cybercrime and money - Complete Controller

Being a victim of cyber-attacks can have lifelong effects on one’s life. One of the most common tactics that these scammers use is sending fake emails claiming to come from your bank or any financial institution and requesting your personal information.

Because of multi-layered character and complexity, cybercrime has become a more profitable business than drug trading. As per the latest research, the global impact of cyber-attacks has risen to $3 million, which makes it more profitable than the global trade in cocaine, heroin, and marijuana altogether.

In this sense, the economic loss to one can be a profit to others. Check out America's Best Bookkeepers

In addition to this, when a business faces a loss because of malware attacks, data theft, or data security-related incidents, it is beneficial to these cybercriminals.

Be it a bureaucratic or commercial, cybercrime is undoubtedly one of the biggest threats to organizations and companies. 

The biggest threats to a business are often related to the most noticeable kinds of cybercriminals, just like:

The Hacktivist

Hacktivists are the kind of cybercriminals that chose to target their enemies with reputational damage, data theft, and the website’s defacement. The process of hacktivism is a real challenge to Global affairs and is also a reliable instrument.

 In the modern world, hacktivists can be found worldwide and support all kinds of causes. Although the attacks of hacktivism are not directly linked to loss of money, there can be something much severe going on behind the defacement of a website. But, eventually, it all leads to money loss. Check out America's Best Bookkeepers

The Insider or a trusted Employee

It is hard to believe but an insider, often a privileged worker can access an organization’s sensitive information and financial data. This trusted employee might intentionally or unintentionally be a part of a cyber-attack operation. These insiders might compromise the organization that they work willingly through any external influence or carelessness.  Otherwise, they might have been a victim of blackmailing or a scam. What makes these privileged employees hard to counter and foresee, is the uncertainty of his nature. In other words, it can say that the defense against the cyber-attack should begin with the insiders.

Money Mules

Without the money mules, no crime can function, including cyber-crimes. These money mules are known as the concluding link of effective cyber-attack operation. They are known as the cybercriminals that make the dirty money untraceable and ready to use. This process is usually done through money transferring, payments through the internet, and online auctions. 

Money mules are mostly motivated by desperation and greed for money. They typically perform these activities through the home, casual internet café, or Wi-Fi hotspots to hide their activities. They are capable of transforming the benefits of cybercriminal activities into the untraceable money. These cybercriminals are recruited from all over the world, and they are crucial to the schemes of money laundering. In the continent of Asia and Australia, these cybercriminals are mostly international students, whereas, in Europe, these criminals are usually the retired people. Check out America's Best Bookkeepers

Black Hats

The black hats are the cyber-criminals that are responsible for scam tech support calling and harvested banking authorizations. The black hat cyber-criminals have dedicated themselves to cyber-attacks, and these cyber-criminals know human psychology as well. 

Moreover, these days the black hat cybercriminals can also be called people in business operating a business model known as MaaS (Malware as a Service). They are also capable of outsourcing the cyber-crimes. Thanks to Malware (MaaS), every wannabe can now join the vast family of cyber-crimes.

Antivirus Industry

The antivirus industry is on the other side of cybercrime and underground operations related to cyber-attacks. With the evolution of cyber-attacks and cyber- threats, the Antivirus industry is also transforming and developing. SIEM (Security information and event management) has always been the rapidly growing segment of an International protection software market in 2015. Operators need to invest in second-generation software such as anti-ransomware and cloud-based solutions for the future security of systems.

Check out America's Best Bookkeepers About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud-hosted desktop where their entire team and tax accountant may access the QuickBooks™️ file, critical financial documents, and back-office tools in an efficient and secure environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity. Check out America's Best Bookkeepers