focuses on the statistics and the mitigation of cyber crimes. Keywords: Cyber Crime, Challenges, Statistics, Prevention.
1. INTRODUCTIONS As the Government/organizations around the world continue to trudge through the disruption caused by the COVID-19 pandemic, cybercriminals keep coming up with even more menacing ways of dragging them down. According to research conducted by Cyber security Ventures, cyber security experts have predicted that cybercrime will cost the global economy $6.1 trillion annually by 2021. With the pandemic serving as a catalyst, cybercrime is expected to soon become the world’s third-largest economy. While the ongoing pandemic has forced an unprecedented number of people to work from home and forgo the security of a well-developed IT infrastructure, cybercriminals have marked the unwary employees as the target of choice. Organizations were compelled to innovate and adapt so swiftly that the security didn’t get enough time to catch up, leaving businesses vulnerable to the cyber threats looming across the horizon.
2. STATISTICS ON CURRENT CYBER THREAT LANDSCAPE Owing to the COVID-19 pandemic and the sudden transformation to remote work culture, cybercrimes have risen like never before and are expected to rise even more as we move towards 2021. Following are some outrageous statistics showing just how severely these cyber attacks are affecting the global economy: As per the research conducted by Cyber Security Ventures (CSV), Within months of the first lockdown due to the pandemic, more than 4,000 malicious COVID-related sites popped up across the internet. A cyber attack incident will occur every 11 seconds in 2021. This is nearly twice the rate in 2019 (every 19 seconds), and four times what it was in 2016 (every 40 seconds). Cybercrime is expected to cost the global economy $6 trillion annually by 2021, as compared to $3 trillion in 2015. This will soon make it the world’s third-largest economy, after the United States and China. CSV predicted that ransomware damages will cost the world $20 billion by 2021, which is 57 times more than what it was in 2015 ($325 million). This makes ransomware the most rapidly growing kind of cybercrime. According to CSV, 91% of cyberattacks are launched through spear-phishing emails, which infect the organizations/Government with ransomware.
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