A leading European Community security organization had ended 2008 with a prediction that cyber crime will soon cause at least as much economic havoc as the current global financial crisis, if left unchecked.

Kilian Strauss, of the Organization for Security and Cooperation in Europe (OSCE) told Reuters news service, “These criminals, they outsmart us ten, or a hundred to one.”

Strauss also notes that cyber crime is already reaping a global harvest ammounting to (US)$100 billion annually.

The OSCE echoes warnings by other law enforcement and security organizations that organized cyber crime is exploiting a vaccuum in international cooperation between enforcement agencies.

In a darker vein, growing fears about the economic effects of out-of-control global cyber crime have (predicatably) given rise to calls for greater regulation of the Internet. However, security experts seem to agree that the problem is not regulation — which, alone, is ineffective in battling crime — but a lack of globally-coordinated enforcement.

Interpol President Khoo Boon Hui told Reuters that his organization is most concerned with the rapid rise of ‘tech-savvy gangs’ from China, India, Eastern Europe and Africa.

Of greater concern to some, particularly in the U.S., is an alleged growing threat of cyber spying by Russia and China.

6 Responses to Cyber crime worse than financial crisis

  1. Evolving Squid
    Jan 02, 2009

    A trend I find disturbing, however, is the lumping of traditional crime into the \"cyber crime\" bucket.

    If I defraud you with a letter, it really isn\’t any special crime if I send it to you via post or email. Thus, all the 419 scams, really aren\’t \"cyber crime\" but they\’re counted as such, as are the various marketing frauds that use email, etc. Certainly these crimes are made somewhat easier with the advent of the internet and email, but they existed before there was internet and have changed little.

    So too goes credit card fraud, the vast majority of which is still by traditional, manual methods. Most credit card fraud isn\’t \"cyber crime\" but again, it gets bundled in there.

    I find it *REALLY* hard to believe that anywhere close to 100 billion in damages is caused by destructive hacking, denials of service and other attacks that directly deal with \"cyber\" issues and aren\’t effectively frauds or other crimes adequately covered by other descriptors.

    In effect, these security organizations are outsmarting themselves… by overstating the problem – presumably to make a more solid case for funding – they are taking resources away from other areas where crime-fighting dollars could be very effectively spent. They\’re also going to cause people to get numb to their pleas.

  2. Eric Jacksch
    Jan 03, 2009

    Categorization for funding is probably one reason. I think the reality is that law enforcement agencies still treat physical and Internet-facilitated crimes differently because the average patrol officer has little understanding of how crimes are committed using the Internet and it doesn’t make sense to train officers that are already busy responding to physical occurrences on it. So they label it as “cyber” and assign it to a specialized unit. Unfortunately those units tend to be grossly under-staffed because investigating fraud on the Internet is a lower priority than dealing with physical burglaries, assaults, and violent crimes.

    The training gap will close as a new generation of Internet-savvy officers work their way up the ranks. We’re already starting to see some departments leverage social media sites like YouTube and Facebook to assist them with investigations. But the issue of prioritizing policing resources won’t go away. Realistically I think we need to find much more effective crime prevention methods.

  3. Evolving Squid
    Jan 03, 2009

    Makes sense… a “sweep it under the rug” approach. Investigating fraud, for example, shouldn’t really have a difference whether the fraud used internet or other means. Fraud is fraud. But if you’re busy, it’s easy to call it cyber and sort of make it go away.

  4. Yes… I agree, because I have seen it first hand. “the old sweep it under the rug approach.”

    Here is a little breaking News about how my businesses and my Life were all ruined by internet and Corporate Crime.

    Watch the video on how it happened…


    When we discovered the theft on December 7, 2003, We started out hoping for “quick justice” first from the local police… (Hey, we just got robbed!!!) But, we were told by our local authorities to go to the FBI because “They (the local authorities) didn’t have the budget to go after this type of crime.” We then went to the FBI what we heard from them was “Hey the FBI has this terrorist thing going on… and we can’t promise you anything at this moment… but, please do file the complaint!” Which we did… And now we have the official FBI Case: ICC # I05071411389175 and plus…our own FBI webpage so that we can add new information to our case file!!! Yes, We do add and update information to our case file all the time as we get it. Still waiting for the FBI to do something…. As we watch crimes still being broken repeated every year to re-registering our stolen corporate property and As now six years this ongoing theft of our property still continues.

    In 2004 we were also told by the FBI to file a law suit against the parties that committed the theft, which we did.. So because of that now “the thieves” are now called…. “the defendants” (So we learned… If we couldn’t get immediate justice free from our local Police or from the FBI… Then we could pay for our Justice in court!) No wonder our courts are so overloaded. The police and local governing authorities had the power and jurisdiction in the beginning to step in and enforce the law… because: theft is still theft! it was easy to sort out at the beginning.

    In Europe the internet laws are strictly enforced violators are arrested on the spot and thrown in jail.. But, when it comes to internet, here in the USA the police pass the buck on to the courts. So as a direct result, no one get punished “as a criminal” and that gives people with thoughts of committing internet-theft the green light knowing that no one will enforce the law. = internet-crime gets worse.

    Remember…. I am the victim here! I am just trying to get some justice… If I can recall correctly…isn’t that what we are promised as a citizen in our constitution?

    I have rationalized what happened as if it as was an “Auto Theft”. Late one night… the thieves take your car from your driveway and you discover that theft the next morning.. You call the police show them the pink slip to the car and point at the thief’s as they drive by waving at you… And… the police don’t do anything and tell you to go file a lawsuit? Your Lawyer talks to the thieves lawyer and demands your car back! The thieves lawyer says that they like your car so much they and don’t want to give it back! So Buzz off! The thieves then hire Huge Law firm and then drive your car around for six years like it was theirs and like they didn’t steal it. But, the truth is… it is stolen…its crazy!

    Any lawyer will tell you if you can’t win on the merits of the case or the facts… Then out spend them and win on by attrition or by a technicality. That’s the slick game being played here. It is a legal dance the dance steps aren’t easy to learn and the dance lessons are very expensive and the strategy is simple for the defendants keep us dancing and try to run out the clock and destroy our Finances!!! All this just to make sure that they brand their company and destroy my company and keep my web domain name. Yes, That is exactly what is going on here, a new Low point of business ethics?

    It is one thing being hit by a disaster like a Hurricane or Earthquake because, after it’s gone you can reconstruct and try to put your life back together. But what has happened here is different. Back in 2003 the theft began Today as I write this that theft has never stopped!! The burglars are still in my house and that still have my property six years later! And what has been going on for the last six years is that the burglars are just trying to complete that theft by subverting our legal system with their law firms and fighting a war of dollars trying to buy their version of Justice, to complete the theft.

    In our wisdom: If we claim to be a nation built of Laws, Then we must be also to be wise enough to realize that all laws can and will be twisted and subverted by money paid to lobbyists and high priced law firms… allowing large corporations and some people to get away with murder, and even theft.

    So If there is only laws that is not enough.. without justice we have nothing.

    We are all judged by our actions…

    Thank you for watching,

    Joseph Pulitzer wrote more than 130 years ago:

    “Always fight for progress and reform, never tolerate injustice or corruption, always fight demagogues of all parties, never belong to any party, always oppose privileged classes and public plunderers, never lack sympathy with the poor, always remain devoted to the public welfare… always be drastically independent, never be afraid to attack wrong, whether by predatory plutocracy or predatory poverty.”

  5. Casey Watkins
    Sep 16, 2009

    I have received a phone call from a “Cybercrime Monitoring Law Firm”, but I can’t seem to find any info on them!! They’re telling me that I’m being sued over a $200 payday loan that I’ve never even heard of and that I can give them $700 right now or they will come and get me and drag me to A courthouse and I’ll have to pay $5,000.00!!! Has anyone heard of them?!! I don’t know what to do! Are they trying to just get money out of me or what?!! Please help!!!

  6. Eric Jacksch
    Sep 16, 2009

    Sounds like a scam to me. If you are being sued, you’ll be served with proper paperwork. If they call back, ask them to send you the request in writing.

Leave a Reply