Recently the Democratic National Convention, the headquarters for one of the two major parties in the United States was supposedly hacked by Russia. The hack exposed massive corruption in the party through the release of information through WikiLeaks. Similarly, in 2011 there was a massive cyber attack that permitted foreign hackers to infiltrate three departments within the Canadian government and steal classified information. The attack led to the Canadians having to completely cut off internet access to those departments to halt the transmission to the hackers with IP’s originating in China.
Without question — In this age of technology, there has been a massive increase in cybercrime resulting in the cries from governmental agencies to increase cybersecurity budgets and capabilities. The United States started a hearing yesterday into the strengthening of cyber defense technologies, while other countries such as Nigeria have taken a more conservative approach to changes.
In the opening of the 26th National Conference of the Nigeria Computer Society, Nigeria’s Minister of Communication Minister stated that Nigeria is losing about half a billion dollars to cybercrime annually — Accounting for nearly 1% of the country’s GDP. Surprisingly, there are currently no established deterrents or strategies to fight cybercrime in Nigeria, even with the vast issues.
Based on a Norton Cybercrime Report, there are approximately 141 cybercrimes committed worldwide every minute, with the largest cause being a lack of adequate protection and a lack of awareness of the threat. From the same report, Norton — a leading security software company — described Cybercrime as “a silent global digital epidemic.”