The Internet and related technologies have enabled companies to automate almost all of their operations resulting in enhanced efficiencies and cost-effectiveness. The technologies, however, have also introduced numerous security risks. Through security risks such as Electronic Hacking (EH), individuals and companies have lost a lot of valuable data and money. In this regard, there is a need to understand the extent of the threat of EH. A comprehensive thematic review and analysis of EH with a focus on developments, evolution, challenges, prognosis, and prevalence in select institutions was thus conducted. The research involved reviewing the literature on cybersecurity and its effect on organizations' operations. The result shows that cases of security breaches and associated costs continue to increase. Over five years, the healthcare and medical institutions were the most vulnerable. They were closely followed by corporations. The implications are that as institutions become more automated, their respective degrees of cybercrime vulnerability increase. The consequences of security breaches are normally dire for companies, as well as individuals. Millions, or possibly billions, of dollars worth of data, have been lost as a result of security breaches. This trend is expected to continue in the future, as computers and Internet technologies continue to advance. Through cybercrimes, numerous companies' operations have been sabotaged, and personal information from social media and email stolen. Long term, effective and sustainable strategies are therefore required. The paper is significant because it identifies the information security risks various organizations are exposed to and strategies that organizations can use to mitigate the risks.