Forms of Cybercrime and Cyber Insurance These Days

Abstract

This paper aims to study new forms of cyber crime in the world and understand the cyber insurance protection from the various kind of cyber-attack. With the rapid technological developments, our life is becoming more digitalized. Be it business, education, shopping or banking transactions everything is on the cyber space. Cyber crimes can involve criminal activities that are traditional in nature, such as theft, fraud, forgery, defamation and mischief, all of which are subject to the Indian Penal Code. The abuse of computers has also given birth to a gamut of new age crimes that are addressed by the Information Technology Act, 2000.

Key words : cyber crime, cyber insurance

Introduction

While we are raising concerns about cyber security, the volume of cyber-attacks has increased. That fact should not be forgotten. There is nothing that not only India suffers from this problem but also the US and Britain who are called modern in Internet technology. Britain and the United States are targeted.

India is very weak when it comes to cyber attackers. Wherever there may be a cyber attack.

A recent report on cyber security states that cybercrime accounts for 0.8 percent of global GDP, or $ 600 billion. In short, the world is hit by cybercrime for $ 600 billion. Countries in Europe have ordered their companies to inform the government of the money lost in cybercrime. If not, a four percent penalty will be imposed on their annual turnover.

The law was strictly intended to allow private companies to repeatedly pay money to criminals after being victimized by cybercrime.

Get quality help now

Marrie pro writer

Verified

Proficient in: Banking Frauds

5 (204)

“ She followed all my directions. It was really easy to contact her and respond very fast as well. ”

+84 relevant experts are online

Hire writer

Particularly after the site was hacked, hackers paid the site and the site was released. This money was paid in crores. The government is not aware of the dealing behind the scenes. That is why the network of hackers cannot be captured.

Due to the increasing volume of cybercrime, large companies have been releasing cyber insurance. Cyber insurance cannot prevent cyber-attacks, it also returns 5% of the money lost in cyber-attacks, but it pays for forensic exports, recovering lost data, costs of lawyers, etc. after cyber-attacks. Cyber insurance policies cover the costs of legal battles after a cyber-attack. The government has also failed to cover the law to combat the problem of cyber-attacks.

In India, the law-making government of information technology is unaware that cybercrime should not be treated like ordinary crime. Cybercrime takes millions on a single click on a keyboard without getting a hand grip or a drop of blood. The laws of the IT are those in which the cybercrime has gotten worse. The company employees explain the filling attack tensumware etc. It also suggests keeping an eye on how many e-mails to delete and site log-off, and the habit of changing your password frequently. In the eyes of cyber insurance companies, the weakest link between a cyber attacker and a computer is the use of a computer. The user becomes addicted to seeing pictures and strange sites on the screen.

The problem of cyber security is a major factor in India too. But no company comes out publicly saying that we have been hacked by hackers on cyber track. Everyone has their own image and reputation.

Cyber crime

cyber crime is any unlawful activity involving or related to computer and networks is called a cyber crime two leading scientist emits us in India dr. K .J. Shankar and dr. Deborah T. Hauser they are lawyers who have defined cybercrime they have defined offenses that are committed against individuals or group of individuals with a criminal motive to harm them or bring disrepute to them using electromagnetic means of communication like internet or mobile phones so this is what a cyber crime is this definition implies that any crime that is perpetrated using computer or networks is a cybercrime, unauthorized access to any computer network that would be a cyber crime virus if intentionally anyone send virus or Trojan horse or wants to other systems then that is again a cyber crime phishing. phishing is looking for passwords of other people through unethical means brute force you are forcefully opening a system using password these are some other examples of cyber crimes cracking identity theft that means someone else on the computer network hate crime, if someone sending hate mails to some person ecommerce fraud, if someone using somebody else’s debit card and their details for making any purchases credit-card account theft publishing obscene content child pornography online stalking copyright infringement where a person a group of person or an organization is going is doing what meetings holding what online activity they’re holding cyber terrorism cyber warfare these are some of the examples of cyber rimes.

Hacking / Cracking (Website, System or Network)Phishing, Virus Attack / Installation, Social Engineering, Trojan, spyware, Steganography, Dos Attack, Cyber Terrorism, Financial fraud (banking, credit card fraud, etc.), Identity Theft, Intellectual Property Theft, Pornography, Cyber bullying, Corporate espionage (espionage) etc. Evidence may include:

• • Credit card receipt
• • Bank statement
• • Envelope (if received a letter or item through mail or courier)
• • Brochure/Pamphlet
• • Online money transfer receipt
• • Copy of email
• • URL of webpage
• • Chat transcripts
• • Suspect mobile number screenshot
• • Videos
• • Images
• • Any other kind of document

New forms of cyber crime

AI as a weapon: automated spear phishing

Replicating human ability to communicate in a natural language, like English or Spanish, had been one of the ‘holy grails’ of the early AI research. This technology has now matured to the point that computers are becoming just as good as humans at writing certain text. Spear phishing, for example, is a hacking technique that involves sending fake communications to the targeted individual – ostensibly from a trusted source – to deceive the target into revealing confidential information.

In a paper published at DEF CON in 2016, researchers from zeroFOX1 described an experiment in which they built a neural network that learned to write phishing messages on Twitter using topics previously discussed by the target. They reported success rate of “between 30 per cent and 66 per cent” which is, according to the authors, comparable to the success rate of manual spear phishing efforts. The ability to automatically target thousands of individuals makes such attacks all the more dangerous.

Stealing Fingerprint

Hackers can easily clone your fingerprints to gain access to your life. What’s scarier is that it’s neither too costly nor too difficult. Fingerprints can be picked up from daily objects easily or mass attacks are possible if the servers of UIDAI are hacked. Hackers can also skim fingerprints via malicious biometric devices just as with infected credit card machines. This can be done via digitally replaying the print to authenticate applications and transactions. Another possibility is to use 3D-model printers to simply make a physical copy of the print. It is even possible to make physical fingerprint replicas using simple dental moulds and some playing dough.

According to a research at theDepartment of Computer Science and Engineering at Michigan State University in the US, fingerprints can be replicated in less than $500 with conductive ink fed through a normal inkjet printer, in a procedure that takes less than 15 minutes. According to researchers at CITER, the disturbing thing about fingerprints is they can be hacked just by using everyday items like some dental mould to take a cast, some playing dough to fill it. All they need is an impression of a person’s fingerprint. Using the cloned fingerprint, the hacker can enter every mobile application or devices that use the fingerprint as a security measure.

Using apps in cyber crime

Many cybercriminals are using apps that generate international phone numbers to con people. The worst part: the numbers are difficult to track. One receiver of such a call complained to the cybercrime police station in the city recently that he got calls from two different numbers. While one call had the country code 001, indicating a USA number, another had 0063, the country code of Philippines. The apps provide users the option to get a local number in a foreign country and make international calls. However, there have been many recent cases of such apps being used to defraud people. The cybercrime police official said such cases are being registered, although he did not have the number of such cases as they are not classified under a separate category.

This app can be a remote access app called ‘TeamViewer’ or ‘Enidisk’. These apps themselves are not illegal or fake, but with the help of it, we allow those thugs to ‘watch’ our phone screen away. Now the cheater tells us to add a small amount to our own Paytm account. Any way we do this transaction, the corresponding OTP comes into our mobile. Who can also see the paleo thugs. Immediately he or she gets another large amount of transactions using the details and OTPs that are due to our transaction, which goes into their account or used to pay for shopping anywhere in the name. Similarly in India, the number of frauds using the ‘Remote Access App’ is increasing.