Computer Crimes Against Organizations

Computer Crimes Against Organizations
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What type of cybercrime was committed?
The type of cybercrime committed against CNA Financial Corp on 5th-21st March 2021 was a Ransomware attack (Mehrotra & Turton, 2021). The ransomware attack, according to the National Cyber Security Centre, is a type of malware created by an attacker to encrypt and lock files in a particular system, rendering them unusable and then demanding for a ransom to be paid so that the files can be unlocked and made accessible again (National Cyber Security Centre, 2020). Ransomware attacks have become a disruptive force today, with cases rising by 148% as the criminals become more astute and more people work remotely. The attacks affect all institutions such as higher education, hospitals, the police department, financial and cybersecurity institutions. Attackers mainly target and threaten to leak or sell their acquired information if the ransom is unpaid, and due to lack of an alternative, most institutions end up paying the ransoms
Likely criminal profile for an individual who commits a ransomware attack
Criminals who engage in the crime of ransomware attacks are referred to as hackers. These cybercriminals are usually highly sophisticated, intelligent, and incredibly skilled in programming and understanding security concepts and technologies. These mostly male criminals have a high IQ and non-violent tendencies and work in loosely defined groups such as Evil Corp, a Russian cybercrime syndicate known to develop the worst and most effective ransomware, such as Phoenix Locker (Kirwan, 2011). In these groups, the hackers share information, different skills set, and resources that facilitate their hacking. Also, they are organized in an affiliate structure, which makes it challenging to identify the leadership or their spokesperson. The hackers come from various backgrounds, such as youths looking for notoriety, upset employees seeking revenge, or expert criminals aligned to global cybercriminal rings. The primary motive of these individuals may include lust, desperation, and rage. Also, recognition from peers, boredom, and enjoying the feeling of power are potent motivating factors for this crime (Kirwan & Power, 2013).
Organizations most likely to be victims of Ransomware attacks
Ransomware, according to experts, impact almost all businesses in all sectors, small and large. In 2019, more than half of organizations across different industries in the US experienced these attacks. Financial and insurance institutions are the primary focus for cybercriminals, whereby sixty-two percent of all documents leaked in 2019 were from these institutions. As a result, 90% of all financial institutions in America have been targets of these criminals. In comparison, banks have recorded a 520% increase in attempts to introduce ransomware between March and June 2020, according to Gaumer et al. (2016). These institutions experience significant threats due to the information they handle, their status in society, and their high c...