World Cybercrime Index: India Ranks 10th Globally in Cybercrime Study

April 13, 2024

Researchers have created the first “World Cybercrime Index” to identify the most significant sources of cybercrime at a national level. The index has been developed by researchers from the University of Oxford, University of New South Wales, Monash University, and Sciences Po. The report has identified the countries that are the most significant sources of cybercriminal activity. The index was created by surveying 92 leading cybercrime experts worldwide.

The Cost of Cybercrime

Cybercrime is estimated to cost the world around $9.22 trillion in 2024. This figure is expected to grow to $13.82 trillion by 2028. Locating cybercriminals is challenging due to their use of methods to conceal their locations. Documented legal cases only capture a small portion of the global scenario.

Methodology

Researchers surveyed leading cybercrime experts to identify the biggest hubs of five categories of cybercrime:

Technical products or services
Attacks and extortion
Data or identity theft
Scams
Cashing out or money laundering

Expert focus groups and pilots were used to refine the survey.

Key Findings

Cybercriminal threats originate from a small number of countries.
China, Russia, Ukraine, the United States, Romania, and Nigeria ranked in the top 10 for each of the five selected categories.
97 countries were named by at least one expert as a hub for a particular category
India ranked 10th on the index, with scores of 7.90 for impact, 6.60 for professionalism, and 6.65 for technical skills
Russia and Ukraine held the top two positions, while China and the United States ranked 3rd and 4^th.
Certain types of cybercrimes were associated with specific countries (e.g., data and identity theft with the United States, technical products or services with China)

The research also found that different countries specialize in different types of cybercrime, with Russia and Ukraine being highly technical hubs, while Nigerian cybercriminals are engaged in less technical forms of cybercrime.

India was found to specialize in scams and was labelled as a “balanced hub” specializing in mid-tech crimes.

About cybercrimes

Cybercrime refers to criminal activities that are carried out using computers and the internet. This includes hacking, phishing, identity theft, online fraud, and cyberbullying. The different terms on Cybercrime are as follows:

Hacking: Unauthorized access to computer systems, networks, or devices to steal data or cause damage.
Malware: Malicious software designed to disrupt, damage, or gain unauthorized access to computer systems (e.g., viruses, trojans, worms, ransomware).
Phishing: Fraudulent attempts to obtain sensitive information by disguising oneself as a trustworthy entity in electronic communication.
Identity Theft: The fraudulent acquisition and use of an individual’s personal information for financial gain or other illicit purposes.
Cyberstalking: Using electronic communication to harass, intimidate, or threaten an individual.
Online Scams: Fraudulent schemes conducted via the internet to trick people into sending money or revealing personal information.
DDoS (Distributed Denial of Service) Attack: Overwhelming a server, network, or website with traffic from multiple sources to disrupt its normal functioning.
Botnet: A network of compromised computers controlled by a hacker to perform coordinated attacks or distribute malware.
Ransomware: Malware that encrypts a victim’s files and demands a ransom payment for the decryption key.
Cryptojacking: Unauthorized use of a computer’s processing power to mine cryptocurrencies.
Cyber Espionage: The use of computer networks to gain unauthorized access to confidential information, typically for strategic, economic, or political advantage.
Whaling: A type of spear phishing that targets high-profile individuals, such as executives or senior management, to steal sensitive corporate information.
Smishing (SMS Phishing): Phishing attempts conducted through SMS text messages, often directing users to click on malicious links or provide personal information.
Vishing (Voice Phishing): Fraudulent phone calls where the attacker impersonates a legitimate entity to trick the victim into revealing sensitive information.
Pharming: Redirecting users from a legitimate website to a fake one designed to steal information, often by manipulating DNS settings or hosts files.

Cybercrime targets individuals, businesses, and governments, with the goal of stealing sensitive information or causing financial harm. It is a growing threat due to the increasing reliance on technology in our daily lives. To combat cybercrime, individuals and organizations must take steps to secure their online information, such as using strong passwords and being cautious of suspicious emails or websites.

Implications and Limitations

The World Cybercrime Index could help target preventive efforts at specific “hub countries”. However, the study has limitations due to the small and potentially unrepresentative pool of experts. Inaccuracies may arise from different interpretations of survey questions by experts. The index also does not address the blurred lines between profit-driven cybercrime and state-protected or state-encouraged crime.

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