A new wave of cyber attacks around the world on sensitive installations is evidence that cyber threats have become a reality. Despite the growing number and severity of cyber attacks, the world community is doing little to prevent this threat. It seems true that the major world powers are preparing for possible cyber war by hiring hackers and enhancing their country's cyber capabilities. After the increasing number of cyber attacks, a battle of words is raging between the US, China, Russia and Iran. With the increased popularity and widespread use of social media, extremist organizations are using the Internet these days to promote their agenda. They also launch cyber attacks against their rivals and the threat is growing. The effect of cyber attacks on the world's financial and economic sectors can be disastrous and it has become clear that cyber warfare can be more harmful than traditional war every was. The recent cyber attack on the computer network of oil giant Saudi Aramco ended up affecting 30,000 computers and the company is still dealing with the effect of this attack on its computer network. Qatar gas giant RasGas was also the recent victim of a cyber attack and is trying hard to prevent any further such attacks. Major countries are also paying a price and battling cyber threats. Six US banks including Bank of America have been victims of recent attacks. The hacking of customers' accounts, the stealing of credit cards and the planting of false information on the Internet has become a daily routine. Although some countries have introduced tough laws against cyber crimes, at a time when poverty is growing in the Third World and Europe is facing a financial crisis, most nations are unable to allocate extra funds to prevent cyber threats. Only tough laws against cyber crimes and concerted action of the major world powers can prevent a further deterioration of the situation.
