essay on cyber crime cyber security and banking

Writing a Proper Essay on Cyber-Security in Banking Sector

The banking industry is very important for all people who deal with money. Banking systems throughout the globe regulate the monetary stability in a concrete country. Great unions regulate huge regions. Once a bank crashes, a country may live through a default, which means economic catastrophe. As the result, it involves other spheres and destabilizes normal life in general. One of the reasons that lead to problems is poor cybersecurity . This article concentrates on 6 good ways that help to improve cybersecurity in the banking sector.

Nowadays, cyber-attacks have increased many a time. This is a huge threat to every citizen of the Earth because privacy is violated. The threat becomes even more troublesome and dangerous when it involves cyber-attacks on banks. If you want to write an essay on the topic, but if seems too complicated for you, you can address professionals. Simply type write my essay for me by EssayHub in the search bar and find your essay helper!

Cybercriminals get directly into the pockets of citizens. This becomes possible due to multiple attacks of hackers on banks. The banking sector is of huge importance for the stability of people’s well-being. A hacker attack, which ruins the banking industry, leads to a dangerous destabilization of the economy of the country. Accordingly, it triggers lots of factors that affect other spheres of human activity. Such danger negatively affects business, education, culture, and so on. Attacks from hackers in the banking sector must be prevented and stopped. There are six measures, which can help to overcome this threatening situation.

1. The threat should be taken seriously.

Some banks strongly believe that they will never be robbed thanks to dependable safeguards and firewalls. They think that they are simply invisible. This makes them less cautious and actually irresponsible. They understand that their protective measures are weak when it’s too late. A solution is to fully realize all threats and accept the possibility of being attacked. Afterward, banks should implement new equipment to prevent dangers. No matter how good the equipment is, it should be constantly improved to stop new attempts, which become better each time.

2. Good analysis is required.

Banking protection systems compile data on various issues. This gives an opportunity to enhance every point to ensure safety, as well as other branches. One may simply say “Here is a problem and I have information about how to fix and improve it”. Unfortunately, tons of information isn’t analyzed properly.  Regulators commonly don’t collect security data. As the result, there is no possibility to define the potential threats. It’s needed to change this function and gather all possible data. Thus, it will become much easier to foresee possible cyber assault.

3. All third-parties vendors must be verified.

They commonly give data on technology services. Nonetheless, the practice shows that they may open this data to other people, which sufficiently increases the risks. Other people may turn it to their advantage and steal money. Currently, this is a critical issue because there is no permission to verify third parties. The government should realize the risks and allow checking distributors of information in order to secure their own safety. Thus, the safety of banks will be enhanced as well.

4. Secure mobile operations.

Today, people actively use their cell phones for greater speed and comfort. It goes beyond all doubts that mobile banking is among them. Banks support this kind of access. People don’t have to stand in long queues while their turn comes. Banks thrive as well because they can make much more operations, which results in their prosperity at a great tempo. In the meanwhile, they don’t give enough heed to the security of mobile banking. It also requires modern equipment and advanced safeguards. Otherwise, clients become vulnerable to hacker attacks. Besides, banks are under a threat too.

5. Regulators should hire more IT specialists.

Currently, small and medium-sized banks aren’t protected properly. Commonly, they are considered to be units that are at low risk of attacks. IT specialists only make general analyses. This is a fatal mistake. Such banks are attacked on a constant basis. This inevitably leads to problems with bigger institutions. They become weaker. Banks should involve more experts to dig deeper into the slightest details.

6. The information on threats is supposed to be shared faster and with all the details.

People share information about potential hazards, but this process is way too slow and lacks details, which are crucial on such occasions. Once there appears suspicion, banks or clients don’t always have an immediate possibility to report the case. Sometimes, banks simply hide this data because they are afraid that their reputation will be shaken off. It’s much better to allow clients to share this vital information. This helps to prevent thousands of attacks annually.

The matter of banking security is important and it should be ensured in all possible ways and at any cost. There are at least six available variants. Unfortunately, some of them are disallowed. For example, banks hide or don’t compile data on cyber threats or the government doesn’t allow verifying third parties. Once these issues are solved, the danger of cyber-attacks will be significantly decreased”.

References:

• Anand, Priya. “6 ways the banking industry could improve on cybersecurity”. Marketwatch.com, https://www.marketwatch.com/story/6-ways-the-banking-industry-could-improve-on-cybersecurity-2015-07-02. 2015, 2 July.
• “How the Banking Industry is Fighting Cyber Crime”. Careersincybersecurity.com, https://careersincybersecurity.com/banking-industry-fighting-cyber-crime/. 2019
• Barnes, Samantha “HOW WILL BANKS ADDRESS GAPS IN CYBERSECURITY?” Internationalbanker.com, https://internationalbanker.com/technology/2017-will-banks-address-gaps-cybersecurity/. 2017, March 2.

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Cybersecurity in Banking: Importance, Threats, Challenges

Home Blog Security Cybersecurity in Banking: Importance, Threats, Challenges

As we transition to a digital economy, cybersecurity in banking is becoming a serious concern. Utilizing methods and procedures created to safeguard the data is essential for a successful digital revolution. The effectiveness of cybersecurity in banks influences the safety of our Personally Identifiable Information (PII), whether it be an unintentional breach or a well-planned cyberattack.

The stakes are high in the banking and financial industry since substantial financial sums are at risk and the potential for significant economic upheaval if banks and other financial systems are compromised. With an exponential increase in financial cybersecurity, there is high demand for the profession of cybersecurity. Take a look at the best Security certifications .

What is Cybersecurity in Banking?

The arrangement of technologies, protocols, and methods referred to as "cybersecurity" is meant to guard against attacks, damage, malware, viruses, hacking, data theft, and unauthorized access to networks, devices, programs, and data.

Protecting the user's assets is the primary goal of cybersecurity in banking. As more people become cashless, additional acts or transactions go online. People conduct transactions using digital payment methods like debit and credit cards, which must be protected by cybersecurity.

Current State of Cybersecurity in Banks

Between June 2018 and March 2022, Indian banks reported 248 successful data breaches by hackers and criminals; the government notified Parliament on Aug 2, 2022.

The Indian government has reported 11,60,000 cyber-attacks in 2022. It is estimated to be three times more than in 2019. India has been the target of serious cyberattacks, such as the phishing attempt that nearly resulted in a $171 million fraudulent transaction in 2016 against the Union Bank of India.

Another instance of a cyberattack involving online banking was Union Bank of India, resulting in a substantial loss. One of the officials fell for the phishing email and clicked on a dubious link, which allowed the malware to hack the system. The attackers entered the system using fake RBI IDs.

Banks have been mandated to strengthen their IT risk governance framework, which includes a mandate for their Chief Information Security Officer to play a proactive role in addition to the Board and the Board's IT committee playing a proactive role in ensuring compliance with the necessary standards.

Reasons Why Cybersecurity is Important in Banking

The banking industry has prioritized cybersecurity highly. Building credibility and trust is the cornerstone of banking, so it becomes much more essential. Here are five factors that demonstrate the significance of cybersecurity in the banking industry and why you should care:

• Everyone looks to be entirely cashless and using digital payment methods like debit and credit cards. In this case, ensuring that the required cybersecurity safeguards are in place to protect your privacy and data is critical.
• After data breaches, it could be difficult to trust financial institutions. That's a significant issue for banks. Data breaches caused by a shoddy cybersecurity solution may easily lead to their consumer base moving their business elsewhere.
• The majority of the time, when a bank's data is compromised, you lose time and money. Recovery from the same can be unpleasant and time-consuming. It would entail canceling cards, reviewing statements, and keeping a watchful lookout for issues.
• Inappropriate use of your private information might be very harmful. Your data is sensitive and could expose a lot of information that could be exploited against you, even if the cards are revoked and fraud is swiftly dealt with.
• Banks need to be more cautious than most other firms. That is the price for banks to retain the kind of valuable personal data they do. If the bank's information is not safeguarded against risks from cybercrime, it could be compromised.

Top Cybersecurity Threats Faced by Banks

Cybercrimes have increased frequently over the past several years to the point where it is thought that they are one of the most significant hazards to the financial sector. Hackers have improved their technology and expertise, making it difficult for any banking sector to thwart the attack consistently. The following are some dangers to banks' cybersecurity:

1. Phishing Attacks

One of the most frequent problems with cybersecurity in the banking sector is phishing assaults. They can be used to enter a financial institution's network and conduct a more severe attack like APT, which can have a disastrous effect on those organizations ( Advanced Persistent Threat ). In an APT, a user who is not permitted can access the system and use it while going unnoticed for a long time. Significant financial, data and reputational losses may result from this. According to the survey , phishing assaults on financial institutions peaked in the first quarter of 2021.

The term "Trojan" is used to designate several dangerous tactics hackers use to cheat their way into secure data. Until it is installed on a computer, a Banker Trojan looks like trustworthy software. However, it is a malicious computer application created to access private data processed or kept by online banking systems. This kind of computer program has a backdoor that enables access to a computer from the outside.

Around the globe, there were roughly 54,000 installation packages for mobile banking trojans in the first quarter of 2022. There has been an increase of more than 53% compared to last year's quarter. After declining for the first three quarters of 2021, the number of trojan packages targeting mobile banking increased in the fourth quarter.

3. Ransomware

A cyber threat known as ransomware encrypts important data and prevents owners from accessing it until they pay a high cost or ransom. Since 90% of banking institutions have faced ransomware in the past year, it poses a severe threat to them.

In addition to posing a threat to financial cybersecurity, ransomware also affects cryptocurrency. Due to their decentralized structure, cryptocurrencies allow fraudsters to break into trading systems and steal money.

4. Spoofing

Hackers use a clone site in this type of cyberattack. By posing as a financial website, they; 

• Design a layout that resembles the original one in both appearance and functionality.
• Establish a domain with a modest modification in spelling or domain extension.

The user can access this duplicate website via a third-party messaging service, such as text or email. Hackers can access a user's login information when the person is not paying attention. Seamless multi-factor authentication can solve a lot of these issues.

The Reserve Bank of India (RBI) reported bank frauds of 604 billion Indian rupees in 2022. From more than 1.3 trillion rupees in 2021, this was a decline.

Applications of Cybersecurity in Banking

Cybersecurity threats are constantly evolving, and the banking sector must take action to protect itself. Hackers adapt when new defenses threaten more recent attacks by developing tools and strategies to compromise security. The financial cybersecurity system is only as strong as its weakest link. It is critical to have a selection of cybersecurity tools and approaches available to protect your data and systems. Here are a few crucial cybersecurity tools:

1. Network Security Surveillance

Network monitoring is known as continuously scanning a network for signs of dangerous or intrusive behavior. It is frequently utilized with other security solutions like firewalls, antivirus software, and IDS (Intrusion Detection System). The software allows for either manual or automatic network security monitoring.

2. Software Security

Application security safeguards applications that are essential to business operations. It has features like an application allowing listing and code signing and could help you synchronize your security policies with file-sharing permissions and multi-factor authentication. The use of AI in cybersecurity will inevitably improve software security.

3. Risk Management

Financial cybersecurity includes risk management, data integrity, security awareness training, and risk analysis. Essential elements of risk management include risk evaluation and the prevention of harm from those risks. Data security also addresses the security of sensitive information.

4. Protecting Critical Systems

Wide-area network connections help avoid attacks on massive systems. It upholds the rigid safety standards set by the industry for users to follow when taking cybersecurity steps to protect their devices. It continuously monitors all programs and performs security checks on users, servers, and the network.

How to Make Banking Institutions Cyber Secure?

Security ratings are a great approach to indicate that you're concerned about the organization's cybersecurity. Still, you must also demonstrate that you're following industry and regulatory best practices for IT security and making long-term decisions based on that knowledge. A cybersecurity framework may be beneficial. You can go for Ethical Hacking training to enhance your knowledge further.

Top Cybersecurity Framework for Banks

A cybersecurity framework provides a common language and set of standards for security leaders across countries and industries to understand their security postures and those of their vendors. With a framework, it becomes easier to define the processes and procedures your organization must take to assess, monitor, and mitigate cybersecurity risk.

Let us take a look at some common financial cybersecurity frameworks:

1. NIST Cybersecurity Framework

The former president's executive order, Improving Critical Infrastructure Cybersecurity, asked for increased cooperation between the public and private sectors for recognizing, analyzing, and managing cyber risk. In response, the NIST Cybersecurity Framework was created. NIST has emerged as the gold standard for evaluating cybersecurity maturity, detecting security weaknesses, and adhering to cybersecurity legislation even when compliance is optional. To achieve NIST compliance , organizations can follow the guidelines outlined in the NIST Cybersecurity Framework and undergo rigorous assessments to ensure they meet the necessary standards.

2. The Bank of England's CBEST Vulnerability Testing Framework

CBEST vulnerability testing methodology was developed by the UK Financial Authorities in collaboration with CREST (the Council for Registered Ethical Security Testers) and Digital Shadows. It is an intelligence-led testing framework. CBEST's official debut took place on June 10, 2013.

CBEST leverages intelligence from reputable commercial and government sources to find possible attackers for a specific financial institution. Then, it imitates these potential attackers' methods to see how successfully they can breach the institution's Defenses. This enables a company to identify the weak points in its system and create and implement corrective action plans.

3. Cybersecurity and Privacy Framework for Privately Held Information Systems (the CIPHER Framework) 

Computer systems that organizations, both public and private, control and that hold personal data gathered from their clients are referred to as PHISs (Privately Held Information Systems).

CIPHER framework addresses electronic systems, digital information kinds, and methods for data sharing, processing, and upkeep (not paper documents).

The CIPHER methodological framework's primary goal is to suggest procedures and best practices for protecting privately held information systems online (PHIS). The following are the main features of CIPHER methodological framework: 

• Technology independence (versatility) refers to the ability to be used by any organization functioning in any field, even as existing technologies deteriorate or are replaced by newer ones. 
• PHIS owners, developers, and citizens are the three primary users who focus on this user-centric approach. 
• Practicality - outlines possible precautions and controls to improve or verify whether the organization is safeguarding data from online dangers. 
• It is simple to use and doesn't require specialized knowledge from businesses or individuals. 

Challenges in Implementing Cybersecurity in Banking

Some contributing elements have presented a significant challenge to digital cybersecurity in banking. The following are some of these: 

1. Lack of Knowledge 

The general public's understanding of cybersecurity has been relatively low, and few businesses have significantly invested in raising that awareness. 

2. Budgets That are Too Small and Poor Management 

Due to the low priority given to cybersecurity, it frequently receives short budgetary shrift. Cybersecurity continues to receive little attention from top management, and programs that assist it are accorded low priority. They might have underestimated how serious these risks are, which is why. 

3. Identities and Access are Poorly Managed. 

The core component of cybersecurity has always been identity and access management, especially now when hackers are in control and might access a business network with just one compromised login. Although there has been a little progress in this area, much work still needs to be done. 

4. Increase in Ransomware 

Recent computer attacks have brought our attention to the growing threat of ransomware. Cybercriminals are beginning to employ various techniques to avoid being identified by endpoint protection code that concentrates on executable files. 

5. Smartphones and Apps 

The majority of banking organizations now conduct business primarily through mobile devices. Every day the base grows, making it the best option for exploiters. Due to increased mobile phone transactions, mobile phones have become a desirable target for hackers. 

6. Social Media 

Hackers have increased their exploitation as a result of social media adoption. Customers that are less knowledgeable expose their data to the public, which the attackers abuse.

Cybersecurity in Banking Sector as a Career: Outlook

Compared to many other occupations, the cybersecurity field offers more job stability. For instance, the BLS predicts a  33% increase in employment for information security experts between 2020 and 2030. Information security in banking has also exponentially increased, and there is a high job demand for protecting against cyber threats to the banking industry. The following skills are required for cybersecurity in the banking industry:

1. Problem Solving Skills

In your day-to-day work as a cybersecurity specialist, problem-solving will be crucial. People working in the field must come up with innovative solutions to tackle and solve difficult information security concerns in a range of current and new technologies as well as digital surroundings.

2. Technical Skills

As the name suggests, cybersecurity focuses on technology. You will probably be assigned with duties including diagnosing, maintaining, and updating information security systems, putting in place continuous network monitoring, and offering real-time security solutions. To carry out a cybersecurity professional's daily duties, one must be digitally competent.

3. Communication Skills

Since you'll be collaborating closely with people in various departments and jobs as a cybersecurity professional, it's crucial that you can clearly express your discoveries, worries, and solutions to others. Speaking clearly and concisely about cybersecurity strategy and policy is crucial, as is being able to explain technical concepts to people with varying degrees of technical knowledge.

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Every organization is concerned about cyber security. It is crucial for banks to have the proper cyber security solutions and procedures in place, especially for institutions that store a lot of personal data and transaction lists. Banking cyber security is an issue that cannot be bargained with. Hackers are more likely to target the banking sector as digitalization advances. 

KnowledgeHut is a platform that provides hundreds of courses in Data Science , Machine Learning, DevOps, Cybersecurity, Full Stack Development, and People and Process Certifications. With  KnowledgeHut top Cybersecurity certifications , you can increase your knowledge about cybersecurity in the banking industry and get the proper training.

Frequently Asked Questions (FAQs)

The goal of cybersecurity in the banking sector is to protect consumer assets. The bank should also take action to thwart the hackers. The number of financial-related acts is growing as more individuals work.

Through fraudulent transactions, cyberattacks can result in significant financial losses for the customer and the banks. Attackers who steal sensitive data from a banking institution may sell it. Data that has been stolen is later misused.

Antivirus software is typically used on bank computers, firewalls, fraud detection, and website encryption, which encrypts data so that only the intended receiver can read it. Your financial institution likely implements these security precautions if you bank online.

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The Effects of Cyber Crime on E-Banking

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• Mohamed Fareed Ghazi Rafea 13 ,
• Allam Hamdan 13 ,
• Ruaa Binsaddig 14 &
• Esmail Qasem 15  

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This research paper is intended to raise awareness of cybercrime on our daily transaction. In the introduction we will state brief issues that occurs during these threats and how it effects banks and other monetary firms. Lastly, we will give a few briefs on important definitions of Phishing, Malware and other sorts of risky viruses. In the body we will go more into details. Firstly, we will state the ordeals of banking sector during these threats. We will explain the use of online services and how it may have risk services. A detailed methodology will be conducted on the use of artificial intelligence in the banking industry and how it may mitigate internal risks. We will explain these vigilances of Identity Theft and what harm it can cause to an individual use and even and in an industry perspective. We will go more into details in the process of Phishing on how to be aware and to avoid these threats. Case studies will be conducted with the support of the United States Federal State laws. The jury and prosecutions that have happened mentioned in detail below. Lastly in the body we will explain how we can take safety measures in avoiding these threats and how to report when it does occur to act. Lastly a brief summary will be giving a prompt explanation for the goal of this research paper.

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Rafea, M.F.G., Hamdan, A., Binsaddig, R., Qasem, E. (2023). The Effects of Cyber Crime on E-Banking. In: Alareeni, B., Hamdan, A., Khamis, R., Khoury, R.E. (eds) Digitalisation: Opportunities and Challenges for Business. ICBT 2022. Lecture Notes in Networks and Systems, vol 621. Springer, Cham. https://doi.org/10.1007/978-3-031-26956-1_53

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Home — Essay Samples — Law, Crime & Punishment — Cyber Crimes — Cybercrime In Banking Industry And Its Impacts On Banking Industry

Cybercrime in Banking Industry and Its Impacts on Banking Industry

• Categories: Banking Cyber Crimes

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Words: 1748 |

Published: May 7, 2019

Words: 1748 | Pages: 4 | 9 min read

Table of contents

Introduction, literature review, methodology, content analysis,  method used type of fraud age place about.

• Asked for confidential information
• Threatens customers
• Claimed calling from a government body
• Trap through false email links
• Claimed that user has won a lottery.
• INTERVIEW MALWARE 18-45 NEPAL, INDIA • Any corrupted file downloaded and data hacked
• INTERVIEW HACKING 18-40 ZIMBABWE, INDIA, NEPAL • Illegal intrusion into a computer system without authorization

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127 Cyber Security Essay Topic Ideas & Examples

Inside This Article

With the increasing reliance on technology, cyber security has become a critical concern for individuals, organizations, and governments worldwide. As cyber threats continue to evolve and become more sophisticated, it is essential to stay informed about the latest trends and issues in this field. If you are tasked with writing an essay on cyber security, here are 127 topic ideas and examples to get your creative juices flowing.

The role of artificial intelligence in enhancing cyber security.

The impact of cyber attacks on critical infrastructure.

The ethical considerations of cyber warfare.

The legal frameworks governing cyber security.

The challenges of securing the Internet of Things (IoT) devices.

The role of encryption in protecting sensitive information.

The effectiveness of password policies in preventing cyber attacks.

The psychology behind social engineering attacks.

The impact of cyber attacks on the global economy.

The future of biometrics in cyber security.

The role of cyber insurance in mitigating cyber risks.

The ethics of hacking for the greater good.

The impact of cyber attacks on healthcare systems.

The role of education in raising cyber security awareness.

The challenges of securing cloud computing environments.

The implications of quantum computing on cyber security.

The importance of international cooperation in combating cyber crime.

The role of cyber security in protecting intellectual property.

The impact of cyber attacks on national security.

The challenges of securing critical data in the cloud.

The role of cybersecurity audits in identifying vulnerabilities.

The impact of cyber attacks on the banking and financial sector.

The ethical implications of government surveillance for cyber security purposes.

The role of cybersecurity professionals in addressing the skills gap.

The challenges of securing personal information in the digital age.

The impact of cyber attacks on elections and democratic processes.

The role of user awareness training in preventing cyber attacks.

The implications of data breaches for consumer trust.

The challenges of securing mobile devices in the workplace.

The role of cyber security in protecting personal privacy.

The impact of cyber attacks on small businesses.

The role of cyber security in safeguarding intellectual property in academia.

The challenges of securing critical infrastructure in developing countries.

The ethical considerations of vulnerability disclosure.

The impact of cyber attacks on the transportation sector.

The role of cyber security in protecting children online.

The challenges of securing Internet of Things (IoT) in smart homes.

The implications of cyber attacks on the aviation industry.

The role of cyber security in protecting against ransomware attacks.

The impact of cyber attacks on the entertainment industry.

The challenges of securing e-commerce platforms.

The role of cyber security in preventing identity theft.

The implications of cyber attacks on the energy sector.

The ethical considerations of government backdoor access to encrypted data.

The impact of cyber attacks on the hospitality and tourism industry.

The role of cyber security in protecting sensitive government information.

The challenges of securing online gaming platforms.

The implications of cyber attacks on the media and journalism.

The role of cyber security in protecting against social media threats.

The impact of cyber attacks on the transportation and logistics industry.

The challenges of securing online banking and financial transactions.

The role of cyber security in protecting against insider threats.

The implications of cyber attacks on the education sector.

The ethical considerations of using cyber weapons in warfare.

The impact of cyber attacks on the retail industry.

The role of cyber security in protecting against insider trading.

The challenges of securing online voting systems.

The implications of cyber attacks on the gaming industry.

The role of cyber security in protecting against intellectual property theft.

The impact of cyber attacks on the healthcare and pharmaceutical industry.

The challenges of securing social media platforms.

The ethical considerations of cyber security in autonomous vehicles.

The implications of cyber attacks on the hospitality industry.

The role of cyber security in protecting against credit card fraud.

The impact of cyber attacks on the manufacturing industry.

The challenges of securing online dating platforms.

The implications of cyber attacks on the insurance industry.

The role of cyber security in protecting against corporate espionage.

The impact of cyber attacks on the food and beverage industry.

The challenges of securing online marketplaces.

The implications of cyber attacks on the pharmaceutical industry.

The role of cyber security in protecting against intellectual property infringement.

The impact of cyber attacks on the nonprofit sector.

The challenges of securing online streaming platforms.

The ethical considerations of cyber security in wearable technology.

The implications of cyber attacks on the real estate industry.

The role of cyber security in protecting against medical identity theft.

The impact of cyber attacks on the telecommunications industry.

The challenges of securing online job portals.

The implications of cyber attacks on the automotive industry.

The role of cyber security in protecting against data breaches in the legal sector.

The impact of cyber attacks on the music industry.

The challenges of securing online auction platforms.

The implications of cyber attacks on the construction industry.

The role of cyber security in protecting against online harassment.

The impact of cyber attacks on the advertising and marketing industry.

The challenges of securing online learning platforms.

The implications of cyber attacks on the fashion industry.

The role of cyber security in protecting against online stalking.

The impact of cyber attacks on the sports industry.

The challenges of securing online travel booking platforms.

The implications of cyber attacks on the beauty and cosmetics industry.

The role of cyber security in protecting against online scams.

The impact of cyber attacks on the hospitality and catering industry.

The challenges of securing online dating applications.

The implications of cyber attacks on the healthcare and wellness industry.

The role of cyber security in protecting against online bullying.

The impact of cyber attacks on the entertainment and events industry.

The challenges of securing online food delivery platforms.

The implications of cyber attacks on the fitness and wellness industry.

The role of cyber security in protecting against online fraud.

The impact of cyber attacks on the home services industry.

The challenges of securing online social networking platforms.

The implications of cyber attacks on the pet care industry.

The role of cyber security in protecting against online piracy.

The impact of cyber attacks on the restaurant industry.

The challenges of securing online fashion retail platforms.

The implications of cyber attacks on the healthcare and fitness industry.

The role of cyber security in protecting against online hate speech.

The impact of cyber attacks on the wedding and event planning industry.

The challenges of securing online grocery delivery platforms.

The implications of cyber attacks on the gaming and entertainment industry.

The impact of cyber attacks on the music and entertainment industry.

The challenges of securing online travel and tourism platforms.

The implications of cyber attacks on the beauty and wellness industry.

The role of cyber security in protecting against online identity theft.

The impact of cyber attacks on the fashion and retail industry.

The challenges of securing online health and wellness platforms.

The implications of cyber attacks on the food and beverage industry.

These essay topic ideas cover a broad range of industries and sectors, highlighting the pervasive nature of cyber security threats. Whether you choose to explore the implications of cyber attacks on a specific industry, examine the challenges of securing a particular platform, or discuss the ethical considerations of cyber security, there are endless possibilities for research and analysis in this field. Remember to choose a topic that interests you and aligns with your objectives, ensuring a rewarding and engaging essay-writing experience.

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An Overview of Cyber Crimes In Banking Sector

• Financial loss
• Infringement of confidential information
• Legal consequences
• Sabotage and theft to identifiable information
• Exposed to reputation risks
• Operational risks
• Easy access to data: Once a cyber attacker is able to gain access into a computer system, they may have access to personal data, including private financial documents from customers, which can be copied or transferred into a small removable device. Since information technology powers the operations of banks, individuals, corporations, government agencies, etc., the insecure storing of confidential data and information processed on their computers presents a serious danger.  
• User's Negligence: All the authorities who use computer systems should remain very careful and cautious in order to safeguard their confidential data and information stored in the computers. Through proper usage of Passwords and Personal Identification Numbers (PIN) they can limit the access. Any negligence on their part will facilitate cybercriminals' easy access to certain devices and records.[6]  
• Hacking Hacking is a cybercrime that involves a person gaining illegal access to a system or attempting to circumvent security mechanisms by hacking into customers' accounts or banking sites. ''A hacker, however, can be prosecuted under Sections 379 and 406[8], and also u/s 43(a) read with Section 66 of the Information Technology (Amendment) Act, 2008[9].'' If the crime of hacking is proven, the convicted may be sentenced to three years in prison or a fine of up to five lakh rupees, or both, under the IT Act.[10]  
• Key logging It is referred to as ''keystroke logging or keyboard capturing''. It is the process of secretly recording (logging) the keys pressed on a keyboard so that the person using it is oblivious that their activities are being tracked and these are incredibly harmful for stealing confidential information such as banking details etc.[11]  
• Viruses It is a kind of self � replicating program that infects executable code or documents by inserting copies of itself. A virus is a programme that afflicts an executable file and causes the file to behave abnormally after infection. It spreads by linking itself to executable files such as programme files and operating systems. Loading the executable file could result in new copies of the virus being created.[12] Worms, on the other hand, are programmes that can replicate themselves and send copies to other computers from the victim's computer. Worms do not change or remove any files; instead, they multiply and send copies to other computers from the user's computer.  
• Spyware Spyware is the most common approach of stealing online banking credentials and using them for fraudulent purposes. Spyware operates by collecting or transmitting information between computers and websites. It is mostly installed by bogus 'pop up' advertisements to have software downloaded.[13] Industry standard Antivirus products detects and removes this type of software, primarily by blocking the download and installation before it infects the PC.  
• Phishing Phishing is a kind of swindle in which private information such as Debit/Credit Card number Customer ID, IPIN, CVV number, Card expiry date, and so on is stolen via emails that seem to be from a genuine source. Phishing is accomplished through the use of instant messaging and email spoofing.[14] In this type of crime, hoaxers act like officials of banks and they create a direct link that directs the targeted customers to a fake page which looks alike to the actual bank website. The acquired confidential information is then used to commit deceitful transactions on the customer's account.[15] Phishers these days also use SMS (Smishing) and mobile (voice phishing) to commit such crimes.  
• Pharming Pharming is carried out through the internet. When a customer logs in to a bank's website, the attackers hijack the URL in such a way that they are routed to another website that is false but appears like the bank's original website.  
• ATM Skimming and Point of Sale Crimes Installing a skimming device atop the machine keypad to appear as a real keypad or a device made to be affixed to the card reader to appear as a part of the machine is a tactic for compromising ATM machines or POS systems. Malware that directly steals credit card data may also be installed on these devices. Skimmers that are successfully installed in ATM machines retrieve personal identification number (PIN) codes and card numbers, which are then copied to perform deceitful transactions.[16]  
• DNS Cache Poisoning DNS servers are used in a company's network to increase resolution response times by caching query results previously received.[17] Poisoning attacks on DNS servers are carried out by exploiting a flaw in DNS software. As a result, the server validates DNS responses mistakenly to ensure that they are from an authoritative source. Incorrect entries will be cached locally by the server and served to all users who make the same request. Bank customers could be routed to a server controlled by criminals, which could be used to serve malware or trick bank customers into providing their credentials to a spoof of a legitimate website. An attacker can hijack clients by spoofing an IP address; DNS entries for a bank website on a given DNS server and replacing them with the IP address of a server they control.  
• Malware based-attacks One of the most dangerous cyber threats to electronic banking services is malware-based attacks. A malicious code is created in such attacks. The number of malware attacks in the banking industry is on the rise these days. Zeus, Spyeye, Carbep, KINS, and Tinba, are some of the most well-known banking malware. Nearly every virus has two characteristics: one, it secures a backdoor entry into the system, and the other, it steals a user's credential information.
• Cosmos Bank Cyber Attack in Pune Cosmos Bank in Pune was the target of a recent cyber-attack in India in 2018, when hackers stole Rs. 94.42 crores from Cosmos Cooperative Bank Ltd situated in Pune, it rattled the entire banking industry in India. Hackers gained access to the bank's ATM server and stole the personal information of rupee debit cardholders and visas in large number. Money was wiped out, and hacker gangs from as many as 28 nations withdrew the funds as soon as they were notified.[19] It can be avoided by hardening surveillance measures and assisting approved individuals.  
• ATM System Hacked The ATM servers of Canara Bank was targeted in 2018 for cyber-attack. Twenty lakh rupees were cleared from numerous bank accounts. According to sources, cyber criminals had access to ATM information for more than 300 users, resulting in a overall 50 victims. Hackers used skimming machines to capture information from debit cardholders. Transactions involving stolen information varied in amount from Rs. 10,000 to Rs. 40,000. [20] It can be avoided if the protection mechanisms in ATMs can be improved to avoid data misuse.  
• RBI Phishing Scam The Reserve Bank of India was not spared by the fraudsters in a bold phishing attempt of its kind. The phishing email, which purported to come from the RBI, promised the recipient prize money of Rs.10 lakhs within 48 hours[21] if they clicked on a connection that took them to a website that looked exactly like the RBI's official website, complete with the same logo and web address. After that, the user is asked to disclose personal details such as his password, I-pin, and savings account number. The RBI, on the other hand, issued an alert about the fake phishing e-mail on its official website.  
• The Bank NSP Case In this particular case a bank management trainee was hitched to be married. Using the company's computers, the couple exchanged numerous emails. They had broken up their marriage after some time, and the young lady made some fake email ids, such as "Indian bar associations," and used them to send emails to the boy's international clients. She did this via banks computer. The boy's business lost a large amount of customers and went to court against the bank. The court decided and made the bank liable because the emails were sent using the banks system.[22]
• Every single employee should have their own user account, with a policy requiring password changes in every three months. Employees must not be allowed to download or install unauthorized software.
• All employees must be informed about the dangers of opening or uploading email attachments from unidentified sources. Educate personnel about the importance of not leaking or sharing sensitive information about the institute.
• The IT department of a bank must ensure that a firewall is enabled on every workstation and Internet-connected device in the organization because firewall blocks all communication from unauthorized sources.
• Banks must use 'two-factor authentication (2FA)' apps or physical security keys and, wherever possible, enable 2FA on all online accounts.
• The Department would make sure that all PCs' operating systems receive regular security updates.
• To find out if there is any ransomware or malicious software on the network, anti-spyware and anti-virus software must be installed on all PCs. All passwords and wireless networks must be kept secured and well-protected.
• Banks must employ verification methods such as dynamic device authentication and web-based transaction verification as more consumers use mobile devices.
• Customers must receive notifications and automated messages from their banks confirming the validity of their transactions.
• Customers must be given instructions on how to verify the legitimacy of any sources that are asking information of personal accounts. Customers must also be given instructions on how to stay safe when using the bank's websites.
• When using banking application or internet banking, use a secure network.
• Joseph Johnson, Worldwide digital population as of January 2021 (Statista, 7 Apr 2021) accessed 3 March 2021
• A.R. Raghavan and Latha Parthiban, The Effect of Cybercrime on a Bank's Finances (2014) 2(2) International Journal Current Research Academic Review 173-178.
• Harshita Singh Rao, Cyber Crime in Banking Sector (2019) 7(1) International Journal of Research � Granthaalayah 148-161 accessed 5 March 2021.
• Effects of Cyber Crime accessed 3 March 2021.
• Kate Brush, Cybercrime (Search Security) accessed 4 March 2021.
• Indian Penal Code 1860, s 379 & 406.
• Information Technology (Amendment) Act 2008, s 43(a) r/w s 66.
• Seema Goel, Cyber-Crime: A Growing Threat To Indian Banking Sector [2016] ICRISTME.
• Stay Safe from these Credit Card Frauds (Axis Bank, 1 January 2021)< https://www.axisbank.com/progress-with-us/managing-credit/what-are-the-types-of-credit-card-frauds-in-india#:~:text=Steps%20to%20take%20if%20card%20is%20stolen%3A&text=Immediately%20block%20your%20card%20using,%2Dliability'%20for%20fraudulent%20transactions> accessed 7 March 2021.
• Vivek Kumar Verma, Phishing (Indian Case Law, 16 July 2014) < https://indiancaselaw.in/phishing/> accessed 7 March 2021.
• Animesh Sarmah, Roshmi Sarmah , Amlan Jyoti Baruah, A brief study on Cyber Crime and Cyber Laws of India (2017) 4(6) IRJET 1634.
• Robert Siciliano, ATM Skimming and How to Protect Yourself(The Balance, 9 August 2020) < https://www.thebalance.com/what-is-atm-skimming-1947475> accessed 7 March 2021.
• What are DNS Spoofing, DNS Hijacking, and DNS Cache Poisoning (Infoblox) < https://www.infoblox.com/dns-security-resource-center/what-are-dns-spoofing-dns-hijacking-dns-cache-poisoning/> accessed 8 March 2021.
• Express News Service, Cosmos Bank Malware Attack: Interpol Issues Red Corner Notice Against Prime Suspect Traced in Foreign Country Indian Express (Pune, 29 August 2020) < https://indianexpress.com/article/cities/pune/cosmos-bank-malware-attack-interpol-issues-red-corner-notice-against-prime-suspect-traced-in-foreign-country-6574097/> accessed 12 March 2021.
• Ranjitha S, 4 Biggest Cyber Security Threats for Indian Banking Sector (Great Learning, 24 March 2021) < https://www.mygreatlearning.com/blog/biggest-cyber-security-threats-indian-banking-sector/#:~:text=Canara%20Bank%20ATM%20servers%20were,rupees%20from%20various%20bank%20accounts.> accessed 12 March 2021.
• Animesh Sarmah, Roshmi Sarmah, Amlan Jyoti Baruah, A brief study on Cyber Crime and Cyber Laws of India (2017) 4(6) IRJET 1636.
• Harshita Singh Rao, Cyber Crime in Banking Sector (2019) 7(1) International Journal of Research � Granthaalayah 158 accessed 11 March 2021.
• How the Banking Sector Can Combat Cyber Attacks: A Checklist (Byte Academy, 6 August 2020) < https://www.byteacademy.co/blog/banking-cyber-security> accessed 10 March 2021.
• Himanshi Lodha and
• Divya Mehta

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• Cyber Crime Essay

Essay on Cyber Crime

Cyber crime is the most discussed issue of the 21st century. The technology sector world wide is witnessing  a boom in the consumer of smartphones and the internet which is raising concerns with regard to the privacy and security of the users. Owing to this reason, it is highly essential for all the users to know about cyber crime  & security.  As a result, thi topic has become the most favorite topic of the examiner and can often be seen asked in the exams.  In this view, students must have information on cyber crime and stay prepared to tackle such topics in the essay question in the English paper.

Introduction

Cybercrime is a dangerous attack a company or an individual may face. There are many cases where the cyber attack has brought massive loss to the company and individuals due to the data hack. We live in a technology-driven era, and every piece of information is now fed on computers. Cybercrime involves an attack on computers and digital devices. These cyber-attacks can prove hazardous not just for the organization, but also for the nation. To date, there are many digital attack cases in India and global, pushing for more security measures. These attacks are also affecting the economy of the country if not controlled in the initial stage.

What is Cybercrime?

Cybercrime or attack is defined as the systematic criminal activity occurring digitally

and done by attackers. There are many examples of cybercrime, including fraud,

malware viruses, cyberstalking and others. Due to these, government agencies and

companies are investing more in the maintenance and hiring of cybercrime experts. 

Earlier, cybercrime was committed only by individuals or by small groups. However, now a highly complex cybercriminals network work on attacking the system for data

collection.

Three groups of cybercrimes-

This is the form of cyberstalking, trafficking, and grooming. Over the years, this

This type of cybercrime has been taken seriously by law enforcement agencies. It is

now keeping a track over every such attack on an individual.

Similar to the real world where criminals steal the property, in the cyber world,

attackers steal data. Here, the attacker steals a person's bank details and

misuse the credit card for online purchase. By using malicious software, the

attacker attacks the property to disrupt the system of the organization.

These types of crimes are denoted as cyber terrorism. This can be a terror because

the attacker can get hold of essential documents related to government

projects. An enemy nation or terrorist usually makes such attacks. There are

many cases globally where a terrorist hacks government data.

Apart from these, there is a financial crime where the hacker steals the money of the

user account holder. Moreover, they steal company data and finance.

In this type, the computer system of the person is hacked to get personal

information. In many countries, including India, hacking is a punishable act.

It is quite different from ethical hacking. In normal hacking, illegal use

different types of software to enter the system of the target person. Hacker is

then able to monitor every activity done by the person.

This Cybercrime is about violating copyright and downloading music or movies. In

India, many movies before their releases are leaked on the movie download

sites. In other words , theft is also called privacy, which can bring a huge

loss to the organization.

Cyber Stalking

It is online harassment by an individual or a group of people. Normally, these

stalkers target an individual and harass online. There are many cases of

cyberstalking in India, resulting in the target person ending up taking

Malicious Software

These are computer-based cybercrimes where virus-based software is installed in the

target people or organization computers. This is to damage the system and

corrupt the data of the target.

Laws Related to Cybercrime

In India, there are many cybercrime laws enacted to stop this threat. Be it for

the individual or the organization; these laws help to either bring down the

number of cases or eliminate these digital crimes.

Apart from these laws, as an individual, you also need to take steps to stop these

crimes. Like, not providing your login details, installing trust anti-virus

software and keeping your online profile private can help to act against such

Cybercrime is a significant threat that can bring huge loss to the individual and the

organization. It is essential to follow basic online rules to ensure the safety

of self and the organization.

Benefits of Cyber Crime Essay in English provided by Vedantu

The essay on cybercrime provided by Vedantu is prepared by highly qualified teachers which makes it a reliable source of information. This information could be utilized for a variety of reasons. Being a reliable piece of information the essay will benefit everyone curious to know about the topic.

Following are the highlights of its benefits:

Reliable information 

Adaptive to the context 

Precise language

Fulfills the requirements of the students for english exam questions 

Comprehensive and analytical. The  article digs in the depth of the issue and analyzes it through a 360 degree perspective.

The essay could also be used by the students for preparing themselves for the essay question in the English paper. This essay is an excellent guide to understand what the examiner is looking for in the exam. Moreover, the topic of cybercrime is quite a recurrent one in the exam. So the students use this essay to deal with the same topic.

The Essay on Cyber Crime is an excellent guide on averting any possibilities of a cyber attack. On today's date, one is mostly on the internet for a variety of reasons. It becomes essential for one to know important tips that can keep one safe from cyberbullies, thieves, or blackmailers. It is also important for one to understand the right course of actions to be taken in an eventuality of such an incident.

Download the cybercrime essay for students in English on the Vedantu website.

FAQs on Cyber Crime Essay

1. How Does Cybercrime Work?

Group of people or an individual commits most of these cyber-crimes. These criminals use a systematic process to hack and commit these acts. These criminal communities share strategies and tools to launch attacks. Some of the cybercrime techniques

Fast Flux - In this method, the hacker moves data quickly among computers in a botnet, making it challenging to find the right source.

Social Engineering - This method includes using lies and manipulation to trick people into revealing their personal information.

Skimmers - This involves installing a skimming tool in an ATM and stealing the information. You may find such skimming devices in ATMs.

There are some digital criminals targeting organizations to steal personal information.

2. How Cybercrime Affects Society?

Cybercrime can hugely affect society. In 2018, the US faced a loss of $600 billion. As consumers are increasingly allowing technologies to get into their lives, cyber attackers are getting better access. Some of the essential information available are-

Personal health data, sleep schedules, and geo-locations Shopping history, account information, and passive conversations noticed voice-controlled devices, Private conversations on social media accounts.

Your entire life is now available on social media, making it vulnerable to hack or cyber-attack. Attackers use different techniques including- installing malware, virus, phishing, cyberstalking, etc. These can certainly bring loss of lives and data for individuals and organizations. For society, this is a significant loss in the long run.  One needs to be very careful when presenting himself socially.

3. How to stay secure in times of cybercrime?

Cybercrime is a real threat posing to society. It is the 21st-century version of theft and blackmailing. There are certain ways one should adopt to prevent any possibilities of cybercrime. Do not disclose the banking details to random people or fill the CVV of your debit or credit cards on an unknown and unverified website. Keep your passwords always discrete. The camera of the laptop should always be covered.

4. Where can I get a cybercrime essay?

One can find a good quality cyber crime essay on Vedantu's website. The essay which is prepared by the expert teachers describes everything that one needs to know about cybercrime. It is the one-stop solution for all your requirements on the topic. Their essay is available in PDF format on the website and could be downloaded on any device. One downloaded essay could be used in offline mode too. If one finds it feasible, the printout of the PDF could also be taken out.

Banking Sector Cyber Wars and International Hacking Essay

Introduction, cyber war and hacking in organizations, hacking in mainstream media, hacking and terrorism, incidents prompting cyber wars, reacting to cyber war, buzzwords and background searches in cyber crime, hacking and educated opinion, works cited.

Hacking refers to deliberate actions to interfere with computer systems. The act mainly happens over computer networks. Flaws in the network allow hackers to access the systems. Knowledge on hacking can be both advantageous and disadvantageous to a firm. Advantages associated with the practice include improvement of security in computerized systems. Today, many learning institutions are offering courses in this discipline, especially for students pursuing degrees in Information Technology. The knowledge would be of great use in future in preventing cyber crimes by identifying loopholes that would leave a system vulnerable to attacks (Timberg, Nakashima and Douglas-Gabriel 12). However, the skills can be dangerous and costly to victims. Hackers have in the past used their expertise to commit fraudulent activities, such as access to valuable information. They manipulate this information to gain control of systems. The individuals have also been used in times of warfare to conduct terrorist activities. Most of them engage in the activity for self amusement. In addition, some of them have not even studied related courses, which make it difficult for prosecutors to prove their guilt during a trial.

The paper seeks to address the issue of cyber warfare and hacking. More emphasis is placed on the banking industry. The paper addresses cyber warfare and hacking at the international level. Some of the areas addressed by the author include hacking of both small and multinational organizations, the link between cyber war and terrorism, as well as buzzwords and background information with regards to unauthorized access to computer systems.

Traditionally, most hackers target computer systems and networks. However, telecommunication companies offering services to mobile phone users have also become a target for these individuals (Perlroth 9). The introduction of smart phones is seen as a major contributing factor to this emerging trend. The fact that these phones use a computerized system makes them as vulnerable as a computer network in relation to hackers. Most of these practitioners target the network. A large number of telecommunication firms are often not aware of the risk they face from the criminals. As such, they are often ill prepared when the hackers attack. The hackers are often anonymous and carry out their activities stealthily (Timberg et al. 12). In most cases, they use malwares to allow them access to information and networks. Foreman Seeley Fountain Architecture is one of the latest victims of such activities. The mobile network company lost $166,000 worth of calls within a single weekend (Perlroth 9).

Such kind of vulnerability also exposes customers to risk of losing their money. With increased adoption of mobile banking and money transfer, stakeholders in the sector need to be extra vigilant through the constant monitoring of their systems in order to detect suspicious activities. In developing countries where the online banking system has not fully taken route as a result of resource shortages, mobile banking is common. People are able to send and receive money through the mobile network. The same telecommunication companies also provide customers with credit services. Vulnerability of their systems would tarnish their reputations, a situation that would lead to loss of customers (Perlroth 9). For this reason, most of these companies often opt to remain silent even after they have incurred huge losses owing to hacking.

International hacking has become common among teenagers. However, most of these individuals leave tracks behind. As a result, they are apprehended for their actions. In efforts to reduce hacking in the country, a number of police units have been formed. The administration cells deal exclusively with cyber wars. In some cases, these forms of crimes may be a result of terrorism. Other people engage in it just for fun and out of their love for computer programming. The major source of concern to security organs around the world is any form of illegal hacking (Tara 5).

A look at some recent articles in the media reveals substantial factual information about the issue of cyber crime. For example, an article published in The New York Times in October 2014 addresses the issue of hacking perpetrated against JPMorgan Chase (Silver-Greenberg, Goldstein and Perlroth 4). The attack is deemed as one of the biggest cases of cyber crime to have ever been discovered. In this instance, information about 76 million household accounts and 7 million sets of financial records belonging to small businesses were compromised (Silver-Greenberg et al. 2).

In today’s world, banks have become favorite targets for hackers. The story of JPMorgan is an indication of this development. Financial information, social security numbers, and other forms of sensitive data are believed to have been tapped into by criminal elements. An attack of this magnitude compromises every activity in the organization. The hackers at JPMorgan had also obtained access to applications running in most of the computers. Jamie Dimon, the Chief Executive and chairman of the bank, said investigators had made progress in their efforts to determine the source of the crime (Silver-Greenberg et al. 2).

The frequency of cyber attacks is rising by the day. In 2011, a journal article stated that a Russian hacking group had breached the security systems at NASDAQ. However, there was no evidence of any information taken away by this gang (Glazer and Yadron 1).

According to The Wall Street Journal , JPMorgan is just one of the many entities that have suffered similar attacks (Glazer and Yadron 1). For example, in September 2014, the security system at Home Depot Inc. was compromised. Other victims include Adobe Systems and Target Corps. In the same journal, it is indicated that Microsoft’s Xbox was penetrated by criminal elements. Unlike in JPMorgan’s case, the hacker accessed information that was enough to build a counterfeit Xbox One gaming console. He used the proceeds from the console’s sale to pay for his university tuition fee.

Apple is one of the bestselling computer brands in the world. A flaw has been reported in one of its systems. Apparently, hackers were able to create a virus that is sent to a host network. Once the malware is active in the target computer, it gives the hacker remote access to the machine through a complex communication system. More than 17,000 Macs have been affected worldwide, with 12000 cases reported in Britain alone (Glazer and Yadron 1).

It is a fact that most elements of human existence in the modern world are computerized. As a result, hackers find it easy to carry out their crimes. Today, some terrorists use the help of hackers to attack other countries. The relationship between the two elements has elicited debates on whether or not hacking is terrorism. There are small scale criminals who are interested in stealing some little amount of money. Another group is made up of organized hackers. They target large corporations to access their data. In some cases, they are engaged in economic espionage (Goldstein, Perlroth and Sanger 5). People hold different views about hackers. There are those who rank cyber war as less dangerous compared to a nuclear attack. Organized hackers call themselves ‘anonymous’ at times. The ones involved in terrorism are recruited and trained to work for the terror groups. In some cases, they are forced to offer their services to the terrorists.

Due to the damages that these activities can cause, governments around the world are trying to eliminate illegal hacking. In America, a law has been passed to help in this. Anyone proved guilty of the crime is liable to ten years imprisonment. In other countries like Britain, the sentence may be life imprisonment. As a result, many people are discouraged from engaging in these crimes. However, in some instances, hackers use technology that is more advanced than that used by the law enforcers (Tara 2).

The main aim of hacking is to gain access to computer and mobile networks. The driving force behind this is often self amusement and criminal behavior. The information gained puts the hacker in control of the system. As such, they acquire administrative power over the network. In most cases, hackers are able to complete their activities undetected (Perlroth 9). In the banking sector, hacking can result to loss of valuable financial data. The hackers can also manipulate the data at their disposal to make unauthorized transactions. Their activities hurt both the companies that they target and their customers.

Most persons who engage in hacking also have interests in computer networks. Most of them spend a considerable amount of time around computers and are fond of trying new things (Timberg et al. 12). Some of these individuals may even lack any form of formal leaning on hacking. Terrorism is also a major motivating factor behind some of the hacking activities. The activity can be used as an act of war by targeting vital information systems and obtaining information on financial systems used in a country.

Some issues about hacking remain sketchy. Critics wonder why government agencies fail to recruit talented hackers to help curb this crime. In the case of JPMorgan, it is unclear how the criminals got so far and deep into the system. It is possible that someone from the inside helped them. The Wall Street Journal theorizes how the criminals may have penetrated the network. It is believed that they used a personal computer of one of the members of staff. The workers were urged to improve defense on their end. Such measures included logging off their work stations and using passwords that are hard to crack (Tara 4). Another unclear issue with regards to JPMorgan’s attack is whether any money was stolen or not. The bank is still contacting its customers to confirm if any funds were tapped into (Tara 4).

Cases of high jacking of mobile networks by hackers have been common over the past years. The perpetrators of the crime are often handed short sentences, whereas their activities have devastating effects on the financial status of their victims. The law enforcers should be well equipped to detect and deter such activities before they occur. In most cases, high profile hacking activities are carried out by internal criminals who are difficult to trace once they have accomplished their mission (Perlroth 9).

It is important to understand that banks are vulnerable to attacks due to the financial and personal information they hold. As a result, they have to invest a lot of resources on security (Silver-Greenberg et al. 4). In spite of these security lapses, it is better for the public to entrust the financial institutions with their vital information rather than hold it in their personal computers.

One may have skills on computer security, but their capabilities and resources cannot compare to those of a bank. It is also important to note that cyber crime is taken seriously by the government. Tampering with the system of another party has dire consequences on the offending party.

Just like in any other profession, there are a number of keywords used in cyber war. A buzzword is similar to a technical jargon. One such word is malware. It is a malicious computer code used to corrupt or override the target system. The attackers of JPMorgan are believed to have used malware to penetrate into the bank’s system. Information can be termed as the background of any form of cyber attack. The situation has extended to smartphones. Phones are getting infected through applications downloaded from the internet. One single mistake of installing an application from unknown developers can compromise the security of the handset (Wood 4). Some hackers use this information to extort money from other people. Once the cell phone is hacked, the criminal can lock it and withhold the information inside. They may demand a ransom to unlock it.

In the 21 st century, the internet has turned to be a basic need. It is used in reading and sending e-mails, connecting on social media, and such other applications. Each day, people upload personal information on the internet. Hackers can retrieve such information and use it against the individuals. The introduction of smartphones has made it possible to store data in a cell phone. However, these devices are easier to hack into compared to computers (Wood 8). As such, some people prefer to store their information in safer locations, such as banks. The financial institutions have complex security options that are not easy to break into. However, organized hacking groups are using advanced technology to gain access to these networks. It is up to these banks to ensure that they use updated innovations to secure their systems.

Not all forms of hacking are considered to be illegal. However, there are certain lines that should not be crossed. Hacking activities should not cause harmful effects to another party. Today, many governments advocate for inclusion of a course on hacking to help people gain awareness on the vulnerabilities that may exist in computer networks. Businesses offering banking service should hire the services of such individuals for them to be in a better position to combat crime (Perlroth 9).

Banks have become soft targets for cyber attacks and international hacking. First, people entrust their important information, such as social security numbers, with these financial entities. Another reason is that the institutions deal with money. Some hackers may fear tampering with the security system of large organizations for fear of repercussions. However, there are those who focus solely on the illegal acquisition of information regardless of the resulting consequences. When sensitive data gets into the wrong hands, it can be used to hijack the economy. As such, banks should do their best to ensure that this does not happen to their customers. The government has played its part by declaring that cyber attacks are federal crimes. The minimum sentence is ten years, while the maximum is life imprisonment. Individuals should also be careful of what they store on the web. In addition, they should keep track of their financial accounts.

Glazer, Emily, and Danny Yadron. “ J.P. Morgan Says About 76 Million Households Affected By Cyber Breach ”. WallStreetJournal. 2014. Web.

Goldstein, Matthew, Nicole Perlroth, and David Sanger. “ Hackers’ Attack Cracked 10 Financial Firms in Major Assault ”. NYTimes. 2014. Web.

Perlroth, Nicole. “ Phone Hackers Dial and Redial to Steal Billions ”. NYTimes. 2014. Web.

Silver-Greenberg, Jessica, Matthew Goldstein and Nicole Perlroth. “JPMorgan Chase Hacking Affects 76 Million Households”. NYTimes. 2014. Web.

Tara, Siegel. “ Ways to Protect Yourself after the JPMorgan Hacking ”. NYTimes. 2014. Web.

Timberg, Craig, Ellen Nakashima, and Danielle Douglas-Gabriel. “ Cyberattacks Trigger Talk of ‘Hacking Back’ ”. WashingtonPost. 2014. Web.

Wood, Molly. “ Mobile Malware: Small Numbers, but Growing ”. NYTimes. 2014. Web.

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IvyPanda. (2024, March 7). Banking Sector Cyber Wars and International Hacking. https://ivypanda.com/essays/banking-sector-cyber-wars-and-international-hacking/

"Banking Sector Cyber Wars and International Hacking." IvyPanda , 7 Mar. 2024, ivypanda.com/essays/banking-sector-cyber-wars-and-international-hacking/.

IvyPanda . (2024) 'Banking Sector Cyber Wars and International Hacking'. 7 March.

IvyPanda . 2024. "Banking Sector Cyber Wars and International Hacking." March 7, 2024. https://ivypanda.com/essays/banking-sector-cyber-wars-and-international-hacking/.

1. IvyPanda . "Banking Sector Cyber Wars and International Hacking." March 7, 2024. https://ivypanda.com/essays/banking-sector-cyber-wars-and-international-hacking/.

Bibliography

IvyPanda . "Banking Sector Cyber Wars and International Hacking." March 7, 2024. https://ivypanda.com/essays/banking-sector-cyber-wars-and-international-hacking/.

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Cyber Crime Essay for Students and Children

500+ words essay on cyber crime.

Cyber Crime Essay – Everybody thinks that only stealing someone’s private data is Cyber Crime. But in defining terms we can say that ‘Cyber Crime refers to the use of an electronic device (computer, laptop, etc.) for stealing someone’s data or trying to harm them using a computer.

Besides, it is an illegal activity that involves a series of issues ranging from theft to using your system or IP address as a tool for committing a crime.

Types of Cyber Crime

Speaking in a broadway we can say that Cyber Crime are categorized into four major types. These are Financial, Privacy, Hacking, and Cyber Terrorism.

The financial crime they steal the money of user or account holders. Likewise, they also stole data of companies which can lead to financial crimes. Also, transactions are heavily risked because of them. Every year hackers stole lakhs and crores of rupees of businessmen and government.

Privacy crime includes stealing your private data which you do not want to share with the world. Moreover, due to it, the people suffer a lot and some even commit suicide because of their data’s misuse.

In, hacking they intentional deface a website to cause damage or loss to the public or owner. Apart from that, they destroy or make changes in the existing websites to diminish its value.

Modern-day terrorism has grown way beyond what it was 10-20 years ago. But cyber terrorism is not just related to terrorists or terrorist organizations. But to threat some person or property to the level of creating fear is also Cyber Terrorism.

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Cyber Crime in India

Web world or cyberspace is a massive community of millions and billions of users and websites. Also, people access it for different uses like shopping, movies, music, video games, transactions, and e-commerce, etc.

In this Age of Technology and easy access to the internet, anyone can easily reach it. Because of this fast pace growth from the previous decade. Besides, the internet has opened a world of information on which anyone can connect.

Due to, this the rate of crime especially the rate of Cyber Crime has increased much fold. Moreover, the rate of circulation of data is also increased much fold due to the higher speed of internet. Above all, due to all these issues, the Cybersecurity has become a major concern for society.

Laws related to Cyber Crimes

To stop the spread of Cyber Crime and to safeguard the interest of people the government has made several laws related to Cyber Crimes. Also, these laws serve as protection against Cyber Crime. Apart from that, the government has also introduced cyber cells in police stations to counter the problem of Cyber Crime as fast as they can.

Ways of stopping Cyber Crime

Cyber Crime is not something which we cannot deal with our self. Likewise, with little use of our common sense and logic, we can stop Cyber Crimes from happening.

To conclude, we can say that Cyber Crime is a dangerous offense to someone’s privacy or any material. Also, we can avoid Cyber Crime by following some basic logical things and using our common sense. Above all, Cyber Crime is a violation of not only law but of human rights too.

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Essay on Cyber Security

Students are often asked to write an essay on Cyber Security in their schools and colleges. And if you’re also looking for the same, we have created 100-word, 250-word, and 500-word essays on the topic.

Let’s take a look…

100 Words Essay on Cyber Security

Understanding cyber security.

Cyber security is about protecting computers, servers, mobile devices, electronic systems, networks, and data from digital attacks. It’s a critical area as our daily life, economic vitality, and national security rely on a stable, safe, and resilient cyberspace.

The Importance of Cyber Security

Cyber security is important because it helps protect sensitive information, like our personal data and banking details, from being stolen by hackers. It also safeguards against harmful viruses that can damage our devices.

Types of Cyber Threats

Common threats include malware, phishing, and ransomware. Malware is harmful software, phishing tricks people into revealing sensitive information, and ransomware locks users out until they pay a ransom.

Cyber Security Practices

Good practices include using strong passwords, regularly updating software, and not clicking on suspicious links. These can help protect us from cyber threats.

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• Paragraph on Cyber Security
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250 Words Essay on Cyber Security

Introduction to cyber security.

Cybersecurity, a term that has gained paramount importance in the digital age, refers to the practice of protecting internet-connected systems, including hardware, software, and data, from digital attacks. Its significance is amplified by the increasing reliance on technology, which, while offering numerous benefits, also opens up new avenues for potential threats.

The digital landscape is a double-edged sword. On one hand, it facilitates communication, commerce, and innovation. On the other, it provides a fertile ground for cybercriminals to exploit vulnerabilities. Cybersecurity thus becomes crucial in safeguarding sensitive information, preventing unauthorized access, and maintaining system integrity.

Challenges in Cyber Security

However, the complexity and sophistication of cyber threats are growing at an alarming pace. Cybercriminals are using advanced techniques, such as AI and machine learning, to bypass traditional security measures. This necessitates the development of more robust, adaptive cybersecurity strategies.

The Future of Cyber Security

The future of cybersecurity lies in proactive defense mechanisms. By leveraging technologies like AI, predictive analytics, and blockchain, we can anticipate and neutralize threats before they cause harm. Furthermore, fostering a culture of cybersecurity awareness is equally important to empower individuals and organizations against cyber threats.

In conclusion, cybersecurity is a vital aspect of our digital existence. Its importance, challenges, and future prospects underline the need for continuous research, development, and education in this field. As the digital landscape evolves, so too must our approach to cybersecurity.

500 Words Essay on Cyber Security

Cyber security, also known as information technology security, focuses on protecting computers, networks, programs, and data from unintended or unauthorized access, damage, or destruction. In the digital era, the importance of cyber security is growing exponentially due to the increasing reliance on computer systems, the internet, and wireless network standards such as Bluetooth and Wi-Fi, and due to the growth of smart devices like smartphones and televisions.

The significance of robust cyber security measures cannot be understated. Cyber attacks can lead to serious consequences like identity theft, extortion attempts, deletion of important data, and even the disruption of normal business operations. In more extreme cases, they can lead to the compromise of national security. Hence, cyber security is not just a concern for businesses or governments, but it is a potential threat to all internet users.

Cyber threats can be broadly divided into three categories: Cybercrime includes single actors or groups targeting systems for financial gain or to cause disruption; Cyber-attack often involves politically motivated information gathering; and Cyberterrorism is intended to undermine electronic systems to cause panic or fear. Examples of these threats are malware, phishing, ransomware, and social engineering.

Cyber Security Measures

In response to these threats, several cyber security measures are being employed. These include firewalls, intrusion detection systems, anti-virus software, and encryption. Furthermore, organizations are increasingly recognizing the importance of information assurance, where data integrity, confidentiality, and availability are assured.

As technology evolves, so does the complexity and sophistication of cyber threats. Hence, the future of cyber security lies in constant evolution and adaptation. Artificial Intelligence (AI) and Machine Learning (ML) are becoming integral in combating cyber threats. These technologies can learn and adapt to new threats, making them more efficient than traditional security measures.

In conclusion, cyber security is a crucial aspect of our digital lives, and its importance will only increase with time. To ensure a secure digital environment, individuals, organizations, and governments must understand the potential threats and employ robust security measures to counter them. The future of cyber security is promising, with the advent of AI and ML, but the road ahead is challenging, requiring constant vigilance and adaptation to new threats.

That’s it! I hope the essay helped you.

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