Cybercrime Overtakes Global Drug Trade as Most Profitable Crime in the World
(News4us.com) August 18, 2011
Cybercrime, this high end form of illegal criminal activity has quickly jumped to the front of the most wanted list.
There is no other form of crime more prolific and dangerous in the world today than cybercrime!
Even the massive global drug trade has taken a second place seat in earnings compared to this electronic phantom.
Cybercrime has finally won the dubious global recognition as king of all the illegal criminal activities known to man.
Saying this type of criminal activity poses significant challenges for law enforcement and the criminal justice system in today’s modern society is a gross understatement.
The problem has grown so quickly and spread so profusely on the back of everyday advances in modern communications technology, that it can no longer be fought by any one country alone.
The continuing globalization of computer networks and digitalization of sensitive information and data, while a normal part of any growing economy have made it even easier for cyber-criminals to not only exist, but to flourish.
A united effort through international co-operation between countries affected by this cyber plight is a pre-requisite of any concerned government.
At present there is only one binding international treaty on cybercrime and this is headed by the Council of Europe Convention on Cybercrime.
Forty three nations have signed this treaty with the EEC, including the United States, Canada, Japan and the Republic of South Africa.
Australia is also in the process of enacting key legislation amendments, such as the Cybercrime Legislation Amendment Bill 2011, which sets the legislative framework needed for Australia to join the Council of Europe Convention on Cybercrime.
Cybercrime due to its very nature is unlike any other form of illegal activity in the world today.
There are so many variables to be taken into account before governments and law enforcement agencies can proceed to tackle this systemic problem on larger more effective scales.
As with any new advancement that springs from breaking technology it’s complicated!
There are many issues for governments and lawmakers to consider, including privacy and freedom issues, to the more basic fundamental human rights when dealing with so much sensitive data.
Cybercrime affects billions of dollars annually giving it precedence and the number one spot on today’s most wanted list.
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