Academic journal article Journal of Legal, Ethical and Regulatory Issues

New Global Cybercrime Calls for High Tech Cyber-Cops

Academic journal article Journal of Legal, Ethical and Regulatory Issues

New Global Cybercrime Calls for High Tech Cyber-Cops

Article excerpt

INTRODUCTION

Javelin Strategy & Research (2014) reported that in 2013 there was a new victim of identity fraud every two seconds. In fact, according to that report, more than 13 million people were victims of identity theft that year with an $18 billion financial impact. Businesses also fall victim to various forms of cybercrime, often by way of email scams. In fact, in 2014 the Federal Bureau of Investigation's (FBI) Internet Crime Complaint Center (IC3) logged 2,417 complaints about compromised business email accounts that resulted in losses of $226 million (2014 Internet Crime Report). Cybercrimes (listed in Table 1) may include fraud, identity theft, theft of money or data (which could include patent or trade secrets), and malicious attacks using viruses (sabotage), sextortion, and even sometimes cyber-bullying (although this paper does not address that issue).

Farrell & Hurtado (2015) report that in 2014, JPMorgan experienced the largest cybercrime hack, part of a global criminal ring which stole data from 100 million financial services customers involving 75 companies bank and brokerage accounts (http://www.bloomberg. com/news/articles/2015-11-10/hackers-accused-by-u-s-of-targeting-topbanks-mutual-funds). The global nature of theses high-tech crimes call for a new approach by government, corporations and law enforcement with new methods and new technologies to thwart these attacks and dismantle the criminal enterprises.

In this paper, the authors examine some of the latest cybercrime threats and offer recommendations to thwart those crimes and stop cyber-criminals who use technology to steal from or cause harm to individuals and/or businesses alike.

New Cybercrimes Call for New Global Cyber-Cops

Cybercrimes are a global threat where criminals can be located anywhere around the globe as long as they have a computer with access to the Internet. Most cybercrimes are financially motivated but the form they take can vary. Increasingly, INTERPOL (2014) is becoming involved in hunting down the new types of cyber-criminals. One of the newest cybercrimes is sextortion, defined as sexual blackmail for money or sexual favors from individuals using sexual information such as photos, videos, or explicit messages stolen from their computers. The INTERPOL Digital Crime Center (IDCC), working with the Hong Kong Police Force, the Singapore Police Force and the Philippines National Police Anti-Cybercrime Group, identified more than 190 individuals working for organized crime groups operating out of the Philippines. This multinational enforcement operation, cooperating closely with Police Scotland, U.S. Immigration and Customs (ICE), Homeland Security Investigators (HIS), the Philippines Department of Justice Office of Cybercrime, and the UK's National Crime Agency CEOP Command, identified sextortion victims in Indonesia, Philippines, Singapore, the United Kingdom, Australia, Korea, Malaysia, Hong Kong, and the United States. The sextortion networks are simply out to make money no matter what damage they inflict on their victims.

Tompor (2015) brought to light another of the newest forms of cybercrime--holding data for ransom. Cyber-criminals use ransomware to invade computers, usually by sending an email with an attachment that an unsuspecting recipient opens which then infects and takes over the recipients' computer. Data, in the form of music, photos, or other computer files are the held by the cyber-criminal until the victims pay the ransom to get their data back. Individuals have been extorted for amounts ranging from $200 to $10,000 while business ransoms have been between $20,000 and $50,000. From April, 2014 to June, 2015 there were 992 complaints filed with the FBI and the victims reported losses over $18 million.

Cybercrime around the globe has become so sophisticated that underground organization calling themselves Darkode operates a secure website where criminals can buy, sell, or trade zero days, malware, credit card numbers, and trojans (Pauli, 2015). …

Search by... Author
Show... All Results Primary Sources Peer-reviewed

Oops!

An unknown error has occurred. Please click the button below to reload the page. If the problem persists, please try again in a little while.