Executive Summary

As the Global Pandemic laid hands on everything, the world has most of its growth online.
With the constant innovations and inventions, Cybercrime has been a major issue and
cannot be avoided. The following discusses the various privacy and security challenges, that
employees and commoners have to face. It also talks about possible countermeasures to
withstand malicious crime.

Security And Privacy Challenges

Crypto-jacking:

One of the most vicious crimes evolving in the 20th century is Crypto-jacking. This is a type
of crime where the cybercriminal uses the victim’s gadgets and mechanism to generate
Cryptocurrency. ‘Mining’ for crypto requires huge numbers of Computing equipment and the
criminal is able to succeed by using third-party devices as their major component to
generate an outcome. Recent cases of Crypto-jacking incorporates the attack in Mumbai
where Aditya Group, the Country’s largest business head suffered big time when around
2000 computers were targeted by the hackers (Ghosh,2018).

Phishing Attacks:

The previous year had witnessed the sophistication of phishing attacks. This is a method
used where lack of knowledge of the commoners is an upper hand to the hackers who
showers deliberate messages and emails with fraud links. Installing or opening such links
promotes malware introduction and discloses personal information. Through Machine
learning, cybercriminals are successful in generating convincing fake messages in hopes
that people will compromise their own confidential data without knowing. These attacks
permit the goons to gain access to logins, credit cards, and other financial information. An
example of such unethical acts includes the attack on the Computer Manufacturer Acer by
the Revil Attack groups which is also responsible for the attack over the London Foreign
Exchange (College Illinois, 2021).

Ransomware Strategies:

This particular strategy is believed to cost the victims millions of dollars every year. The
hackers bring certain steps into actions where the affected organization is literally forced to
submit themselves. The vital data and information get compromised and the superior
demands a ransom in exchange for those. The rising of cryptocurrencies (For example
Bitcoin) provides the criminal, the opportunity to launch multiple ransomware attacks and
demand for ransom to be paid anonymously. The study says that around 32% of the affected
paid the ransom but have only been able to recover 65% of their data. Accenture faced a
ransomware attack on July 30 but the incident was contained.

IoT Attacks:

With the increased development all over the world, the Inter of Things is becoming
omnipresent. By 2025, over 75 million devices are believed to be connected with the internet
of things. These include smartphones, laptops, tablets, routers, and many more appliances.
These connected devices are useful to customers. Even the companies are benefitted by
gathering good multiple insightful data. However greater risks come with the greater good. A
large number of connected devices results in increased vulnerability to cyber invasions and
malicious acts. Gaining access to the IoT enable the offenders to bring disorder and
jamming of crucial financial gains.

Possible Measures to overcome the challenges

Although it is difficult to know when a system is being compromised, still a certain number of
steps can be taken to ensure some safety. This involves a proper understanding of the
ethics of crypto-jacking by the employees and immediate steps to investigate further to know
more. Usage of anti-crypto mining extensions to block crypto miners across the web. Usage
of ad blockers can also detect malicious code. Keeping in mind that putting javascript out of
action will shut down access to many functions, one can also do so (Sobers, 2021).
A possible way to escape from a phishing attack is to know what a phishing scam looks like.
It is advised not to click on a link without proper knowledge. Information shouldn’t be shared
on unknown websites and passwords should be changed regularly. Installation of efficient
firewalls can resist phishing attacks. One shouldn’t get tempted by pop-ups. Setting up a
data security platform to detect sudden attacks is also a valid method (Sinister, 2021).
Thoughtful backups of important data are a wise decision for data security. Developing
certain policies with immediate response plans is an effective way to stand against
cybercrimes. Developing a good IDS system to track malware regularly and hardening up
endpoints can prevent the stealing of data. Keeping the systems up to date, implementing
strong codes, and giving proper training to the employees will serve the greater good.
People often forget to regulate router settings and this could hamper the security of a
network. It is advisable to change the default settings of and internet equipment. When not in
use, internet devices should be disconnected to reduce the chances of hacking. Keeping
software grants extra and efficient security to a system. They give the latest antimalware
countermeasures. With constant innovation in hacking processes, older versions are
susceptible to frequent attacks, and installation of firmware at the appropriate time can
eliminate security threats.
References:

Ghosh, S., (2018). Over 2,000 computers at Aditya Birla Group held hostage by hackers mining
cryptos. [online] Available at: <https://economictimes.indiatimes.com/news/company/corporate-
trends/aditya-birla-group-hit-by-cryptojacking-attack/articleshow/64115246.cms> [Accessed 17
January 2022].

College Illinois, T., (2021). [online] Available at: <https://illinois.touro.edu/news/the-10-biggest-

ransomware-attacks-of-2021.php> [Accessed 17 January 2022].

Sobers, R., (2021). [online] Available at:

<https://www.varonis.com/blog/cryptojacking#prevention> [Accessed 17 January 2022].

Sinister, A., (2021). [online] Available at: <https://www.lepide.com/blog/10-ways-to-prevent-

phishing-attacks/> [Accessed 17 January 2022].