Investors Trading Academy: Glossary of Financial Terms

Word of the Day: Cyber-Crime

Definition

• Cyber-crime involves activities such as:
  • Raiding bank accounts
  • Stealing information from companies
• Related to computer crime, which involves a computer and a network.
  • The computer can be used in committing a crime or can be the target.

Characteristics

• Committed against individuals or groups with criminal intent.
• Aimed at harming the victim's reputation or causing physical/mental harm or loss.
• Utilizes modern telecommunication networks:
  • Internet chat rooms
  • Emails
  • Notice boards and groups
  • Mobile phones
• Can threaten national security and financial health.

Notable Issues

• High-profile concerns include:
  • Hacking
  • Copyright infringement
  • Child pornography
  • Child grooming
• Privacy concerns arise when confidential information is intercepted or disclosed.

Cyberwarfare

• Involves activities that cross international borders.
• Engages the interests of at least one nation state.

Legal Response

• The international legal system's response:
  • International Criminal Court is attempting to hold actors accountable for actions.