Hackers are responsible for the loss of billions of dollars in fraud because they divert the fund which was meant for something else for their own selfish and personal gain.
- Hackers are the users who aren't authorized but breaks into the computer systems of people in order to steal vital information from them and then use the information to their dubious or fraudulent act.
- When hackers steal information from people, this is done by installing malware into the system without the person or organization knowing. Then, every necessary information that the hackers need will be collected. In case it's a financial information, they can use it to their advantage and collect the funds without the person being aware.
In conclusion, hackers divert funds that are meant for people, organizations or the government and this is responsible for billions of dollars in fraud.
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