Phishing is a deceptive practice where cybercriminals trick individuals into divulging sensitive information such as usernames, passwords, and credit card details. Social engineering involves manipulating people into performing actions or revealing confidential information. According to the Anti-Phishing Working Group (APWG), there were over 1.2 million phishing attacks in 2023, a 25% increase from the previous year.

Ransomware is malicious software that encrypts a victim’s files, demanding a ransom to restore access. The FBI reported a 62% rise in ransomware attacks in 2023, with total damages exceeding $20 billion. Notable incidents include the Colonial Pipeline attack, which disrupted fuel supply across the Eastern United States.

Identity theft occurs when cybercriminals steal personal information to commit fraud. The Federal Trade Commission (FTC) received over 4.7 million identity theft reports in 2023, resulting in financial losses exceeding $3.3 billion. Victims often face long-term consequences, including damaged credit scores and legal complications.

Identity theft occurs when cybercriminals steal personal information to commit fraud. The Federal Trade Commission (FTC) received over 4.7 million identity theft reports in 2023, resulting in financial losses exceeding $3.3 billion. Victims often face long-term consequences, including damaged credit scores and legal complications.

Data breaches involve unauthorized access to confidential data. High-profile breaches, such as the Equifax breach in 2017, exposed the personal information of millions of individuals. In 2023 alone, over 5 billion records were compromised globally, according to the Identity Theft Resource Center (ITRC).

Cybercrimes result in substantial economic losses. The Center for Strategic and International Studies (CSIS) estimates that cybercrime costs the global economy approximately $1 trillion annually. These losses stem from direct theft, disruption of business operations, and the costs of mitigating attacks.

Victims of cybercrimes often experience significant psychological distress. The constant threat of identity theft, harassment, and financial loss can lead to anxiety, depression, and a loss of trust in digital platforms.

Cyberattacks on critical infrastructure, such as energy grids, healthcare systems, and transportation networks, can have catastrophic consequences. The 2021 ransomware attack on the Irish health service, for example, disrupted healthcare services across the country, affecting thousands of patients.

Repeated cyber incidents erode public trust in digital technologies and institutions. This erosion of trust can hinder the adoption of new technologies and impede the growth of the digital economy.