The History of Cybercrime and Why You Should Care About It

An overview of recent cybercrime history reveals a damning truth: we’re always playing catch-up. Past trends clearly show that we misjudge the criminal community’s tenacity and underestimate their skills and tools.

What is cybercrime, and how can we get ahead for a change? This brief history points out critical nodes and the estimated costs of our mistakes at each history junction.

Understanding the history of cybercrime shows us what we must stop doing and what we must start doing to gain advantage in the digital security field.

 The Early Year: Setting the Scene

Academic researchers were the guardians of the room-sized early computers. They created simple hacks, worms, and viruses, setting the stage for the first major cyber attack on the Internet in 1988. The Morris attack—a worm that got away and created unintended amok—came from Cornell University.

 The 1980s: An Explosion of New Technologies

New technologies made personal tech possible. An exploration of video game consoles, cell phones, camcorders, and personal computers (with zero safety controls) entered the market.

The Internet started in 1958, but today’s World Wide Web was developed in 1990. The public couldn’t get enough of it. Networked computer terminals or personal computers became standard office equipment.

There was a groundswell of optimism about how computers could make lives easier. There was no thought of possible dangers in the new digital realm. Still, ancient scams soon found new wings in email. The Nigerian Prince scam is one illustration of the tech-trusting zeitgeist of the eighties. It has racked up billions in losses since the 1990s and is still going strong.

 1990-2000: The First Nerds Are All Grown Up

As tech tools proliferated, there was a massive scramble to move from paper to digital. In the rush, we failed to realize that the digital arena brings unprecedented dangers. The first generation of “computer nerds and geeks” matured. Some of them became the first Advanced Persistent Threat (APT) actors to create new types of malware. When the first major hacks hit the headlines, the business community was surprised every time it happened.

 2000-2010s: The Emergence of Organized Cybercrime

The internet became the attack vector of choice. Following businesses’ lead, the general public increasingly adopted personal cybersecurity tools. Yet businesses lost billions to a surge in sophisticated malicious programs and improved attack techniques. In response, businesses rolled out company-wide security tools and hired cybersecurity professionals.

2003 saw the first nation-state attack on governments when the UK discovered a breach. The US became a continuous target for attacks by the Chinese, Russian, North Korean, and Iranian governments. They attack healthcare, energy, aviation, education, law enforcement, local and state councils, government departments, and military organizations.

There were also millions of data breaches in the private sector, leaving businesses floundering to recover and exposing billions of people to identity theft and small-scale hacks.

2020s: Low-Key Cyber Mayhem

Antivirus software became the norm even when people didn’t understand the tools or the horrors they neutralized. However, small oversights can tip into cyber disasters in the blink of an eye. Businesses experienced an unprecedented rise in sophisticated cyberattacks and a corresponding increase in financial losses.

In 2021, a ransomware attack on Colonial Pipeline disrupted almost half of the East Coast’s fuel supply. Panicked citizens hoarded fuel in plastic bags and paid a premium for the privilege. This sobering event exposed our vulnerability when the world’s computers go down.

 2022 to Today: The AI Bombshell

Just when businesses and governments got the cyber threat wake-up call, a new bombshell hit the world: artificial intelligence (AI) tools were released. While businesses struggled to come to terms with AI, cybercriminals became early adopters of AI tools. The cybersecurity bills soared and are expected to rise 9.22 trillion per year by 2027.

 It is Time to Learn from History

It’s impossible to calculate the true cost of data breaches and operational shutdowns to individuals. Identity theft statistics and estimated costs only tell a part of the story. Businesses have closed. People have lost their health or lives. Some have lost their only income, and others have lost all their savings. And how do you put a dollar figure on the effect of stress and fear on people’s mental health?

History teaches us that we’re frequently too slow off the bat. Every business is a target for cybercrime. You’re never too small or too big to become a target. It’s vital that we adopt a security-first mindset and start investing in the technology and tools we need to combat cybercrime.