Cybercrime: bigger than the drugs trade, and growing
Posted in: Legal, Privacy & Security at 02/12/2010 16:57
[AFP] Until Eoin Blackwell arrived at his Sydney home from a Christmas party, he had no idea his bank account had been emptied from half-a-world away.
Blackwell's personal details were stolen by a Romanian card-skimming gang and sold to criminals in Italy. While he relaxed with friends in a pub, the thieves withdrew $US3000 ($3094) from his account.
Blackwell is among the 65 per cent of the world's two billion internet users estimated to have fallen victim to cyber crime, a trade so lucrative it is thought to be worth several times more than the illegal drugs racket.
EFCC - Nigeria on Cyber Crime Top Ten List
The Economic and Financial Crimes Commission (EFCC) yesterday said Nigeria is now ranked third among the top ten sources of cyber crime in the world just as it said over $557million were lost globally to cyber criminals in 2009.
Speaking yesterday at the first West African Cybercrime Summit in Abuja, EFCC chairman Farida Waziri said after the United States with 65 per cent of cyber criminal activities and the United Kingdom with 9.9 per cent, Nigeria is the next hub of cyber criminals in the world with 8 per cent.