Cyber Crime: Phishing

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Cyber Crime: Phishing
The internet has revolutionized business as the world become more interconnected, but this has posed a challenge to organizations because of risk in illegal infiltration. Even though, organizations have dealt with numerous kinds of theft over time, cyber crime and phishing in particular presents new challenges because of anonymity of the internet. Easy accessibility to information means that organizations have to put more security measures to protect against illegal access to information. Phishing entails sending fake emails and scam intended to get information by passing off as reputable organizations (Nykodym et al 252). The main aim of phishing is to get sensitive information like financial data, and get passwords to bypass various security measures put in place. This paper focuses on phishing, its implications, cost to businesses and highlights on measures taken against phishing.
Phishing is not a new phenomenon, and in the early to the mid 2000's it was the main strategy used to illegally access personal information. Hacking has gone a notch higher and presents a greater risk to organization, but lack of vigilance means that it is possible to release user information and password through opening spam email. Nykodym et al (253) point out that toolkits are the most common form through which people gain access to information. “Since then, the technique of phishing has evolved and expanded. While the original phishers usually obtained their data by sending fake emails, today various other techniques are used such as fake phish websites, Trojan horses and pharming,” (Nykodym 253). To underline the importance of cyber security, the authors also point out that a subculture of cyber criminals has made toolkits popular, and sharing of information on vulnerability of systems increases the risk of attack.
For organizations, phishing has the potential to impact negatively on their competitiveness as the crime is lucrative where criminals can trade username and password credentials. The mere access to email information may also lead to more sensitive information like online banking details. This creates a cycle where the underground criminals get a...