Cyberattacks are considered one of the greatest dangers to the average American due to the severe financial cost that they can impose. These attacks have been on the rise and have caused turmoil to both citizens and critical infrastructure in America. Many have wondered about the exact damage and cost that these cybercrimes have caused. A study conducted by the US government calculated that cybercrimes have cost Americans over $16 billion a year.
This cost to Americans occurs because of cybercrimes involving phishing, identity theft, ransomware, malware infections, cyber extortion, and many more. The most common types of cybercrimes in America are phishing and identity theft. Phishing is when a cybercriminal uses fake emails or websites to trick users into giving passwords or credit card details. Identity theft is when a cybercriminal steals someone’s personal information to open that person’s accounts or commit fraud.
Phishing and identity theft alone are responsible for at least $52 million stolen from Americans.
Due to the severity that cyberattacks can have on citizens and the government, many have questioned why the FBI and other protective agencies haven’t put a stop to cybercrime yet. The truth is that cybercrime is hard to stop and punish due to the nature of cyberattacks. As soon as a cyberattack is detected, the FBI first tries to prevent further damage and then attempts to trace its source.
Tracing and identifying cybercriminals is very challenging, as most cybercriminals can erase their digital footprint. Identifying a cybercrime attack can also be difficult when the FBI has to combat cyberattacks across different agencies, sometimes even internationally. The prosecution rate is low because of the many challenges that occur when trying to find a cybercriminal. Due to the difficulty of punishing cyber criminals, the government has not been able to stop cybercrime entirely.
However, the government has made many advancements in preventing cybercrime. The US created the FBI Cyber Division in the early 2000s to reduce cybercrime. The Cyber Division has prevented nearly 1/8th of all cybercrimes since its inception, and the agency is continuing to develop new strategies to avoid future cybercrimes. The US has also committed to international cooperation to reduce cybercrime by partnering with the UN and NATO. The US has used international collaboration to share information related to cyberattacks so that cybercriminals can be tracked down and prosecuted.
Although the US government is always trying to stop cybercriminals, you must understand how to protect yourself from cyberattacks. According to the Department of Financial Institutions, you should never click on suspicious links because they can contain malware. Malware is dangerous because it can infect your device and steal your data. Tech support companies have also recommended that a device with up-to-date anti-virus software be well-secured. Having a well-secured device is important because having a secure device reduces your chances of a cyberattack stealing your data by nearly 85%.
The final recommendation from the Department of Financial Institutions was to be responsible when browsing the internet. The internet has many resources, but it is important to handle them responsibly. You should protect your device by avoiding possible insecure sites and properly maintaining your device software through routine updates. By being responsible with how you use the internet, you can avoid the stress of recovering lost personal data from a cyber attack. In the end, you are the first line of defense when it comes to preventing cyberattacks from infecting your software, and when browsing the internet, you can only ensure that your devices are secure.
