Overview
This lecture discusses the prevalence, types, and impact of cyber crime in the U.S., along with prevention tips and victim resources.
Cyber Crime Overview
- Cyber crime is any crime facilitated by the use of the internet.
- Examples include email scams, data breaches, and fraudulent online transactions.
- Cyber crime leads to billions of dollars in losses yearly, with $2.7 billion lost in one year alone (2018).
Trends and Common Targets
- The financial impact of cyber crimes is increasing, especially through business email compromise.
- Both individuals and businesses are targeted, with the elderly being the fastest-growing and most impacted victim group.
- Elderly victims in Arizona experience the highest losses.
Reporting and Response
- Immediate action is crucial if you become a cyber crime victim; contact your financial institution first.
- Victims should also report incidents to local, state, or federal law enforcement and to ic3.gov (FBI’s online cyber crime reporting).
- Collect and preserve all identifying information related to the crime: emails, phone numbers, transaction details, and any suspicious details.
Common Types of Cyber Crime Cases
- Data breaches involving stolen personal or financial information are frequent.
- Extortion via email, often demanding payment in bitcoin or gift cards, is on the rise.
- Nonpayment or nondelivery scams involve scammers taking money without delivering promised goods or services.
Prevention Tips
- Use common sense and be cautious when dealing with urgent online requests.
- Taking extra time before responding to suspicious messages can prevent financial loss.
Key Terms & Definitions
- Cyber Crime — Any crime facilitated by the use of the internet.
- Business Email Compromise — Scams targeting companies via fraudulent emails to steal money.
- Data Breach — Unauthorized access to and theft of personal or financial data.
- Extortion — Threatening to release private information unless a ransom is paid.
- ic3.gov — FBI’s website for reporting cyber crimes.
Action Items / Next Steps
- Report suspected cyber crimes to your financial institution and to ic3.gov.
- Record and keep all relevant details about the incident for investigation.
- Practice caution and avoid rushing decisions when dealing with online transactions.