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A European cybercrime breakthrough is good news but only half the battle

EXPERT COMMENT

While the e-evidence framework is an important step, major differences with other parts of the world must be overcome to achieve real progress in the fight against cybercrime.

Cybercrime is a global challenge on a massive scale. If cybercrime was a country, it would have one of the largest economies in the world. Statista estimates that the cost of cybercrime was $8.15 trillion in 2023. Meanwhile, 37 per cent of large companies in the UK say they have experienced cybercrime in the past year. Why is the cost of cybercrime so high? Because the first rule of cybercrime is that no one goes to prison.

Cybercriminals have reaped the benefits of a decade of virtual impunity largely due to the challenges of sharing data between law enforcement agencies who are working hard to police cyberspace within the constraints of real-world laws.

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Channel website: https://www.chathamhouse.org/

Original article link: https://www.chathamhouse.org/2024/02/european-cybercrime-breakthrough-good-news-only-half-battle

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