cybercrime

Cybercrime is a type of crime involving a computer or a computer network. The computer may have been used in committing the crime, or it may be the target. Cybercrime may harm someone's security or finances.Internationally, both state and non-state actors engage in cybercrimes, including espionage, financial theft, and other cross-border crimes. Cybercrimes crossing international borders and involving the actions of at least one nation-state are sometimes referred to as cyberwarfare. Warren Buffett describes cybercrime as the "number one problem with mankind" and said that it "poses real risks to humanity".A 2014 report sponsored by McAfee estimated that cybercrime had resulted in $445 billion USD in annual damage to the global economy. Approximately $1.5 billion was lost in 2012 to online credit and debit card fraud in the US. In 2018, a study by the Center for Strategic and International Studies (CSIS), in partnership with McAfee, concluded that nearly 1 percent of global gross domestic product (GDP), close to $600 billion, is lost to cybercrime each year. The World Economic Forum 2020 Global Risk Report confirmed that organized cybercrime groups are joining forces to commit criminal activities online, while estimating the likelihood of their detection and prosecution to be less than 1 percent in the US. There are also many privacy concerns surrounding cybercrime when confidential information is intercepted or disclosed, legally or otherwise.

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