Definition: Criminal activity using the internet, such as stealing intellectual property, seizing online bank accounts, spreading viruses, posting confidential materials online, and disrupting computing services.

Key Points

• Global cybercrime is rising, costing nations millions of dollars annually.

• The average cost of cybercrime to large companies is $7.7 million per year.

• Financial services, utility, and energy companies experience more cybercrime than health care and agriculture.

• The highest total average cost of cybercrime is in the USA ($15 million), and the lowest is in Russia ($2.37 million).

• More areas of life becoming digitized increases the risk of cybercrime.

Real-world example: In 2016, major companies such as Twitter and Paypal were attacked by a "botnet", disabling the internet and affecting several websites like the New York Times and CNN.

Definition: A major threat to internet users where unauthorized access to a system or network is gained, often with malicious intent.

Key Points

• Hacking can target individuals up to national governments and TNCs (Transnational Corporations).

• Attacks can come from a variety of sources, such as seemingly harmless PDFs or JPEGs.

Real-world example: Dyn, a US company that operates internet traffic, was a victim of one of the largest internet attacks, disabling numerous high-profile websites.

Definition: A crime in which an imposter obtains key pieces of personal information to impersonate someone else.

Key Points

• Identity theft is one of the fastest-growing white-collar crimes in the USA.

• Certain groups, like university students, military personnel, and medical patients, are more at risk.

• Identity theft rates are expected to rise due to an increase in databases and lenient sentencing.

Real-world example: The increase in identity theft in 2006 is believed to have been triggered by the chaos after Hurricane Katrina.