International Response to Cybercrime
Cybercrime is a global problem that affects all of us. From hacking into a company’s systems to gain access to sensitive data, the consequences of this crime can be severe. From stealing money, to disrupting critical services like the NHS, to putting lives at risk. It can also have a long-term effect on brand image and consumer trust.
What people often don’t realize is that cybercrime is highly organized, professionalized and lucrative. Criminals buy and sell malware on the dark web, as well as services that test how robust a virus is, business intelligence dashboards to track malicious code deployment and even tech support (yes, crooks have helplines they can call when things go wrong).
These sophisticated criminals are targeting businesses over individuals as more consumers become aware of the potential dangers of opening attachments on unsolicited emails or visiting unsafe websites. In the near future, it’s likely that cyber attacks on large companies will overtake phishing attacks on consumers.
Cyberattacks can damage a company’s reputation, cause a loss of investor confidence, lead to reduced stock value, higher credit costs, difficulty in raising capital and even litigation from customers who have been compromised by a breach. This is why the international response to cybercrime must be stronger and more focused. This can be achieved through improved Mutual Legal Assistance Treaties (MLATs), increased awareness and cooperation between law enforcement agencies and a wider range of tools to respond to cyber attacks.