A threat to global security and economy Koushik Mannepalli CMPE 294 What is cybercrime? Types of cybercrime Effects on the global economy Organized cybercrime Conclusion Crime committed using computers as a tool or a target. Motives Bragging rights, Money, returns-to-effort ratio is more. Made lucrative by the growth of e- commerce. Thieves are where the money is. Financial fraud Identity theft Corporate/Government espionage Extortion Software Piracy Techniques used - Denial-of-service attacks Phishing scams Botnets Spamming Phisher sends spoofed e- mails to users. User clicks link to fraudulent website. User information logged is sent to dead-drop server. Collected information is sold to the highest bidder. Annual estimated losses of $ Billion. Corporate espionage costs $60 million annually. 60% of U.S. businesses believe cybercrime is more costly than physical crime IBM survey. Average annual loss due to cybercrime has doubled this year. 84% of IT executives believe organized criminal groups are replacing lone hackers. Cyber-terrorism is the next level of cybercrime. Cyber criminals are not associated with any particular region. User is the weak link in the system and awareness is required. Cybercrime is committed in a no mans land. A consistent universal law for cybercrime has to be created. 2.html2.html events/news-archive/us-news-2005/page_ htmlevents/news-archive/us-news-2005/page_ html