1. Loss of Revenue : One of the main consequences of cyber crime on a company is a loss of revenue/income. This loss may be caused by an outside person who acquires sensitive financial information, using it to extract funds from an organization. It can also come about when a business's e-commerce site becomes compromised--while terminal, expensive income is lost when consumers are unable to utilize the site. 2. Wasted Time : Another major consequence of cyber crime is the time that is wasted when Information Technology personnel must dedicate maximum part of their day handling such incidences. Rather than working on productive and creative measures for an organization, many Information
3. Damaged Reputations : In situations where customer records are compromised by a security contravene associated with cyber crime, a company's reputation can take a major batter. Customers whose credit cards or other monetary data become grabbed by hackers or other infiltrators drop assurance in an organization and often begin taking their business elsewhere. 4. Reduced Productivity : Due to the safety measures that many companies must implement to neutralize cyber crime, there is often a pessimistic effect on employees' efficiency. This is because, due to many security reasons, employees must enter more passwords and execute other time-consuming acts in order to do their jobs. Every second wasted executing these acts is a second not spent working in a effective manner.
5. Influence of Cyber Terrorism : Cyber-terrorism can have a serious large-scale influence on significant numbers of people. It can weaken countries' economy greatly, thereby stripping their of its resources and making it more vulnerable to military attack. Cyber-terror also affect internet-based businesses. Like brick and mortar retailers and service providers, most websites that produce income (whether by advertising, monetary exchange for goods or paid services) could stand to lose money in the event of downtime created by cyber criminals. As internet-businesses have increasing economic importance to countries, what is normally cybercrime becomes more political and therefore "terror" related. 6. Impact on Government and Society : Cyber crime has been increasing its convolution and financial expenses since corporations have began to use computers in the course of doing business. As technology increases between governments that are caught up in international business, criminals have realized that this is a cost efficient method of making money. This investigation and testing manual is meant to provide as a basic model on the lessons learned to set up governments, and their prosecutors, for combating cyber crime.To research deeplyinto computer technology requires both long learning and technical expertise. Therefore, as in most of the crimes that are technological in nature, or have technical aspects to them, such as bank hoax or murder investigations that necessitate the analysis of blood and spatter techniques, gun-shots that require extensive ballistics investigation, experts are advisable for use as an aid in directing your investigations, to act as a special aide in preparing for trial, and as an expert to testify in that trial. However, experts are not absolutely required, principally in identifying basic components that make up a cyber crime, and on how to show the elements of that case. All of us know that computer crimes can run from the simple to the mega sophisticated. This does not mean they are not solvable, and understandable to the judiciary throughout any trial. The complication in these crimes should not be feared. All that is required is for you to comprehend the basic concepts explained in this manual, follow its simple set of laws and use the facts you have acquired. You will then be able to effectively investigate, organize and put on any case.
What are the causes and effects of cyber crime?Cybercriminals always opt for an easy way to make big money. They target rich people or rich organizations like banks, casinos, and financial firms where a huge amount of money flows daily and hack sensitive information. Catching such criminals is difficult.
What are the effects of cybercrime to individuals and businesses?Reputational damage
Cyber attacks can damage your business' reputation and erode the trust your customers have for you. This, in turn, could potentially lead to: loss of customers. loss of sales.
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