With cyber-attacks able to cause such damage to networks and shut down services, the effects could be extremely damaging. Effects of Computer Crime: Now we will discuss effect of computer crime on our world. According to a 2013 study conducted by the InfoSec Institute, cyber crime makes up … The impacts of a cyber attack can be determined in terms of losses that it brings with itself. In a day and age Introduction. 2 days before Christmas 2016, a … One of the most palpable effects of cyber crime is its disastrous monetary consequences. cyber crime! This loss can be caused by an outside party who obtains sensitive financial information, using it to withdraw funds from an organization. We don’t have enough time to research the effects, or potential effects, of new technology. [3] Today computers have come a long way, with neural networks and nano-computing promising to turn every atom in a glass of water into a computer capable of performing a Billion operations per second. ... United States is leading in cyber-attacks throughout the world about 35 % (approximately) in total of the whole world followed by South Korea 12 % of cyber-attacks of the whole world. HISTORY OF CYBER CRIME The first recorded cyber crime took place in 1820. It’s always created and made available unchecked, and we have to respond afterwards. We can say that it is an unlawful acts wherein the computer either a tool or target or both. Additionally, IP theft makes up at least 25% of cybercrime costs, and has an especially high threat to military technology. A data breach may lead to financial, regulatory , reputational or operational loss . The chief aim of all cyber crime is economic; that is, most crimes are committed with the goal of securing greater wealth. The term cyber crime is confirmed as the official crime term as criminals started getting more aggressive over the online and becoming a threat for millions of Internet users. It can also occur when a Cybercrime is the evolution of traditional crime in a more sophisticated environment, but one that has greater business risk. Small Islands, Big Problems: Cybersecurity in the Caribbean Realm José de Arimatéia da Cruz and Taylor Alvarez. Fighting cyber-crime is expensive and must always evolve as new threats and methods emerge. Effects of Cyber Crime Loss Of Revenue One of the main effects of cyber crime on a company is a loss of revenue. Cyber crime is an evil having its origin in the growing dependence on computers in modern life. The following examples are three ways that cyber-crime affects companies and their customers. Cyber crimes have become a real threat today and are quite different from old-school crimes, such as robbing, mugging or stealing. Unlike these crimes, cyber crimes can be committed single handedly and does not require the physical presence of the criminals. Due to computer crime there is loss of billions of dollar annually. 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