Identifying and Analyzing the Latent Cyber Threats in Developing Economies

Identifying and Analyzing the Latent Cyber Threats in Developing Economies

Atul Bamrara (Indira Gandhi National Open University, India)
DOI: 10.4018/978-1-5225-1941-6.ch004
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Internet usage has increased significantly across developing economies in last decade and most of the enterprises are extensively reliable on computer networks for electronic mails to payment gateways. But, the scenario we live in today has become more and more connected, sophisticated and risk-prone to our network-delivered society. Nevertheless, it remains critical for enterprises to exploit the full potential of available technologies such as mobile computing, smart computing and cloud computing. A cyber security related gaffe in any of these rapidly emerging domains may lead to lost productivity and grave concerns to the enterprise. The chapter highlights the various concerns associated to cyber security, viz., how an attack may be operated and offered measures to secure the network and information technology resources within and outside the enterprise. In most of the developing economies no synchronized activities in this regard are taking place which opens the opportunity to cyber criminals intrude into the system and compromise the resources.
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In 2013, phishing alone resulted in $5.9 billion in losses to worldwide organizations, and three in four data breaches were attributed to monetary or fraud motives (Verizon, 2013). Cybercriminals have become more structured and adaptive, and continue to develop fraud as a service models which formulate some of the most innovative and advanced hazards and fraud technologies available to a much broader user base (RSA, 2014). Cyber threats are likely to affect everyone’s routine activities today or tomorrow. Society depends profoundly on computer technology for more or less everything in life. Computer technology utilize ranges from individual consumer sales to processing billions of dollars in the banking and financial industries. The quick development of technology is also increasing dependency on computer systems. Now, computer criminals are using this amplified dependency as a significant opportunity to engage in illicit or delinquent behaviors. It is almost unfeasible to have precise statistics on the number of computer crime and the monetary losses to victims because computer crimes are hardly ever detected by victims or reported to authorities (Standler, 2002; World Bank, 2013, Pawlak, 2014). In addition, policing in cyberspace is too inadequate (Britz, 2004).

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