Cyber Crime Against Individuals [extract]

Cyber Crime Against Individuals

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Cyber crime continues to rise in scale and complexity, affecting essential services, businesses, and private individuals alike. 

Cyber crime costs them billions of pounds, causes untold damage, and threatens national security. In many countries, the explosion in global connectivity has come at a time of economic and demographic transformations, with rising income disparities, tightened private sector spending, and reduced financial liquidity. 

At the global level, law enforcement respondents to the study perceive increasing levels of cyber crime, as both individuals and organised criminal groups exploit new criminal opportunities, driven by profit and personal gain. 

Upwards of 80 per cent of cybercrime acts are estimated to originate in some form of organised activity, with cyber crime black markets established on a cycle of malware creation, computer infection, botnet management, harvesting of personal and financial data, data sale, and ‘cashing out’ of financial information. And there has been a significant growth in cyber criminality in the form of high-profile ransomware campaigns over the last few years. 

(Full article length: 3,580 words)

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