Issue 15 (2020)

Socio-economic analysis of cybercrime

Abstract: In the presented article, the author analyzes socio-economic damage caused and expected as a result of cybercrime, a global and transnational threat. In parallel, with the development of technology and the growing dependence of the population on internet resources in the digital era, there are discussed dangers of blooming opportunities for cybercriminals and harm imposed by their actions. Taking into account the scale of the proceeds of crime, the author of the article presumes that cybercrime has formed into organized criminal business and has become a threat not only to the security of states and proper functioning of their institutions but also to the property and assets of citizens and enterprises, banks and fund institutions. According to the author, even the rules implemented by countries with a strong economy and developed technologies, and the refinement/ development of methods to combat this crime, will not bring results and will not be effective, since cybercrime is global and transnational by its nature. To accomplish the goals effectively, response to this challenge should be comprehensive, based on unified, well-established international policy. This only can be achieved through close interstate cooperation and instant (bypassing bureaucratic formalism) mutual legal assistance.

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