Effects of Cybercrime Essay Example | Topics and Well Written Essays - 1250 words

Effects of Cybercrime - Essay Example E-crimes are very sophisticated and target consumers, public and private institutions (Wall). Computer crimes range from outside parties hacking the computer networks and phish in malicious programs that give users a deceitful sense of security, instigating them to disclose vital information. Some of the effects of cybercrimes are: The greatest effect of cybercrime is the loss of intellectual property as well as confidential information of the business. However, it is not easy to determine the exactly the extent of the losses. Partially, cybercrime is not a zero-game because the stolen information is not fully gone. Infiltrators steal only the company plans including the customer lists and the working strategies (Westby). Amazingly, the company may not be aware that it is no longer in control of the information flow and they are controlled outside their infrastructure. The spies take control of the company’s network and access the information that runs the institution. More often, such infiltrators are the company’s competitors who wish to make similar products and compete equally. Even though they cannot produce exactly the same product, the idea is leaked out. The spies having the intellectual information can compete in the market, and the victim company may be grounded in its operations. This is because the competitor may produce cheap products that attract many customers in the market (Brenner). Every business entity strives to be unique in its operation. This implies that every organization has to conceal its vital information to be peculiar and be attractive to the customers. Such vital information may be stored in the computers and network framework of the organization. Although it may take some time for stolen IP to appear in the competing product, there is no deferment in monetizing abducted vital business information. For