World Cybercrime Index Reveals Top Hubs of Cybercriminal Activity

On 10th April 2024, researchers developed new index highlighting major contributors to global cybercrime, with China, Russia, Ukraine, the US, Romania, and Nigeria among top-ranked countries.

Key Points

Magnitude of Cybercrime: Global cybercrime costs estimated at $9.22 trillion in 2024, projected to reach $13.82 trillion by 2028, posing significant challenges for cybersecurity efforts.
Methodology: Researchers from leading institutions conducted a survey among 92 cybercrime experts worldwide to identify major hubs and categories of cybercrime.
Survey Findings: Top-ranking countries for various cybercrime categories include China, Russia, Ukraine, the US, Romania, and Nigeria, highlighting concentrated sources of cyber threats.
India's Position: India secured the 10th spot in the index, scoring 7.05 overall, with notable impact, professionalism, and technical skills, comparable to China and the US.
Specialized Cybercrimes: Certain countries are associated with specific cybercrime categories, such as the US with data and identity theft, and China with technical products or services-related crimes.
Future Implications: The index aids cybercrime research by identifying key countries for targeted preventive efforts, enhancing global cybersecurity strategies.
Limitations: Study acknowledges limitations, including a small pool of experts and potential interpretational biases, underscoring the need for further research and data refinement.