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Cybercrime Essay

1195 words - 5 pages

Nowadays, E-commerce is a fundamental part of marketing activity. Most of e-commerce proceeds on the websites of publicly traded companies. A challenge that e-business face is that vulnerably experience e-crime, also known as cybercrime. As Internet technology continues to rise throughout the world, the threat of cyber crime also grows. While some of these crimes are relatively harmless and commonplace, others are very serious and carry with them felony charges. Various types of Cyber crimes that can be encountered over the net are spam, fraud, cyber terrorism and so on. Whether for individuals, companies or governments, cybercrime has become a big problem.
Spam is defined as unsolicited ...view middle of the document...

Certain computer viruses can log keystrokes on your keyboard and send them to hackers, who can then take your Social Security number, credit card number and home address. This information will be used by the hacker to achieve his own goal. From my own experience, my computer got a virus last year. At the beginning, the system run much slower and it could not be deleted due to antivirus program. Two days later, the virus completely made my system break down. After I reset my computer, I found that my password of MSN has been changed by someone else. Fortunately, there is no loss on my bank account. In addition, hackers can collect one’s personal information by a fake website. These websites are absolutely same as official sites. Checking the website before any payment is a good way to protect identity information.
Due to the increase in cyber terrorism, the hacking into or crashing of official websites, government officials and Information Technology security experts have recently achieved a significant improvement of critical systems, in order to better protect information sensitive sites. “Many of the attacks are serious and costly. The recent ILOVEYOU virus and variants, for example, was estimated to have hit tens of millions of users and cost billions of dollars in damage. The February denial-of-service attacks against Yahoo, CNN, eBay, and other e-commerce Web sites was estimated to have caused over a billion in losses. It also shook the confidence of business and individuals in e-commerce” (Denning).
In October 2004, a criminal gained access to the ChoicePoint Inc.’s database and thereby steal 145,000 credit card files before leaving the system. The criminal did not have to crack the system with hacking procedures; however, he simply lied about his identity through the phone call and on a few forms. Afterward, the data was simply handed over to him. As a normal course of business, companies such as ChoicePoint Inc. distribute this type of information for a price to individuals for legitimate business purposes. In this case, the criminal made up false information about himself and was given access to the files. In response to the theft, ChoicePoint said it was "re-credentialing" business clients to be sure they can access only the database where they are entitled. It planned to require site visits for business customers accessing sensitive consumer database. The company said private investigators and some debt collectors would be allowed to see only "truncated versions" of Social Security numbers, driver's licenses and credit reports.
Cybercrime is harmful to marketing operations and to a company’s stock market performance. Corporate managers must consider e-risks, which is potential...

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