Cybersecurity is a key aspects of management information systems (MIS) and is specifically used to tackle the problems faced by businesses and their customers that are associated with cybercrime.

Cybercrime refers to any form of illegal activity carried out using electronic methods to deliberately and maliciously attack computer hardware or software, including computer networks, devices, and critical infrastructures. Most cybercrime is committed by hackers (or cybercriminals). Cybercrime typically disrupts the activities of a business and can temporarily halt its operations. This results in the business suffering from a loss of sales revenue, and potential damage to its corporate image, while the issue is fixed or repaired.

Examples of cybercrimes include:

• Computer malware - A computer malware or virus is a malicious code or programme that once activated infects a computer system and changes how it works, or stops the device from functioning.

• Cyberextortion - This means the cybercriminal demands money so as to prevent a threatened cyber attack.

• Data breaches - A data breach (also known as data leak) is a security violation that involves sensitive, protected, and/or confidential data being viewed, copied, transmitted, or stolen by an unauthorized person.

• Identity theft - This occurs when personal data and information are stolen and used illegals, such as banking and credit card fraud.

• Online scams - This refers to fraudulent behaviour using Internet technologies, such as email fraud.

• Phishing - This is the unethical and illegal act of using reputable business names, telephone numbers, emails, and websites to deceive people so that they reveal personal information, such as passwords and credit card numbers.

The cost of cybercrime to organizations is growing, as illustrated in the infographic below, signifying the importance of this matter for businesses.

Source: Statista

Watch this video to discover some of the most common types of cybercrime including viruses, malware, and phishing scams.

Cybersecurity is used to deal with cybercrime. Cybersecurity refers to the policies, processes, and procedures used to safeguard an organization's computer systems and networks from unwarranted attacks, such as information disclosure, data theft, or physical damage. Firms that do not take cybersecurity seriously can get into trouble with the authorities (see Case Study below).

 Watch this short video from Zurich about how employees and businesses can use cybersecurity to combat the issues of cybercrime. This matter had become increasingly important for businesses during the COVID-19 era when many employees started working from home (WFH).

• Cybercrime is any form of illegal activity carried out using electronic methods to deliberately and maliciously attack computer hardware or software, including computer networks, devices, and critical infrastructures.

• Cybersecurity refers to a firm’s policies, processes, and procedures used to safeguard its computer systems and networks from unwarranted attacks, such as information disclosure, data theft, or physical damage.

• A data breach (or data leak) is a security violation of private and confidential data, with the data being viewed, copied, transmitted, or stolen by an unauthorized person.