Cyber-crime

At least 68 percent of the victims of cyber crime in 2005 suffered monetary losses of at least 10,000. 

The economy can be described as a digital one because the Internet is used as a tool to facilitate all kinds of online financial transactions involving the common use of bank accounts, credit cards, airline and hotel reservations, government benefits, and the stock market. These financial transactions can be completed using both wired and wireless computer internetworking. The rapid growth of Internet applications that facilitate communication and financial transactions has also been accompanied by a growth in identity theft and other cyber crimes. 

Web architecture has developed both in terms of providing convenience for consumer transactions and social networking sites, such as Facebook, and also in terms of providing security through the use of firewalls and new security software to try to prevent cyber crimes. Despite the security risks, the usage of the Internet for personal, financial, educational, and business-related activities is expected to increase, especially in many of the newly developing countries that have been lagging behind the United States and other developed nations. 

Last but not least, the recent work to re-engineer the tools supporting the PIA method makes it suitable to study the future , i.e. for studies in which the system under study evolves. The changes may concern the system topology (e.g. the system may grow if the study period spans several decades), the model parameters (e.g. the effect of ownership change /lack of investment may impact the resilience of the system) and, not least, the cyber crime patterns may evolve over time. 

In considering the above, we must first establish the difference, if any, between cyber crime and cyber terrorism and determine whether there are any common links. Cyber crime was termed computer crime in the early stages of its evolution and has also been called computer related crime or crime by computer . At its most basic, cyber terrorism may be defined as an assault on electronic... 

Interception of data is a significant offense that is a precursor to cyber crime and cyber terrorism. The Cybercrime Convention defines interception as ... 

Internet fraud has been widely identified across the global as one of the fastest growing and most pervasive forms of white collar crime. The multicultural and multinational nature of e-business has resulted in diverse views on how the cyberspace should be regulated and how cyber ethics should be enforced. For example, encryption of data transmission over the internet is an effective means of curbing e-business abuses. But many third world countries are still not in favor of this practice. On die other hand, investigation and prosecution of internet abuses usually require cooperation of law enforcement authorities from two or more nations. The lack of cooperation from any one of these nations will make it impossible to prosecute the cyber criminals who will in turn continue to pose threats in the e-business arena. Till the world reaches an agreement on how the cyber space should be regulated, companies with e-business activities from all industries have to contend with cyber ethic issues for many years to come. 

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