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Internet expansion has provided ease in doing business. It has provided a platform on which business can expand its operations in various countries. Also, it has created vast opportunities for the business to grow (Arief, Adzmi and Gross, 2015) But there have been serious consequences of using internet in business. The sharing of data and information has led to cybercrimes. Sensitive data is leaked that is restricting the business growth. It has allowed business to develop strict policies and regulations in sharing the information. For this, strong measures and actions are taken. Cyber-attacks have forced business to install high security measures. Besides this, due to cyber-crimes, trade relations between governments of different countries are affected. The purpose of this study is to identify reasons behind cyber-crimes as well as threats and attacks of these crimes on business (Blakemore, 2016).
The increase in cyber-crimes have created an alert in industries and business to use and implement effective systems for safe sharing of data. People leak data for getting financial benefits. Also, from research done in the past shows that mostly, data piracy is done by students. Along with this, it shows that business and film industry is highly been affected by data piracy. According to (Aggarwal, Arora and Ghai, 2014) it has become difficult to identify cyber-attack due to malicious activities. These activities are related to spam e mails, etc. According to (Somer, Hallaq and Watson, 2016) in a report, it is shown that in 2005, about 1.2 billion illegal copies of copyrights were made. Moreover, International federation of phonographic industry IFPI in a report estimates that across $4.5 billion loss was there in music industry due to piracy.
The main reason behind increase of cyber crime is lack of effective rules and regulations in maintaining records of sensitive data. There is no proper system created to investigate crime. This has resulted in more frauds every day. Moreover, government is also not focused on developing policies that can be used to investigate crimes. Victims are not been caught thus it has boosted their confidence level to do more crimes (Taylor, Fritsch and Liederbach, 2014) Business is also playing a crucial role in cyber crime. They have created several communities that can provide them confidential information. This information can be used to gain competitive advantage in the market. According to identity theft Resource Center’s (ITRC) report among 383 organisation at least one of them suffered data breach in 2016. in this average cost per breach was $4 million. The records stolen was average $158 globally. Theft in Trade secrets of nation range from 1 to 3% of their GDP (Brown, 2015)
There are various forms of cyber theft. Banking industry is been impacted a lot. While doing financial transactions people banking details such as account number, ATM pin, etc. is been hacked. Financial fraud is done with them. So banks needs to take strong actions against such thefts. More security measures should be installed while doing transaction online. Applications and software used in it must be protected by installing anti virus and keeping them updated (Lavorgna and Sergi, 2016) It will help in making system more secure and increasing trust of people. The investigation can be done with help of procedure that contains steps such as policy and procedure development evidence assessment, evidence acquisition, evidence examination, documenting and reporting. By following this procedure it will be easy to catch thief of cyber fraud. It will be very beneficial in reducing this. Cyber fraud has developed different types of crimes. One of this is cyber terrorism. It is a process in which people use technology for terrorism purpose. They interact and communicate with people to involve them in these activities. It is been increased in countries like India and Pakistan (Dawson, 2015). Thus, now it has created threat to these countries as terrorist are highly involved in these activities. Thus, it is also an issue that must be considered. Otherwise, it can lead to major consequences.
The main reason behind increase of cyber crime is lack of effective rules and regulations in maintaining records of sensitive data. So IT industry is focusing on developing measures that can be taken to track cyber crime. Research done by (Johnson, 2016) shows how there has been transformation in using of digital technology by people and business. For this applications and software are developed by them to protect their data. However, it is having a great influence on people life as focus is shifted towards doing illegal things. Internet is the main source for this. Rather than having positive impact it has created negative impact on business and people. There has been rise in cyber crime due to insufficient policies and laws. Also, it is necessary to develop policy so that can be used in tracking person who has done crime. Moreover, by keeping track record it will be easy to identify number of crimes (Sun, Shih and Hwang, 2015). Also, which type of crimes are increased will be easily identified. Rise in number of crime have created conflicts among business. It has intense competition in the market.
Research design – The research design is used to describe methods and processes through which research is conducted. It helps in finding out the technique through which research is done. It is of two types, that is, exploratory and conclusive (Kruse and Monticone, 2017.). The following research is based on conclusive technique. It will give reasons why there is increase in cyber-crimes and what changes are required for reducing it. Also, how it will provide efficiency to business in sharing data and information. The main purpose is to provide views of cyber-attacks due to expansion of internet.
Research philosophy- The research philosophy is used to describe on what basis research is been done. The researcher has used realism approach in this. It shows that this research is conducted to develop knowledge on reason and impact of cyber crime on business (Taylor, Fritsch and Liederbach, 2014). It will help in providing results whether cyber fraud is decreased or not and on what basis it has influence business operations. Realism is divided into two groups. One is direct and other is indirect. Direct means what we see and what we get .
Research approach – Research approach used in this is inductive. The results obtained from it will help in knowing the factors and reasons behind increase of cyber-crime. Along with this, how business is been affected by this. This approach will help in providing results by which it can be reduced. How cyber-crime has influenced sharing of data? (Lavorgna and Sergi, 2016) Research conducted will generate theory regarding cyber-crimes.
Data sampling- The data collected will be by using stratified data sampling. Business will be divided into different strata. These strata will represent business of different sectors in which cyber-crime has increased. By this, it will be easy in finding out the overall impact of cyber-attacks on business.
In this section it consists two elements that will help in finding out how data is analysed (Sun, Shih and Hwang, 2015) These elements are described below :-
Collection of data- The data collection method is of two types that is primary and secondary. Data that is collected for the first time is known as primary whereas data collected from different sources is known as secondary. These sources are old articles, newspapers, research papers, etc. The data collected for this research is primary as well as secondary both. This will help in conducting research in a better way (Arief, Adzmi and Gross, 2015). Also, it will give specific results.
Analysis of data – The data is analysed by using quantitative technique. It is because; it will give an insight on how there is been influence of cyber-attacks on business. In this, data collected will be converted into meaningful information. Moreover, research is based on rational approach and so, it will be easy in analysing this data (Aggarwal, Arora and Ghai, 2014).
The analysis of data will help in giving specific and effective outcomes. After this, it will help in comparing data of previous research with current one.
This research paper concluded that the issues related to cyber-crimes are increasing rapidly. Also, there has been a great impact on business due to this. The data shared is now hacked and leaked by communities that are organised by people. Also, it is analysed that internet has become a useful tool in providing personal information to other people. Moreover, it has created both negative and positive impact on business and people. Although business efficiency has increased but due to strong restrictions trading in countries. Internet is the main source for this. Rather than having positive impact it has created negative impact on business and people.
During the research, I observed that there was effective communication in between team members. After analysing results, I observed that in order to reduce cyber-crimes, business has implemented certain policies and laws regarding sharing of data. This has benefited them very much as it reduced malicious activities in the network. Also, it has allowed effective communication in between people and organisation. Apart from this, systems are having backups so that data can be retrieved. I also observed that there is much awareness about cyber fraud in business. This has resulted in taking appropriate measures before happening of any major event. Also, I think that it is very difficult to catch the victim of cyber-attack. It is because of movement of person from one person to another. The use of technology has given a tool to people to do this. Now, it is been used in elections to provide the benefit to parties. This has interrupted relations in between countries. I have also suffered from cyber fraud. It was due to spam mail. There are group of people who do these crimes for the sake of money. From research, I think that it is very important to stop cyber fraud. It is because; it will help in providing efficiency to business. I think that internet has created negative impact rather than positive impact on business and people.
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