Cybercrime Essay Example | Topics and Well Written Essays - 750 words

Cybercrime - Essay Exampleor illustrates also that the capital flight and financial spoofs have increased substantially during the period from 1965 to 2010, from 49 trillion to 1,043 billion USD, respectively. However, it is becoming more difficult to estimate the development of the amount of financial means of multinational crime over time (Schneider 2013, 700). Further the motive describes the most common methods of money laundering and identifies cardinal destination countries that have the largest amount of laundered money among which the leaders are the United States, the Cayman Islands and the Russian Federation. Schneider analyzes the distribute of money laundering activities in relation to the proceeds of cybercrime. Schneider (2013, 692) provides estimates of the various represent components of genuine cybercrime, among which are given(p) estimates for online banking fraud (including phishing, malware (consumers), malware (businesses), bank tech. countermeasures), as well as fake antivirus, copyright-infringing software, copyright-infringing music, patent-infringing pharma, stranded traveler scam, fake escrow scam, and advance-fee fraud. jibe to the estimates during the period 2007-2010, the tot up costs of genuine cybercrime do up $3,457million (Schneider 2013). In addition to the estimates of genuine cybercrime, the author provides estimates of costs incurred by transitional cybercrime, which includes the following online payment card fraud offline payment card fraud indirect costs of payment fraud loss of confidence (both consumers and merchants) (Schneider 2013). The total costs of transitional cybercrime made up $44,200million. Moreover, there are even provided the costs of cybercriminal infrastructure, which include expenditure on antivirus, ISP cleanup expenditures, cost to industry of patching cost to users of cleanup defense costs of firms and expenditure on law enforcement (Schneider 2013). The total costs of cybercriminal infrastru cture made up $24,840 million. And