Cyber Crime Against Property

As the world is shifting towards digitalization, nearly everything goes online, including money, data, and intellectual properties. Which also increases the risk of cyber crimes, especially in India. 

Almost every sector has adopted digitalization and shifted their data to digital databases for easy accessibility, but it also leads to hackers being easily accessible and committing cyber crimes. 

One of the biggest cyber crimes that make everyone vulnerable to cyber threats is cyber crime against property, from individuals to large companies; all their data can be stolen and misused by hackers.

Did you know? 4 in 10 malware attacks result in confidential data leakage. This number of cyber attacks is increasing daily, and now it's a responsibility to address the issue and take necessary steps towards protecting the data. 

In this guide, we will cover everything about Cybercrime against property, its forms, different ways it is committed, and laws for it. By the end of this guide, you'll know exactly what measures you can take to prevent cyber crime against property.

So, without any further delay, let's find out!

What Is Cyber Crime Against Property?

When it comes to property, most people think that it's a physical asset like houses. But in today's digital age, property also includes online assets such as cryptocurrency, NFTs, online banking accounts, and virtual cards. Hackers target the digital properties of individuals or companies via hacking, fraud, or other illegal tactics, which is called cybercrime against property. Cybercrime against property also includes intellectual property, such as copyrights, patents, and trademarks, which are forms of property.

Forms Of Cybercrime Against Property

Cybercrime Against Property - Physical Damage

Physical property damage mainly refers to the destruction of those devices that store various important databases, including computers, laptops, smartphones, hard drives, or servers. These types of crimes are known as cyber vandalism, which aims to damage or destroy these devices by hackers or cyber criminals. If these devices holding important databases are stolen, they also come under cyber crime against property.

Cybercrime Against Property - Virtual Damage

Virtual damage refers to stealing or harming data that is stored online, including files, images, documents, and other sensitive databases, using various techniques. These online assets are at high risk and require special attention to protect them from cyber-attacks.

Some Common Ways In Which A Cybercrime Against Property Can Be Committed

Here are some common ways in which a cybercrime against property can be committed:

1. Intellectual Property Crimes

Some intellectual properties are copyrighted material, patents, trademarks, or trade secrets on anything like movies, music, or software, and theft or illegal use of someone's intellectual property leads to cybercrime against the property.

2. Typosquatting

Typosquatting means hackers create a website similar to a popular site but with a slight spelling error in the domain. For example - “http://Facebook.com ” and hackers create "http://Facebok.com ," and most people don't notice the difference and share their sensitive details to let hackers easily hand misuse their sensitive information. It's especially used for stealing sensitive information from individuals and businesses.

3. Internet Time Thefts

Have you noticed that many people get cyberattacks because they're using public wifi or the internet? Yes, it comes in internet time theft, where hackers hijack the Wi-Fi connection and can easily access all the connected devices with Wi-Fi, leading to data breaches and financial losses.

4. Disk Loading

Disk loading is a common method computers or devices use to sell their products more appealingly. For example - if a seller sells computers and laptops with pirated versions of expensive software like Microsoft Office or Adobe Photoshop without a proper license, it's counted as disk loading. Various data breach incidents and security concerns have arisen from this pirated software.

5. Cyber Vandalism

Cyber vandalism damages or destroys digital property such as websites, databases, or computer systems of individuals and businesses. This can be shown as offensive content, deleting data, damaging the functionalities, etc. Big brands face three significant actions, leading to financial and reputational damage.

6. Brand Harming By Portraying Obscene Content

Another popular method hackers use to attack big companies is posting inappropriate content by hacking their websites or social media accounts. Several previous attacks have happened where some big companies' founders ' social accounts were hacked and posted something inappropriate that damaged the customer's trust and brand reputation.

7. Transmitting Worms, Virus, And Malware

Transmitting viruses and malware into a computer system is another common method for hackers to gain unauthorized access to individual or business systems. These kinds of attacks are made by attaching the virtual with a program. A virus is automatically activated in their systems when a user uses or downloads the program. It corrupts or destroys data from data breaches, system failure, and finances to stealing sensitive information, all done by hackers via malware attacks.

8. Phishing

Phishing is one of the forms of cyber attacks that aims to gain unauthorized access to individuals' or businesses' databases. In Phishing attacks, attackers mainly create similar websites to target individuals to steal their social passwords and credit card details through fake emails or websites.

Legal Framework On Cyber Crime Against Property In India

In India, cyber crime against property mainly regulates two laws, i.e., the Information Technology Act, 2000 (IT Act) and the Indian Penal Code (IPC). Let's understand how cybercrime is related to property under both laws!

Some important cybercrimes against property under the IT Act are:

• Unauthorized Access (Section 43): A hacker accesses someone's computer without permission.

• Hacking (Section 66): Damaging someone's database on purpose.

• Identity Theft (Section 66C): Stealing someone's personal information to misuse it.

• Fake Digital Certificates (Section 73): Creating false digital signatures.

• Breach of Privacy (Section 72): When hackers share private information illegally without permission.

The IPC also deals with cyber crimes like:

• Theft (Sections 378, 379): Taking something without permission. For more details on the specific legal implications and penalties for theft, refer to IPC Section 379, which outlines the punishment for theft in India.

• Cheating and Forgery (Sections 420, 463): Tricking people or making fake documents.

• Defamation (Section 499): Damaging someone's reputation.

People Also Read : What is Cyber Defamation

Measures To Prevent Cyber Crime Against Property

Here are some useful measurements to prevent cyber crime against property:

Use Strong Passwords: You must create strong passwords that are hard to guess for anyone, such as a mix of letters, symbols, and numbers. Avoid using the same password for different accounts; otherwise, all your accounts can be in danger.

Enable Two-Factor Authentication (2FA): Two-factor Authentication is one of the best possible steps to protect your device and sensitive information from unauthorized access. A password and real-time code are required whenever someone tries to access your ID.

Use Secure Connections: Don't get attracted to free public Wifi connections or websites that don't have HTTPS security because these websites are the medium for hackers to easily steal your device information and hack it.

Backup Data Regularly: Make copies of your sensitive information in a safe place. So that you'll ensure in case of cyber attacks.

Immediate Report Cybercrime: If you experience cybercrime, immediately report it and let the authorities help you reduce the recovery damage.

Use Antivirus Software: You must update your device's antivirus software to protect them from malicious attacks or viruses.

Be Cautious of Phishing Attempts: You must keep yourself cautious about phishing attempts like emails, fraud messages, and duplicate websites - always check twice before clicking any link.

Educate Employees: If you're running a business, educate your employees to stay alert from cyber-attacks and protect the data safely.

Conclusion

Cybercrime against property is a growing concern worldwide, and dealing with it has become a big concern. So, it’s important to be aware of these cyber-attacks and ways to prevent them. We hope this guide helps you know everything about cybercrime against property and its forms, ways, and techniques to prevent it. Now, it's your turn to follow the techniques and keep your data safe and secure from cyberattacks.