Source- This post on the World Cybercrime Index has been created based on the article “India ranks number 10 in cybercrime, study finds” published in “Economic Times” on 11 April 2024.
Why in the news?
Recently, an international team of researchers has compiled the ‘World Cybercrime Index’.
About World Cybercrime Index
1. The ‘World Cybercrime Index’ identifies the globe’s key cybercrime hotspots by ranking the most significant sources of cybercrime at a national level.
2. The index was developed through a collaborative effort between the University of Oxford and UNSW Canberra.
3. It is based on data collected from a survey involving 92 top global experts in cybercrime, who specialize in intelligence and investigations related to cyber activities.
4. It ranks roughly 100 countries and identifies key hotspots according to various categories of cybercrime.
5. The five major categories of cybercrime assessed by the study were technical products/services, attacks and extortion, Data/identity theft, Scams, cashing out/money laundering.
6. Key findings from the World Cybercrime Index:
a) Russia tops the list with the highest cybercriminal threat, followed by Ukraine, China, the USA, Nigeria, and Romania.
b) The United Kingdom (UK) ranks at number eight in terms of cybercrime threat.
c) India was ranked 10th in cybercrime, mostly involving scams that trick people into making advance payments.
d) The study indicated that certain types of cybercrime were linked to specific countries. For ex- the U.S.A was predominantly connected with data and identity theft crimes, whereas crimes involving technical products or services frequently traced back to China.
e) The study also found that countries that are cybercrime hubs “specialise” in particular categories. For ex- Russia and Ukraine are highly technical cybercrime hubs, whereas Nigerian cybercriminals are engaged in less technical forms of cybercrime.
f) The worldwide economic impact of cybercrime is projected to significantly increase over the next four years, escalating from $9.22 trillion in 2024 to $13.82 trillion by 2028.
Read more: Cyber attacks and Cyber Security in India
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