All You Need To Know About Underreported Cyber-Crime Cases.
It's no surprise: cyber-attacks are on the rise. With the increase of cyber-crime cases, one would think that government agencies would be developing new ways to combat them, but the truth is most cyber-attacks go unreported.
It seems cyber-crime cases go unreported in order to control hysteria, but if we are ever going make steps toward fighting these attacks then we need accurate reporting tactics.
Why do Cyber-Crime Cases go Unreported?
There are many reasons why cyber-crimes go unreported, but the most basic answer is that it is difficult to determine when it happens and tougher to recognize afterward. The reality of the situation is that the majority of cyber-crime cases rely on the testimony of victims, who do not have a good grasp of what happened.
It is the nature of the crime itself: getting beyond the victim's line of defenses quickly and quietly to pursue a particular end. Companies' self-reported estimates on things like how many times they've experienced attacks and the damage they've caused. The problem is the victims rarely have accurate information about it.
How Few Cyber-Crimes Get Reported?
Since this data is unreliable, regulators and law enforcement agencies are currently expanding their operations, trying to find new ways to effectively report cyber-crimes. But another reason hacking attacks are underreported is because companies often choose to stay quiet. There are many reasons why they would do this, but the most obvious is that they don't want their clients and investors to know the full scale of the cyber-crime and think that the company is in existential jeopardy.
Ransomware also determines whether victims choose to report the attack. Since most ransomware attacks ask for under $1,000, many companies would rather pay the extortion rather than deal with reporting it to the police.
All of this creates an environment where cyber-crime cases are underreported. According to the FBI, only 15 percent of online crime is reported at all. This is a staggering number that has to change if our digital society is going to persist without cyber-attacks becoming a daily part of modern life.
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