Can We Prevent Cyber-Crimes?

Erik Wennerstr?m, the Director-General, National Council for Crime Prevention, Stockholm, Sweden participates in “Risk Roundup with Jayshree Pandya” to discuss “How to Prevent Cyber-Crime”.

Overview

Cyber-crime has now surpassed illegal drug trafficking as a criminal profitable idea. With millions of cyber-attacks happening annually, cyber-crime is a real threat to anyone using computers, smartphones, tablets, internet of things and other gadgets on the internet. The growing number of attacks means that there are over thousands of cyber-attacks happening every day, hundreds of attacks every hour, and nearly few attacks every minute. Moreover, either somebody’s identity is stolen every few seconds, or someone’s confidential data is stolen, or someone falls prey to financial loss as a result of cyber-crime. Individually and collectively, these growing cyber-crimes are becoming a cause of great concern.

Each individual and entity across nations: its government, industries, organizations and academia (NGIOA) use the computer, internet and cyberspace every day. From accessing social media, to shop, bank, book travel, listen, watch or read news, most tasks are now being done in cyberspace using the internet. Thinking and believing that connected computers and cyberspace is safe and secure at this point, will be the existential threat to our lives and safety and security of our nations.

As a result, cyber-crime is a rapidly evolving threat to each individual and every entity across nations: its government, industries, organizations and academia (NGIOA). No longer is cyber-crime a dark phenomenon limited to just few opportunists from across nations. Cyber criminals are serious professionals and the “cyber-crime industry” operates exactly as legitimate businesses on a global scale. From financial crime and corporate espionage to cyber bullying and cyber terrorism, the cyberspace has become a safe haven for all manner of criminal activity.

What perhaps began as an intellectual exercise by some hackers, has now evolved into a criminal industry that includes not only elite coders but also business savvy front men, who has made this industry a very profitable one. While there are technically savvy bot herders, who control botnets there are also “cashing out” finance and business specialists, a support staff, and marketing and sales people. Cyber-criminals have over the years become increasingly professional and operates their criminal organization just like any other successful business. Gone are the days when the old hacking ethical code mattered as the call for profit has taken over.

The threat posed by cyber-crime is getting bigger than ever, and it's growing exponentially. When the most successful criminals are those that are able to hide behind the anonymity that the cyberspace offers, and individuals are far more likely to be victimized in cyberspace than in geospace, it is a cause of concern to each one of us across nations.

As cyber-crime continues to evolve and puts every one of us at risk, there is no escaping the blatant realities of today’s interconnected and interdependent world—and the risks it brings to each one of us. So the question is how to prevent cyber-crime?

About the Author

Jayshree Pandya (née Bhatt) is a visionary leader, who is working passionately with imagination, insight and boldness to achieve Global Peace through Risk Management. It is her strong belief that collaboration between and across nations: its government, industries, organizations and academia (NGIOA) will be mutually beneficial to all—for not only in the identification and understanding of critical risks facing one nation, but also for managing the interconnected and interdependent risks facing all nations. She calls on nations to build a shared sense of identity and purpose, for how the NGIOA framework is structured will determine the survival and success of nations in the digital global age. She sees the big picture, thinks strategically and works with the power of intentionality and alignment for a higher purpose—for her eyes are not just on the near at hand but on the future of humanity! At Risk Group, Jayshree is defining the language of risks and currently developing thought leadership, researching needed practices, tools, framework and systems to manage Strategic and Shared Risks facing nations in a Global Age. She believes that Cyberspace cannot be secured if NGIOA works in silo within and across its geographical boundaries. As Cyber-security requires an integrated NGIOA approach with a common language, she has recently launched Cyber-Security Risk Research Center that will merge the boundaries of Geo-Security, Cyber-Security and Space-Security. Previously, she launched and managed Risk Management Matters, an online Risk Journal and one of the first Risk Publications, publishing Industry Risk Reports of Biotechnology, Energy, Healthcare, Nanotechnology, and Natural Disasters over the course of five years. Jayshree’s inaugural book, The Global Age: NGIOA @ Risk, was published by Springer in 2012.

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