Cybercrime has been steadily rising each year. What is driving the rise in cybercrime? Here are some reasons behind its growth:
Challenges such as identity theft can have serious repercussions for individuals, leading not only to potential financial losses but also considerable personal distress.
The internet provides numerous services that facilitate money laundering, often making it a straightforward process. With transactions conducted in cryptocurrency, tools like tumblers complicate the tracking of funds.
Tumblers are services that break down cryptocurrency transactions and route the money through multiple accounts, using varying amounts for thousands of users, which makes it difficult to trace.
Who are cybercriminals? They can be anyone, but let’s take a look at some common types frequently reported in the media:
| Note: Cryptocurrency is a form of digital money, distinct from physical currency. While Bitcoin is a widely known example, many other lesser-known cryptocurrencies exist. These currencies utilize strong cryptography and public ledger systems to monitor transactions and the overall supply in the market. |
Cybercriminals can easily remain anonymous and often avoid capture. When they are caught, it’s usually due to their own mistakes, such as becoming complacent. Additionally, law enforcement can leverage apprehended cybercriminals to expose others in the field.
Law enforcement faces significant challenges in tracking cybercrime. For instance, an attack might appear to originate from a system in the UK, but upon investigation, it could be remotely controlled from another system in India. While cooperation with international law enforcement may lead to the Indian system, it could turn out to be controlled from yet another location, such as Pakistan.
