Cybercrime on the rise: why you DO need to take it personally

How it works: Data theft, or hacking, remains one of the leading causes of loss due to fraudulent cyber activity. If your identity has been compromised or stolen through your computer in order to get access to your personal data, it is called hacking.

Criminals use bugs or similar exploits to hack into your computer system to gain access to your data. Any and all devices that connect to the internet – printers, cameras, routers, laptops, smartphones, to name but a few – can be hacked.

You could stand to lose all your data (including those much-loved photos), money if your bank or credit cards are hacked, or – worst of all – your identity. Also keep in mind you are likely to store digital copies of personal information of your children and other family members, such as birth certificates, IDs and passports along with address and/or school information that may compromise their identity.

Phishing is one of the most common online banking fraud methods.

How it works: Traditional phishing involves an email being sent to thousands of people in the hope that someone will click on the included web link and get tricked into giving away private information, like credit card numbers, usernames and passwords.

Currently spear-phishing seems to be a big trend, which targets specific individuals: You receive an email addressed to you personally by fraudsters who obtained your personal information off a website of social networking sites. By following your digital footprint they gather a good understanding of your preferences, making it easier to trick you into well targeted phishing schemes.

This is when a criminal impersonates a known individual or business to reach out to you with the intent to coax personal or business information.

How it works: You will receive an email or SMS that appears to have been sent from an acquaintance, your bank or a service provider that you often deal with, asking you to verify details or to release payments that may be due.

Since the communication appears to be legitimate and often timely and appropriate, you are more likely to respond. In doing so, you may unwittingly disclose personal information or make payments into fraudulent accounts.

Colman says it’s important for people to become more vigilant when responding to emails, SMSs and Whatsapp messages. “Fraudsters spend significant time and energy researching their target companies in getting to understand the nature of their activities, purchasing processes and even their internal relationships. This makes fraudulent emails and mobile messages appear even more credible,” he warns.

Apart from hacking, phishing and spoofing other methods of cyberattacks include data theft and sending viruses or ransomware. Ransomware is malicious software (malware) that takes over a computer and literally holds data hostage until the individual or business pays a ransom for it to be released.