Hacking Common Forms of Cybercrime

Questions: 1. What are the potential issues from hacking attacks? 2. How secure are our financial systems? 3. How can we trace criminal activity? Answers: 1. Hacking is one of the most common forms of cybercrime in the present days. The White hat is a term that is used to describe a special type of hackers, who have the ability to discover the weakness in a security system (Brown, 2015). This will help the owner of the security system to fix the security system and thereby prevent hacking. The internet is one of the essential requirements of daily life and it helps in the purpose of collection of data and also communication. The Large amount of classified and sensitive information is transferred using the internet, which attract the cyber criminals to hack into the web system and steal this valuable information. With the help of the hacked information, the hackers can target to destroy the main system of an organization. They can also gain access to personal information like email password and bank account details. Hence, the hackers will gain the power to make online financial transaction on behalf of the account holder. The white hat hackers can help an organization by identifying the loopholes that exist in the online security system. These hackers use their hacking skills to expose the vulnerable areas so that it is possible to prevent the attack of the malicious hackers. Nevertheless, the white hat hackers can misuse their skills and compromise the security of business firms. They can also violate the terms of ethics of hacking (Johnson, 2014). 2. The financial institutes in Australia that includes all the major banks use long term online security solutions to protect all forms financial transactions. Identifying the level of risk that is associated with the help of the white hat hackers is the primary steps to increase the level of security. The banks have also adopted strong level of authentication with the help of complex password and usernames. Moreover, the one-time password system has made it difficult for the black hat hackers to trace the password and personal information. The white hat hackers regularly explore the advanced techniques to update the internet security software. Finally, increasing the awareness level of the customers is also a vital step that has been adopted by all the major financial institutes of Australia. 3. In order to track the malicious hackers, the white hat hackers need to trace the IP address of the hackers. The Linux commands that have been designed by the online security experts is the best way to identify the origin of the hackers. It is only possible for a hacker to track the exact location of another hacker. Hence, all the financial and business organizations need to employ white hat hackers, who have the ability to design online security software (Brown, 2015). The white hat hackers play a significant role to protect all the financial and business institutes from the adverse effects of cyber crime. With the help of advanced online security software, they can prevent the malicious hackers and also trace their origins. It is the duty of the government to implement strict laws against the hackers so that it is possible to reduce the total number of cyber crimes. Reference Brown, C. (2015). White or Black Hat? An Economic Analysis of Computer Hacking. Johnson, M. (2014). White and Black Hat Hackers: Re-evaluating the" Hacker" Community and Ethic.