What Adverse Consequences Arise From Cybercrime? In an age where the internet and its interconnected devices play an increasingly central role in our lives, we find ourselves becoming more dependent on this digital realm. This significant shift has yielded various benefits across numerous sectors, although it is not without the looming threat of cybercrime.
What Adverse Consequences Arise From Cybercrime?
It has enhanced the convenience, cost-effectiveness, and security of online purchases, revolutionized long-distance communication, and hastened the dissemination of information. Nevertheless, the escalating dependence on the internet has concurrently spawned a menacing specter: cybercrime. Globally, cybercriminals and hackers exploit the exchange of information and online transactions, posing a substantial threat to individuals and businesses, irrespective of the scale of their online presence.
In this extensive article, we will explore the multifaceted realm of cybercrime. We will delve into the scope of cybercrime, its potential impact on businesses, and effective strategies for safeguarding your enterprise against these digital threats. Our exploration will encompass
What is consequences arise from cybercrime?
The term ‘cybercrime’ acts as a broad category, covering a diverse range of criminal activities conducted through the internet, often facilitated by electronic devices like computers connected to the web. These cybercrimes take on different forms and present varying levels of risk
The driving forces behind cybercrimes
The predominant motivation fueling most cybercrime endeavors is financial gain. Although some cyberattacks are driven by the sole purpose of causing harm to digital assets or devices for political or personal reasons, such incidents are relatively rare. Cybercriminals utilize a diverse array of schemes and techniques to monetize their illicit activities. A few examples include:
Extortion
Cybercriminals may capture vital or sensitive data and demand a ransom for its release. Modern cybercriminals employ tactics like ransomware or structured Distributed Denial of Service (DDoS) attacks to extort victims.
Phishing
Cybercriminals seek to obtain sensitive information by impersonating well-known individuals or brands. This cybercrime form typically entices unsuspecting victims into disclosing personal information. The stolen data can be monetized in various ways, such as making unauthorized purchases using stolen credit card information or selling personally identifiable or sensitive data to third parties.
This list offers insight into the strategies cybercriminals use to initiate and profit from their attacks, although it is not exhaustive.
The driving forces behind cybercrimes?
Various manifestations of cybercrimes
The U.S. Department of Justice classifies cybercrimes into three primary types:
Criminal Activity Targeting Computers: This involves infecting devices with malware.
Criminal Activity Utilizing Computers
Criminals use computers to commit other crimes, such as sending spam emails containing links to phishing sites.
Criminal Activity Where Computers Serve as Accessories to Crimes
In this scenario, computers are used in conjunction with other criminal activities, such as storing stolen credit card information.
Cybercriminals may engage in one or more of these activities simultaneously. For example, a cybercriminal might infect a computer with malware, gain control of it, and subsequently use the compromised computer to launch a DDoS attack against another target.
Examples of Cybercrime Activities
Every day witnesses a multitude of distinct cybercrime activities, with new methods and technologies continually emerging. Here are some noteworthy examples:
Phishing
Among the most prevalent cybercrimes, it involves the fraudulent impersonation of reputable entities or individuals to deceive victims into revealing personal or sensitive information. Phishing is not confined to email; it can also occur through other communication channels like text messages and social media direct messages.
Spear Phishing
A targeted form of phishing directed at specific individuals, often involving extensive research on the victim to craft convincing attacks.
HTTPS Phishing
Cybercriminals employ fake HTTPS websites, primarily through email, to trick users into sharing sensitive information.
Pharming
A technique redirecting users from intended websites to malicious ones, often initiated by malware infections.
Malware Infection
Malware takes various forms, including computer viruses, Trojans, and worms. These malicious programs can modify or damage files, replicate themselves, or open backdoors for cybercriminals.
Data Breach
This umbrella term covers multiple cybercrimes aimed at illicitly accessing confidential or sensitive information.
Cybersquatting
Cybercriminals register and exploit domain names resembling those of legitimate businesses or individuals to profit from them, often by selling them at exorbitant prices.
DDoS Attacks
Denial of Service (DoS) attacks aim to disrupt internet services, while Distributed Denial of Service (DDoS) attacks involve multiple unwitting computers overwhelming a target with requests.
Cryptojacking
A relatively recent cybercrime, involving the hijacking of computer resources for cryptocurrency mining.
Cyber Espionage
Attackers clandestinely obtain data from businesses or individuals without consent, often via hacking.
Potential Hazards and Consequences of Cybercrime on Businesses
Cybercrime historically posed a greater threat to larger enterprises with prominent online footprints. However, recent trends suggest a shift towards targeting smaller businesses and organizations, taking advantage of their comparatively weaker security infrastructure. As a result, no entity is immune: while large corporations continue to be lucrative targets, smaller businesses and even individuals now face significant risks
Here are some of the critical adverse repercussions that cybercrime can inflict on businesses:
Disruption of Service or Operations
Cyberattacks, such as DDoS and malware infections, can cause significant disruptions to daily business operations, resulting in not only revenue losses but also potential harm to brand reputation. Hacktivist groups, in particular, may target organizations to protest perceived wrongdoings.
Financial Repercussions
Cybercrimes can lead to severe financial consequences, including the loss of customer trust, competitive disadvantages due to leaked pricing strategies, indirect financial impacts from operational disruptions, extortion through ransomware, and expenses associated with hiring legal and cybersecurity experts. For instance, Home Depot incurred a $13 million Settlement Fund in 2014 due to the theft of 50 million credit card records.
Stolen or Infringed Intellectual Property
Certain cybercrimes aim to pilfer or violate a business’s intellectual property, such as domain squatting, which involves registering domains mirroring legitimate ones before the actual trademark holders can do so. Many businesses now store intellectual property in the cloud, making it vulnerable to cyberattacks.
Forced Changes in Business Practices
The threat of cyberattacks or actual breaches can compel businesses to alter their daily operations, adapting to factors such as data breach threats or legislative changes like the General Data Protection Regulation (GDPR). Consumers’ growing concern for security also forces businesses to prioritize trust-building.
Reputational Damage
Businesses can suffer long-lasting or permanent damage to their reputations following cybercrimes. Studies indicate that compromised companies may witness share price drops, and customers tend to trust affected businesses less, often ceasing transactions with them altogether.
As an illustration, a report from Comparitech in 2021 disclosed that companies experiencing security breaches saw an average drop of 3.5% in their share prices.
Protecting Your Business Against Cybercrimes
To safeguard your business against the ever-evolving landscape of cybercrimes, consider adopting the following best practices:
Keep Everything Updated
Regularly update software and operating systems, including robust internet security solutions like antivirus software. Cybercriminals frequently exploit known vulnerabilities, making updates crucial for defense.
DRM: Protecting Your Business Against Cybercrimes
Use Strong and Unique Passwords
Employ lengthy, complex passwords composed of letters, numbers, and symbols. Avoid reusing passwords across different sites and change them periodically. Password management solutions can assist in generating and managing strong, unique passwords.
Utilize Reliable Security Solutions
Given the diversity of cybercrimes targeting businesses, invest in comprehensive security software solutions, including:
Reliable antivirus and anti-malware software with AI-driven behavioral detection.
Bot detection and mitigation to safeguard against malicious bots.
Real-time Brand Protection Solutions for detecting trademark and copyright infringements and automating takedown requests.
Educate and Train Your Employees
Your business’s security is only as robust as its least informed personnel. Integrate cybersecurity training into employee onboarding and consistently update it to address emerging threats. Give particular focus to fostering awareness of phishing and developing effective response strategies.
Considering the Future
Cybercrime is no longer confined to large enterprises; smaller businesses and individuals are equally vulnerable. It is imperative for everyone to take steps to protect themselves from cybercrime, given its potentially far-reaching consequences. By implementing the actionable tips outlined above, you can establish a robust foundation for safeguarding your business and yourself from the dangers of consequences arise from cybercrime.
The Vietnamese film industry is currently facing challenges of unauthorized copying, editing, reviewing, and livestreaming on the internet, causing frustration among filmmakers. This issue took center stage at the “Copyright Protection in the Development of the Film Industry” workshop held on November 22 in Da Lat.
Overview of the ‘Copyright Protection in the Development of the Film Industry’ Workshop – Photo: DAU DUNG
The workshop, directed by the Ministry of Culture, Sports and Tourism and organized in collaboration with the Department of Copyright, coordinated with the Department of Culture, Sports and Tourism of Lam Dong Province.
The event is part of the 23rd Vietnam Film Festival, taking place from November 21 to November 25.
Innocent Livestreaming Lawyer Quach Van Minh, the Secretary-General of the Vietnam Association for the Protection of Film and Television Copyrights (VAFC), shared insights into the emerging trend of film reviews being shared as short videos on YouTube, Facebook, or TikTok.
While reviews may seem harmless, the underlying motive is often to generate views and earn illicit profits, causing harm to the interests of film production units.
Director and producer Vo Thanh Hoa cited examples of recent films like “Lat Mat 6: Tam Ve Dinh Menh,” “Con Nhot Mot Chong,” and “Sieu Lua Gap Sieu Lai,” which have been dissected into multiple short clips and shared on social media to bypass content review algorithms.
Director Luong Dinh Dung revealed that two of his films, “578: Phat Dan Cua Ke Dien” and “Xam Do,” are being circulated blatantly on the internet. He urged audiences to consider cinema as a business product, created with both financial investment and intellectual effort from filmmakers. He raised a crucial question: “When the works of film production units are violated, who will protect them, and is there an emergency hotline for urgent help?”
Pham Thi Kim Oanh, Deputy Director of the Copyright Office (Ministry of Culture, Sports and Tourism), highlighted instances where films approved by the Film Department had not been released outside of theaters but were leaked online by someone.
The movie ‘Con Nhot mot chong’ has been cut into several small clips and broadcasted on social networks, bypassing content screening algorithms – Photo: DPCC
She cited the example of the film “Co Ba Sai Gon,” produced by Ngo Thanh Van, which was livestreamed shortly after its theatrical release. Additionally, many TV series currently airing have been recorded and widely disseminated on the internet.
Legal Challenges Doan Van Viet, Deputy Minister of Culture, Sports and Tourism, referred to survey data from the World Intellectual Property Organization (WIPO), showing that copyright-dependent industries, including the film industry, significantly contribute to the economic development of both developed and developing countries.
He cited examples such as the United States (contributing 12% to GDP), South Korea (9.89% GDP), China (7.35% GDP), Malaysia (5.7% GDP), and Thailand (4.48% GDP).
“Bolstering copyright protection plays a vital role in supporting and promoting the development of copyright-dependent industries, contributing to the rapid development of the economy, culture, and society,” the deputy minister stated.
However, with technological advancements, copyright infringement has become more sophisticated, posing numerous legal challenges, according to Pham Thi Kim Oanh.
Addressing the legal challenges, Nguyen Han, Director of Thudom Multimedia, noted that post-release protective measures are often insufficient. He likened the current situation to “releasing chickens and not being able to catch them again.” This happens when the relevant authorities lack the tools and procedures to protect rights in new conditions and contexts.
Lawyer Quach Van Minh added that although Vietnam has a relatively comprehensive legal system, including Intellectual Property Law, guiding decrees, Film Law, and administrative penalties, the fines are low and not proportional to the extent of violations and the damages suffered by film production units. Director Vo Thanh Hoa further emphasized the complexity and time-consuming nature of current procedures for handling violations.
Saving Vietnamese Cinema Experts and filmmakers proposed mechanisms, support policies, and legal improvements to enhance copyright protection and raise awareness about copyrights for the development of the film industry.
Pham Thi Kim Oanh suggested a stronger application of information technology in copyright management and enforcement. She emphasized the need for coordination with relevant foreign agencies to combat and handle copyright infringements on the internet.
A representative from Thudom Multimedia recommended encryption to protect and manage films before distribution and release. The addition of copyright marks for tracking, along with strict international distribution procedures, was also proposed. Several existing technological solutions were mentioned as capable of supporting and solving this problem.
In addition to rigorous enforcement, Lawyer Quach Van Minh suggested “blocking the ad revenue source of pirate websites.” This approach has been successful in countries like South Korea, Australia, and the UK. Representatives from the Phan Law Vietnam law firm emphasized that civil lawsuits against violators should be encouraged to prevent and warn other offenders.
Amidst the 23rd Vietnam Film Festival in Da Lat, Lam Dong province, the morning of November 22 witnessed over 100 delegates participating in the seminar “Protecting Copyright in the Development of the Film Industry.” Organized by the Copyright Office under the Ministry of Culture, Sports, and Tourism, this event unfolded within the framework of the 23rd Vietnam Film Festival.
View of the conference. (Photo: Anh Vu/Sports & Culture Newspaper)
The seminar boasted the attendance of more than 100 representatives, including managers, filmmakers, directors, and actors nationwide. It served as a crucial platform for regulatory bodies to continue listening to the aspirations of creative minds in the film industry.
Building upon this foundation, discussions revolved around researching and proposing mechanisms, supportive policies, and refining legal frameworks. The aim was to create favorable conditions that act as incentives for the development of copyright protection, innovation, and creativity in the film industry, specifically, and copyright-dependent industries, in general.
Pham Thi Kim Oanh, Deputy Director of the Copyright Office, highlighted the ongoing copyright infringement challenges, especially in the realm of the internet, causing significant losses to film producers. To overcome this, Oanh emphasized the need for synchronized solutions such as refining legal documents concerning copyright protection, bolstering communication to enhance awareness, and leveraging information technology for effective copyright management and enforcement.
Director and film producer Luong Dinh Dung raised concerns about copyright infringement issues, particularly on online platforms, stressing the absence of stringent penalties for individuals and websites involved in such activities. Dung emphasized the importance of addressing this issue to nurture a robust domestic film environment.
Copyright protection in film industry development
Speaking at the seminar, Deputy Minister of Culture, Sports, and Tourism Doan Van Viet acknowledged the challenges posed by the digital environment in protecting copyrights. This seminar aimed to identify obstacles, propose solutions, and gradually improve the legal framework for copyright and related rights.
Statistics from the Ministry of Culture, Sports, and Tourism revealed substantial growth in Vietnam’s film industry from 2018 to 2022. Despite challenges, the industry demonstrated strong annual increases in production value, labor resources, and the number of active film-related businesses.
Box Office revenues for cinema releases in 2018 reached around 3,400 billion VND and surpassed 4,100 billion VND in 2019. The impact of COVID-19 led to a significant downturn in 2020, with total industry revenue reaching 750 billion VND. However, by 2022, the industry had successfully recovered, achieving approximately 70% of the 2019 figures.
Innovative Solutions Unveiled: Sigma Multi-DRM
During the symposium, representatives from Thudo Multimedia, notably Nguyen Ngoc Han, introduced a groundbreaking solution in the form of Sigma Multi-DRM, integrating artificial intelligence (AI) for copyright protection (commercially named Sigma Active Observer – SAO). This innovation empowers content owners and online content distribution platforms to safeguard copyright for their digital content.
Mr. Han Nguyen – CEO of Thudo Multimedia
According to Nguyen Ngoc Han, Sigma Multi-DRM comprises three layers of protection, certified by Catersian, a global organization specializing in the certification of security products. Thudo Multimedia is currently the only technology enterprise in Southeast Asia to receive this prestigious certification.
“With the Sigma Multi-DRM solution, Thudo Multimedia is ready to collaborate and support state management agencies and copyright owners. We aim to create a secure digital content environment, reducing the deployment time and financial costs compared to purchasing foreign technology,” affirmed Han.
The video streaming content provider is losing 20% of potential revenue due to intellectual property theft. This figure was obtained from a survey conducted by Streaming Media.
Thudo Multimedia will present the key takeaways from this survey. The report highlights trends in Digital Rights Management (DRM) for protecting digital content and raises larger questions about the characteristics of content protection solutions in the future.
Over 200 people participated in the survey at the end of this summer. While many respondents were from North America, others came from the Asia-Pacific, Europe, and South America. They worked in various industries, ranging from advertising and artists to OTT broadcasters and cable television. In addition, instructors and businesses represented various fields, from technical to operations and management.
One aspect the report expands on is the difference between what businesses offer to customers (in terms of content access) and what customers desire (in terms of freedom to share and access content anywhere).
What’s even more interesting is that from an expert’s perspective, survey participants called for stricter DRM content protection solutions. Simultaneously, these experts responded to customer queries regarding less restrictive access.
“The gap between business models and customer expectations continues to exist. The research highlights this trend,” said Olga Kornienko, co-founder of EZDRM, a DRM-focused company.
The report also provides evidence that attack trends are increasing exponentially, along with the growing complexity of delivering video content to a wide range of devices.
Another part of the report delves into the increasing demand for livestream security in the context of the global pandemic, which has led to a significant increase in interactive livestreams from early 2022 to the summer of 2023. In fact, the survey indicates that the need to protect livestream content is just as crucial as providing on-demand content to viewers.
Finally, the report updates the latest global DRM standards and the rise of DRM+ as a new “blend” for security.
Contact Thudo Multimedia today for consultation on DRM technology solutions to protect digital content copyrights.
In an era where our lives are increasingly intertwined with the digital realm, protecting ourselves from cybercrime has become more critical than ever. Cybercriminals are constantly evolving their tactics, making it essential for individuals to take proactive measures to safeguard their online presence. Here are ten comprehensive cybercrime prevention tips to help you stay safe and secure in the digital world:
1. Use Strong Passwords:
One of the simplest yet most effective ways to enhance your online security is by using strong passwords. Create unique combinations of letters, numbers, and special characters for each of your accounts.
Avoid the common pitfall of using easily guessable information like birthdays or pet names. Instead, opt for complex passwords that are at least 10 characters long.
Consider using a reputable password manager to generate and securely store your passwords. This way, you won’t have to write them down, reducing the risk of exposure.
2. Secure Your Computer:
Activate your firewall: Firewalls act as the first line of defense against cyber threats. They block connections to unknown or malicious sites, helping to keep out viruses and hackers.
Use Anti-virus/Malware Software: Install and regularly update antivirus software to protect your computer from viruses. Additionally, use anti-malware software to prevent malware infections.
Block Spyware Attacks: Protect your computer from spyware by installing and frequently updating anti-spyware software.
3. Be Social-Media Savvy:
Adjust Privacy Settings: Review and configure your social networking profiles, such as Facebook, Twitter, and YouTube, to private settings. Only share information with people you trust.
Exercise Caution: Be mindful of the information you post online. Once it’s on the internet, it can be challenging to retract. Avoid sharing sensitive personal information like your home address and phone number.
4. Secure Your Mobile Devices:
Mobile Vulnerabilities: Understand that mobile devices are susceptible to viruses and hacking attempts.
Trusted Sources: Download applications only from reputable sources like official app stores to minimize the risk of downloading malicious software.
5. Install the Latest Operating System Updates:
Regular Updates: Keep your computer’s operating system and software applications up-to-date by enabling automatic updates. Cybercriminals often target vulnerabilities in outdated software.
6. Protect Your Data:
DRM: Safeguarding Digital Content
Data Encryption: Use encryption for your most sensitive files, such as tax returns and financial records. Encryption adds an extra layer of protection, ensuring that even if your data is compromised, it remains unreadable to unauthorized individuals.
Regular Backups: Make regular backups of all your essential data and store them in a secure location. In the event of a cyberattack, you can restore your information without paying a ransom.
Using DRM (Digital Rights Management): involves implementing various measures to protect digital content from unauthorized access, copying, and distribution. DRM is commonly used to safeguard digital media such as e-books, music, videos, and software.
7. Secure Your Wireless Network:
Home Wi-Fi Security: Review and modify your home Wi-Fi network settings to enhance security. Use a strong, unique password for your Wi-Fi network.
Public Wi-Fi: Be cautious when using public Wi-Fi networks, also known as “Hot Spots.” Avoid conducting financial or corporate transactions on these networks, as they are vulnerable to interception.
8. Protect Your E-Identity:
Guard Personal Information: Be cautious when sharing personal information such as your name, address, phone number, or financial details online.
Check Website Security: Ensure that websites are secure, especially when making online purchases. Look for “https://” and a padlock symbol in the browser’s address bar.
9. Avoid Being Scammed:
Think Before Clicking: Exercise caution when clicking on links or downloading files from unknown sources. Cybercriminals often use enticing links to spread malware.
Verify Sources: Don’t feel pressured by emails that request sensitive information or ask you to confirm your user ID or password. Verify the source’s legitimacy before taking any action.
10. Call the Right Person for Help: Reporting Cybercrime: In the unfortunate event that you become a victim of cybercrime, encounter illegal internet content, suspect identity theft, or come across a commercial scam, report the incident promptly to your local law enforcement, such as your nearest police station.
By following these comprehensive cybercrime prevention tips, you can significantly reduce your vulnerability to online threats and protect your digital life. Remember, staying informed and proactive is your best defense against cybercriminals in today’s interconnected world. Stay safe and secure online!
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