Crime doesn’t pay – unless, of course, it’s cybercrime

Then crime pays quite well, as criminal enterprise conducted over the internet makes billions. McAfee estimates that annually, cybercrime costs the global economy more than 445 billion dollars, the stat including security costs for companies and criminal financial gains.

We know that cybercrime is certainly a large industry, yet how exactly do hackers and cyber criminals make millions in the digital world of the internet?

Perhaps the most significant and influential cybercrimes are large, digital data heists with millions of victims worldwide.  These heists, also known as data breaches, are where hackers manage to break into company servers and steal confidential information. Most of the time, the information stolen is the personal information of customers. This can be anything from customer emails, account information, credit card numbers and even medical records. This personal information can be sold on the black market and used for anything from fraud to identity theft.

In fact, in 2014, 47% of American’s had personal information exposed in some sort of data breach. So even if you personally take security seriously, there is not much you can do to protect your information when it is leaked from a company with whom you have trusted your information.


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