Cybercrime Hotspots

This report provides a comprehensive overview of the issue of cybercrime, which the author frames as “the most significant financial threat to institutions and individuals in the United States (U.S.), more so than nation-states or terrorists.” The report summarizes four main findings: 1) the challenge of identifying cybercrime by location, 2) cybercrime is often organized by groups not individuals, 3) organized cybercrime mostly uses the same tactics but “leverage new technologies to better target and execute their criminal objectives”, and 4) cybercrime is driven by a combination of factors such as internet access, technical skills, economic circumstances (high poverty, unemployment), and a permissive legal framework. The article also provides a case study into three main cybercrime hotspots: India, Nigeria, and Mexico. Identifying how to address cybercrime both through laws and regulations, as well as changing the economic conditions which gives rise to cybercrime can be critical in prevent future damage to U.S. infrastructure and financial institutions.