Cyber-attacks rank among the top economic crimes, costing world markets in an excess of $4 million dollars every year. Although 2018 saw a significant reduction in cyber-crime, it would be a mistake to assume that the systems in place are actually working.
According to value statistics from Ottomatik MySQL backup, as well as results courtesy of online surveys by The Harris Poll, World Governments will need to take an active role in this fight, based on the following:
- Cybercriminals are now targeting mobile devices, which account for up to 60% of internet traffic. This influx in malware (malicious software) now targets mobile-optimized sites on anything from music, book sites, and lifestyle.
- Third-party app stores also act as indirect hosts for malware. What may seem like a low cost/free app, may, in essence, be malicious software. This becomes a problem due to the fact that there are no laws against these app stores.
- Identity theft is fast becoming a Global problem.
- The exponential growth of crypto-currency (bitcoin, litecoin,) having expanded by over 34, 000% according to figures from the Symantec’s Internet Security Threat Report 2018. This growth has made coin mining the most susceptible to cyber-crime.
So whose responsibility is it to battle this menace? What role can government agencies play in the quest to reduce the threat of Malware?
The government is the only body that has the resources and capacity to roll out a plan that provides information on cyber-crimes in schools. Everything from identification to mitigating factors.
Better equip law enforcement
There is nothing more dangerous than a dedicated hacker. Prevention of cyber-crime is a tall order. Governments can, however, better equip their police forces to enable them to combat cyber-crime. Coming up with a quick response cyber-crimes taskforce may be a good place to start.
While coming up with a curriculum for cyber education in school may be a long term endeavour, it is possible to come up with a plan that may have more immediate appeal. Educating the masses on public forums and putting educative items on digital media may be a quicker way to educate people on guidelines and steps to prevent or react to these issues.
Set a thief to catch a thief. Incentivizing hackers by giving them deals if they switch sides is the single most effective tool law enforcement can use to get hackers to work with them. The only people skilled enough to fight cyber-crimes are the cyber-criminals themselves. Working with hackers is the best way to find the best solutions.
A government that fosters teamwork gets things done. Cyber-crime affects the public and private sectors alike, so it is crucial for both sides of the divide to have a mutually beneficial flow of information. Note that one cannot exist without the other. To improve incident responses, the government and private sector needs to share vital information that may assist in an effective threat analysis.
Putting bounties on ‘bugs’
A tactical strategy that can work is to make the hacker get more from the exposed company than from selling the information online. Although some hackers just do it for the sake of it, some actually look for monetary gratification.
How this works, essentially, is to get companies to put a value on flaws in their systems and reward anyone who finds these flaws before they get exposed. This will perhaps give them time to regroup and find ways to fix it.
There are also scenarios where large corporations and government agencies actually offer employment opportunities to hackers who expose system flaws. This may be a way to go.