ask 4: Analysis of Case Study on Cyber Crime for the Company: The company has ex

Question

ask 4: Analysis of Case Study on Cyber Crime for the Company: The company has experienced a number of attempts to hack into their systems, introduce malware, and conduct other espionage in order to gain access to secret product information. TransManuCo believes that economic or industrial espionage has taken place to gather information about the company, first to discredit it, but also to steal intellectual property and ongoing research. It is also concerned that attackers have attempted to obtain operational information, such as datasets on clients, pricing, sales, marketing, research and development, policies, prospective bids, planning or marketing strategies or the changing compositions and locations of production. In at least two cases attempts were made to sabotage their systems though malware. The CEO now believes that there is someone on the inside who is assisting outside attackers and would like to take steps to have it formally investigated and prosecuted. Analyze the episodes in this case including: A brief discussion of what the issue or threat is and how it could affect the company What cyber security laws or compliance standards are affected What actions the company should take to mitigate the issue or decrease the potential threat

Explanation / Answer

Analysis of cybercrime and its impact on private sectors:-
-->Several reports published in the last months demonstrate that Cybercrime has double digit growth, being today among the four biggest crime threat all over the world, within asset theft crimes, frauds and corruption.
-->The trend is the same all over the word, cybercrime industry has collected a lot of successes during the last five years, we are facing with a sector doesn’t know the word “crisis” , in fact the cybercrime’s financial and geographic growth shows no slowdown despite the global economic difficulty. Cybercrime probably took advantage of the crisis factor, to undermine the business much more profitable.

-->Lack of awareness of the incoming cyber threats, and contraction of investment in prevention and control have played in favor of cybercrime. No company or organization is immune. Cybercrime growth has been fueled by an evident lack of adequate protection.

-->According a recent Norton cybercrime report costing fraud victims more than $388 billion worldwide over the past year, consider that up 35% of the global cybercrime bill were U.S. fraud victims, who spent $139 billion on cybercrime last year. An amounts of 141 victims per minute, an alarming statistic even for Norton’s consumer cybercrime expert, Helen Malani.
Cybercrime goes unpunished:-
-->Another aspect that must be considered when we talk about cybercrime is that usually this type of criminal activities go unpunished, it is highly lucrative and far less risky than any other ordinary crime like old-fashioned bank heist.
-->Cyber space has no boundaries this means the criminal acts could be conducted on foreign countries, each of them with its own law in the matter. This legislative inhomogeneity makes it virtually impossible an unanimous judgment of the criminal events that is then treated differently depending on which country is sentenced. This situation greatly complicates the operations of the crime persecution that often bases its headquarter in those countries where the risks of incurring penalties are minimal. Interesting is to interweave the information regarding the origins of the main frauds with data on related to countries that host crimes and the level of corruption present.
-->The area East Europe, but also many countries in Asia Pac are the appointed places to house the major criminals organizations that could operate in regions where the action of police is absent due corruption and provides them important connivance. In this scenario the fight against cybercrime is really complex and urgent regulations must be internationally recognized and shared, the fight against cybercrime can be conducted only through mutual cooperation of the states involved.
Which are the main cybercrimes observed last year:-
1.No doubt on the response, computer viruses/malware development, online scams and phishing activities and cyber espionage, very interesting also the schemas used for the distribution and sell of the information illegally acquired and to offer any kind of support to the realization of frauds.  
2.The security company Trusteer has discovered an advertisement for making targeted call calls in different languages to private individuals, banks, shops, post offices and similar organizations. $10 per call, this is the price for the service offered, cybercriminals were offered the possibility of obtaining the missing pieces of information they need to pull off attacks.
3.Many criminals have refined the techniques for collecting the information necessary to conduct an attack against a specific target. Banks and other Financial Educational Institutions, however, have a high level of security provided for their services making it difficult to carry out fraud.
1.A social network for customers, Citadel CRM Store, to allows users to be active player in the in product development .
2.Report bugs and other errors in software with a ticketing systems.
3.Code Sharing platform. Each client can share its module and software code with other. creating new modules or improvements.
4.Promoting of public proposal for software improvements and new features.
5.Efficient jabber instant message communication channel.
Impact of cybercrime on private industry:-
-->Having to use three attributes to describe cybercrime I would use the words intrusive, silent and dangerous. Just the silent mode of this type of crimes is a major problem in combating the threat, in fact, very often the companies realize that they have been victims of frauds or attacks until long after the event occurred.
-->The consequences are disarming and retrieve the situation is sometimes impossible, precisely the time gap between the criminal event and its discovery provides an advantage to those who commit crimes often unbridgeable that makes impossible any action of persecution. But we are assuming that the event is discovered by the victims and this is not always true, many companies are in fact over the years are victims of cybercrime, but they are not aware, a cancer that destroys from within.
Is cybercrime only a threat for private:-
-->Believe that cybercrime may be a prerogative alone of the private sphere is deeply wrong. The crime industry has recently been shown to be very attracted to areas such as government and military.

-->The information objects of interest are extremely different, email addresses, confidential information, intellectual property, secret technologies being tested are a valuable commodity to the sale and retrieving very interesting revenues.
New Technologies new opportunities for cyber crime, the mobile scenario:-
-->No doubt the last two years witnessed the true revolution in information technology world is the development and deployment of mobile systems. Unfortunately the development of the sector is not paid to the implementation of appropriate security mechanisms to protect these systems, but more importantly is the lack of awareness by users of the necessity of having to defend a system so valuable.

-->Why we believe the mobile systems are so precious? They are somehow an extension of our person, follow us everywhere, track our position, they know our contacts (email, phone numbers), manage our appointments, and when we surf on the web through these devices indirectly we provide them information on our customs and traditions. It isn’t difficult to predict a rosy future for the proliferation of malware in the mobile sector, but what are the main motivations behind the development of malware, especially in the scenario we are examining.

-->Cyber criminals are aware of the importance of information gained from our mobile and therefore are showing an high interest in the field, we have observed an exponential growth of malware designed to attack mobile systems and steal sensitive information, useful for the accomplishments of frauds, very impressed the banking sector.

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