
SCARS Institute’s Encyclopedia of Scams™ Published Continuously for 25 Years

SCARS™ Insight: Cybercrime Is Big Business! A Continuing Series – Part 1
Source: DataQuest
What Drives The Business Of Cybercrime?
Easy access to consumer data, numerous avenues to attack, technology-driven sophisticated tools, and of course the prospect of making easy money continues to fuel the growth of cybercrime
Every day, you get a spam email or message urging you to click a link to update your bank details or run the risk of the account getting closed. Every day, you get messages promising you a fortune left behind by someone who has no inheritor. Every other day, you also get advice from your bank not to fall for such messages, as currently, these are some of the common forms of cybercrime designed to rob you of your hard-earned money and personal details.
Why Such A Spurt In Malicious Cybercrime Activities?
The reason behind a prolific rise in cyber crimes is not hard to guess. Cybercriminals engage in malicious activity for financial gain—at the expense of businesses and consumers. As much as it may appear hard to believe, it is every bit true that cybercriminals make ‘business profits’ now (2019) worth $3.5 trillion a year. According to one study, if cybercriminals were to be a country, it would in the top 30 GDP in the world.
The Drivers Of Cybercrime:
In this digital age, when humans are practically living their lives online, they are also the most vulnerable to digital exploitation. Some of the key drivers of cybercrime include:
- Easy access to data:
As more and more people shop online and engage in numerous online services—music, games, movies, social media, and so on—they are sharing personal details while signing up, logging in or making payments. As a result, there is so much personal data strewn all over the internet that it has become a child’s play to collate all of this data and exploit it at whim. That is why there is a spurt in the incidents of data breaches, as cybercriminals can supplement their databases of verified customer details and use all of the data for identity fraud and many other crimes. - Ability to make money quickly:
While some cybercriminals engage in criminal activities just to prove their might, more often than not the motive is financial gain. They can make easy money just by selling off the collated data on the dark web or anyone who may be interested—yes, even competing businesses. Digitization and online commerce have opened up a horizon of opportunities and avenues for monetary exploitation. Malware and ransomware have proven to be popular tools among cybercriminals to force organizations into paying up large sums of money in order to continue running their businesses, but never forget that scams are a close second in terms of financial gain. - Availability of a resource pool:
Cybercriminals have a resource pool available that they can tap into for any ‘support’ they may need to orchestrate and perpetuate a cyberattack. This full-fledged system supports the business of cybercrime and also reaps benefits. For instance, there are businesses that buy stolen data, criminal tool-kits sellers, outsourced human laborers available for mass attacks or to act as a front for criminal gangs, experts who share their ‘expertise’ with amateur wannabes—the list is rather long. - Technology-driven commoditized tools:
Advancements in technology have provided cybercriminals with commoditized tools which are used to scale the attacks and maximize the financial returns in the shortest possible times. Cybercriminals hide behind the anonymity of the internet and use easily available spoofing tools to hide the device or network identity and wipe off their digital footprints to avoid detection.
FIGHTING CYBERCRIMES
Every sector – personal or industry that you look at today is trying to catch up with the machinations of the cybercriminals. It takes time and effort to undo the damage cybercriminals inflict on businesses and consumers. Often, businesses do not even come to know for months that their networks are compromised and that someone is moving around stealing data or planting malware or monitoring everyday activities. Consumers can be played for years in scams and other forms of cybercrime and only discover these crimes after it is too late to stop them.
To effectively fight the evolving cyberthreats, everyone must look to erode the financial gains from these activities. We all can consider smart technology-driven solutions that can help gain better visibility into their networks, secure the endpoints, and authenticate every request in real-time. Consumers need to learn how to survive and thrive in the new threat-rich environment of daily life online.
Just like the gangsters of the 1930s we all need to adapt to this crime-infested world and stop assuming someone else is going to save us from ourselves. We have to become the cyberwarriors that save ourselves, our families and friends, and our businesses, but at the same time not let ourselves be seduced by the frauds claiming to be cybersecurity or scam experts – they are just as bad as the scammers and the cybercriminals – always look for real organizations with real governmental affiliations. Never fall for the “Mob-Rule” of fake or amateur anti-scam groups!
Visit Part 2
TAGS: SCARS, Important Article, Information About Scams, Anti-Scam, Cybercrime Is Big Business, Big Cybercriminal Business, Financial Advantage of Cybercrime, Cybercriminals, Professional Cybercriminals, Malicious Cybercrime Activities, Fighting Cybercrimes
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FAQ: How Do You Properly Report Scammers?
It is essential that law enforcement knows about scams & scammers, even though there is nothing (in most cases) that they can do.
Always report scams involving money lost or where you received money to:
- Local Police – ask them to take an “informational” police report – say you need it for your insurance
- U.S. State Police (if you live in the U.S.) – they will take the matter more seriously and provide you with more help than local police
- Your National Police or FBI « www.IC3.gov »
- The SCARS|CDN™ Cybercriminal Data Network – Worldwide Reporting Network on « www.Anyscam.com »
This helps your government understand the problem, and allows law enforcement to add scammers on watch lists worldwide.
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- Please visit www.ScamVictimsSupport.org – a SCARS Website for New Scam Victims & Sextortion Victims
- Enroll in FREE SCARS Scam Survivor’s School now at www.SCARSeducation.org
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If you need to speak with someone now, you can dial 988 or find phone numbers for crisis hotlines all around the world here: www.opencounseling.com/suicide-hotlines
A Note About Labeling!
We often use the term ‘scam victim’ in our articles, but this is a convenience to help those searching for information in search engines like Google. It is just a convenience and has no deeper meaning. If you have come through such an experience, YOU are a Survivor! It was not your fault. You are not alone! Axios!
A Question of Trust
At the SCARS Institute, we invite you to do your own research on the topics we speak about and publish, Our team investigates the subject being discussed, especially when it comes to understanding the scam victims-survivors experience. You can do Google searches but in many cases, you will have to wade through scientific papers and studies. However, remember that biases and perspectives matter and influence the outcome. Regardless, we encourage you to explore these topics as thoroughly as you can for your own awareness.
Statement About Victim Blaming
Some of our articles discuss various aspects of victims. This is both about better understanding victims (the science of victimology) and their behaviors and psychology. This helps us to educate victims/survivors about why these crimes happened and to not blame themselves, better develop recovery programs, and to help victims avoid scams in the future. At times this may sound like blaming the victim, but it does not blame scam victims, we are simply explaining the hows and whys of the experience victims have.
These articles, about the Psychology of Scams or Victim Psychology – meaning that all humans have psychological or cognitive characteristics in common that can either be exploited or work against us – help us all to understand the unique challenges victims face before, during, and after scams, fraud, or cybercrimes. These sometimes talk about some of the vulnerabilities the scammers exploit. Victims rarely have control of them or are even aware of them, until something like a scam happens and then they can learn how their mind works and how to overcome these mechanisms.
Articles like these help victims and others understand these processes and how to help prevent them from being exploited again or to help them recover more easily by understanding their post-scam behaviors. Learn more about the Psychology of Scams at www.ScamPsychology.org
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The information provided in this article is intended for educational and self-help purposes only and should not be construed as a substitute for professional therapy or counseling.
While any self-help techniques outlined herein may be beneficial for scam victims seeking to recover from their experience and move towards recovery, it is important to consult with a qualified mental health professional before initiating any course of action. Each individual’s experience and needs are unique, and what works for one person may not be suitable for another.
Additionally, any approach may not be appropriate for individuals with certain pre-existing mental health conditions or trauma histories. It is advisable to seek guidance from a licensed therapist or counselor who can provide personalized support, guidance, and treatment tailored to your specific needs.
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