SMART home technology are connected by the Internet of Things, have inherent risks of security breaches. Hackers targeted unsecured devices that includes SMART home technology, and infected them with malicious code to form a botnet and carry out the attack. A study estimates that at least 15 percent of home routers are unsecured with weak or default passwords. There are over 13 billion interconnected digital and electronic devices across the world; the October 2016 DDoS attack showed that a small percentage of vulnerable devices can have a devastating impact. SMART home technology SMART home technology use devices connected to the Internet of things
Internet fraud Internet fraud Internet fraud is a type of fraud which makes use of the Internet. According to the FBI's 2017 Internet Crime Report, the Internet Crime Complaint Center (IC3) received about 300,000 complaints victims lost over $1.4 billion in online fraud in 2017. According to a study conducted by the Center for Strategic and International Studies (CSIS) and McAfee, cybercrime costs global ecomony as much as $600 billion, which translates into 0.8% of global GDP. Online fraud appears in many forms. It ranges from email spam to online scams. Internet fraud can occur even if partly based on the use