14 Apr What are the most common types of Cyber Crimes seen by TEC Inquiries?

The most common type of cyber crime seen by the investigators at TEC Inquiries is the Data Compromise scenario. In this situation, the victim’s computer, account, or network has been accessed by an unauthorized person. Usually this results in data being destroyed, stolen or manipulated. For a company, the most common culprit is a trusted insider who gains access to files they are not supposed to have access to. Sometimes they steal the data to take to a competitor and sometimes they damage the data to take revenge on their employer.

Another common scenario is often called a “BEC,” which stands for Business Email Compromise. In this situation, either someone gains access to a corporate email account and uses the information in the account to get information- or they send an email and spoofs the identity of a company employee to get information. In either situation, they use the information they get to try and persuade the company to part with money in some way. Sometimes, it can be as simple as sending an email requesting funds be sent to a particular bank account. Because the email looks so real, the employee receiving it complies thinking that the request is legitimate.

A third, and growing type of situation, involves ransomware. In this case, the attacker gains access to the important data and encrypts it, preventing the user from being able to see their own data. The attacker then ransoms the data telling the owner they will have to pay money to decrypt their own data. Imagine what would happen if this involved sensitive records like medical records at a hospital! You don’t have to imagine it – it actually happened! – and the hospital was forced to pay.

Cyber extortion is frequently seen by regular computer users. In this scenario, someone gets access to sensitive records and promises to release these records to the public. This type of threat is also seen with companies who have to comply with European laws about privacy. Due to the fines imposed by these laws cyber extortion is on the rise

Phishing Attacks involve fraudulent attempts to obtain sensitive information such as usernames, passwords and credit card details by disguising as a trustworthy entity in an electronic communication. These types of attacks involve elements of social engineering and hacking.

Investigators with TEC Inquiries have experience with all of these types of cyber crimes and can help you if you are the victim of such a crime. TEC Inquiries will also help you interface with your insurance company as well assist you with complying with data breach notification laws in your state. Our reports are tailored to facilitate insurance recovery and legal compliance. We also work hand in glove with your legal counsel to minimize the impact on your business.