However, cyberspace cannot be restrained through physical boundaries, and with the emergence of threatening cyber-attacks, the survival of e-commerce (especially for upcoming new business models) depends upon the security of our cyber systems.

A sharp rise has been noticed in the number of cyber-attack in recent years. Now, a single major cyber-attack on any corporate business can be used to destroy national security as well as international peace. The potential of an attacker increases when the target’s cybersecurity can easily be breached through different methodologies and malicious tools such as phishing, cyber espionage, denial of service, malware, hacking, etc. This grossly affects the personal data as well as the economic data of any company/business.

Cyberattack on personal data: MobiFriends Dating App – Credential case, 2019 is a much-known dating app, accessible through Android phone, designed to help individuals across the world to meet and connect online. Personal details used while logging of around 3,688,060 registered users of the MobiFriends dating app was released. The hackers had used the method of Spear – Phishing Attack and disclosed all the information personal information and credentials of around 3.5 million users which could be used for extortion, identity theft, etc.

Cyberattack on property: Sony Pictures Entertainment is an American based entertainment company that is also a subsidiary of Sony Entertainment Inc. In November 2014, it was hacked by a group of cyber-terrorists which called themselves ‘Guardian of Peace’, working in the capacity of North Korea. According to the investigated facts when employees of the company tried to log in to their Personal computer, they got a greeting featuring the words “ #Hacked by #GOP” with a graphic image of a neon red skeleton. Along with it, there was a threat that blackmailed that, if a request (which was not specified in the threat) would not be met, the hackers will leak some private and confidential data of the company. After a few further investigations, it was hinted that hackers wanted Sony Pictures to cancel the release of a Comedy movie about two Americans who assassinate Kim Jong Un (the current North Korean Leader). The movie was titled “The Interview”.

For a prosperous economy and proper functioning of the corporates, we need to understand that priority has to be given to the Cyber Security of an individual’s organization.

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