The growing trend in recent years is that more and more experts in the cyberspace are using their intelligence and skills to perform criminal acts for other people for a high fee. This is definitely a worrying trend.
2. Ransomware
This can generally be described as a malware that can threaten harm and denies one access to their own data in a computer. One is then pressured to pay an amount of money of ransom to be able to access their data.
Below is a link to a discussion by Robert Gibbons, CTO at Datto, joined by host Steve Ragan to talk about how ransomware affects companies.
↘↘Video Discussion↙↙
According to the discussion in the video, 25% of the time individuals and companies are unable to get back all or most of their data.
This definitely shows that there should be more provisions in the law for people and companies affected by ransomware attacks.
3. Virtual currencies
These digital currencies such as Bitcoin, Litecoin and many others are definitely a recent development in the financial currency field. However, the limited knowledge on the how this currency was developed as well as how it is controlled poses a few issues in cyberlaw especially since it has been noted to be the currency of choice for the payment for criminal products and services in the digital underground economy and the Darknet.
4. Social engineering
This trend includes acts such as phishing that could be used to attack highly valued target individuals. For instance actions such as CEO fraud which is a more refined option of phishing, has become a key threat to a number of companies.
With these trends and more growing in society, there needs to be a re-evaluation of the cyber laws which for instance in Malaysia needs to be updated to cater for such situations.
