Consequences of Cyber Crime Phenomena for Developing Countries
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Abstract

Purpose – The world wave of detail and communication technologies (ICT) expansion has turn out to be a brawny driving force in about each feature of expansion. This paper intends to discover the bang of cyber crime on developing countries mainly in terms of economic losses. Findings – The paper in general terminates that the internet is crushingly strong equipment for expansion. Inconsistently, the internet is a “double-edged sword,” offering several choices for peoples and associations to expand except at the similar time, has carried out with it fresh choices to execute crime. The paper disputes that the internet shows fresh confronts to law enforcement in every expanded and budding nations. Conversely, budding nations endure significantly as of the actions of internet crime than their expanded counterparts as budding nations have insufficient expertise, infrastructure and deficient law enforcement proficiency.

Consequences of Cyber Crime Phenomena for Developing Countries

Cyber crime means any act of crime through computers and networks; in general this act is called hacking. Moreover, this crime also comprises conventional crimes performed by the Internet. As an example; theft of identity, hate offenses, credit card account thefts, telemarketing and Internet fraud are viewed as cyber crimes when the unlawful activities are conducted by the Internet. Many publications and reports on cybercrime commence by determining the term “cybercrime”. Another example for a global approach is Art. 1.1 of the Draft International Convention to Increase Security from Cyber Crime that indicates cybercrime cites to activities in respect to cyber systems (Nir, 2010, 151-153). Some other explanations attempt to take the intentions into consideration and describe cybercrime in a precise manner, defining it as “computer- interceded acts which are either against the law or viewed illegal by particular parties and which can be performed by Internet (Adam, 2010, 128-132)”. In this modern world, cyber crime is a big issue that's costing developing nations billions of dollars. In accordance to a report, in 2005, in America the rate of cyber crimes was already very high in the world at about 35.5%, and in South Korea at about 12.9% (Nir, 2010, 151-153). Developing countries with towering statistics of computer piracy, like Russia, have responded with very low pace to this issue. Consequently, several cyber criminals and hackers can grow in developing countries with a small number of Internet crime rules whereas assailing well nations through the Internet. In accordance to the Congressional Research Service, many Internet security companies calculate worldwide economic losses from different viruses, worm assails and different hostile approaches to be between 14 and 1225 billion dollars (Jonathan, 2010, 225-228). Now, insurance firms sell the product of cyber-crime insurance and different identity-theft security for clients and also companies in an exertion to elevate confidence and efficiently control the damage. In accordance to the U.S. Government Accountability Office, the evaluated damages for domestic firms influenced by these crimes are about 67.4 billion dollars per annum. The under attacked developing companies also tolerate in the stock business days after an assault with the losses of shareholder of 1% to 6%. Such percentages might appear small, but for the normal firm on the stock exchange of New York City, it can interpret to about 60 - 200 million dollars in the losses of shareholders (Adam, 2010, 128-132). Determining response policies and best solutions to the cybercrime’s threat is a difficult task, mainly for developing countries. A wide-ranging strategy against the cybercrime usually comprises scientific and technical security measures and also lawful instruments. Scientific and technical security measures are actually cost-intensive. In fact, developing countries firmly need to amalgamate security measures into the roll-out of the Internet from the starting point, as even though it might at first raise the Internet services cost, the long-standing benefits in averting the costs and lose imposed by cybercrime are big and far outweigh any primary outlays on scientific security measures and safeguards for network. The threats connected with fragile security measures could actually affect developing nations extremely, because of their low sufficient safety and security. The capability to save clients and organisations is a basic need for their daily businesses as well as for their Internet-based activities.

References

Adam, Mambi, (2010): Ict Law Book. A Source Book for Information and Communication Technologies & Cyber Law in Tanzania & East African Community: Published by African Books Collective: ISBN 998708074X, 9789987080748: 128-132.
Jonathan, Clough, (2010): Principles of Cybercrime: Published by Cambridge University Press: ISBN 0521728126, 9780521728126: 225-228.
Nir, Kshetri, (2010): The Global Cybercrime Industry: Economic, Institutional and Strategic Perspectives: Published by Springer: ISBN 3642115217, 9783642115219: 151-153.

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