Magazine article HRMagazine

HR's 2017 Challenge: Take a Bite out of Cybercrime

Magazine article HRMagazine

HR's 2017 Challenge: Take a Bite out of Cybercrime

Article excerpt

Of all the business trends for 2017, perhaps the most unfortunate is the increasing need for companies to protect themselves against crimes committed via the Internet or other computer networks. But with the potentially disastrous consequences of data breaches, cybercrime is not something any organization can afford to ignore. It continues to rise worldwide and could reach new heights in 2017. In fact, in some European nations, it is now the most common type of illegal activity.

That's why HR and IT professionals should make sure their employees are aware that they are the first line of defense.

Opportunity is partially driving the e-crime trend, as more devices join the Internet of Things and bring with them new susceptibilities. "We have seen the number of reported vulnerabilities rise nearly 170 percent in the past five years, along with the level of complexity and sophistication of threats," said Brian Gorenc, director of Trend Micro's Zero Day Initiative, a program from the global cybersecurity company that rewards security researchers for responsibly disclosing vulnerabilities.

Incidents of cybercrime come with a high price tag. According to a global analysis by IBM, a single data breach can cost, on average, more than $6.5 million.

Principal Threats

According to the 2016 Internet Organised Crime Threat Assessment report from the European law enforcement agency Europol, the top business-related cybercrime trends include:

Crime-as-a-service. Criminals are selling illicit commodities and data such as firearms, credit card information and employee data on the "dark net," a restricted online peer-to-peer sharing network.

Ransomware. Individuals are holding the contents of computers hostage until they receive money to relinquish data.

Criminal use of data. In many cases, crooks are acquiring data to perpetuate complex and lucrative fraud and extortion schemes. …

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