Effects of Technology and Cybercrimes on Business and Social Media

Abstract

In today’s world, technology has become an ever-growing factor in our lives and ever since COVID-19, we have seen the rise of a digital, AI, world. Technology has greatly developed, evolved, and impacted the world since 2020. It has made lives more accessible in terms of communication and interactions. Instead of commuting to work every day, many businesses turned to ZOOM or TEAMS calls. Instead of having a meet-up with friends, you could Facetime. The world was forced to move online leaving the real world behind. However, many people overlook technology’s impact on today’s world. Cybercrime and cyberattacks are some of the many problems that continue to arise. With the sudden move to the online world, cybersecurity was a term many people hadn’t grasped yet, leading many people to not understand the risk of not protecting their data online. Advancing technology has made many cybercrimes more common because people have personal information online linking bank accounts, addresses, and phone numbers left unprotected. Different cyber attacks include malware and ransomware attacks, identity theft and fraud, phishing and spear phishing, cyber espionage, cyber extortion, crypto-jacking, etc. The sectors that have been most affected are business and social media with Identity theft, spear-phishing, and fraud as leading attacks. The leading cybercrimes for these sectors are identity theft and ransomware attacks. For future generations, people have to learn about cybersecurity and cybercrime. This paper explains what cybercrime and cyber attacks are and how to protect and prevent these attacks.