The Effect of Cyber Crime on Society/Importance of Cyber Insurance
The Effect of Cyber Crime on Society Our online presence is only increasing day by day. Be it shopping for clothes online or buying groceries at a store, with every transaction; we leave behind a digital footprint that online criminals are always looking to exploit. With increased internet usage, the number of cybercrimes has also increased globally. As per National Crime Records Bureau of India report , India saw an 84% increase in cybercrimes within a span of two years – from 2018 to 2020. Individuals and large corporations bear the impact of cybercrime. This article explains the many ill effects of cybercrimes on society. Cybercrime – An overview Cybercrime may be defined as any crime facilitated by the internet. Hackers, also known as cybercriminals, typically attack online systems using computers and private networks. Some of the most commonly known cybercrimes include identity theft, ransom ware, cyber extortion, phishing, data breach, online shopping scams, etc...