cyber crime Cyber crime encompasses any criminal act dealing with computers and networks (called hacking). Additionally, cyber crime also includes traditional crimes conducted through the Internet. For example; hate crimes, telemarketing and Internet fraud, identity theft, and credit card account thefts are considered to be cyber crimes when the illegal activities are committed through the use of a computer and the Internet. A report (sponsored by McAfee) estimates that the annual damage to the global economy is at $445 billion; however, a Microsoft report shows that such survey-based estimates are "hopelessly flawed" and exaggerate the true losses by orders of magnitude.Approximately $1.5 billion was lost in 2012 to online credit and debit card fraud in the US. In 2016, a study by Juniper Research estimated that the costs of cybercrime could be as high as 2.1 trillion by 2019.
Most measures show that the problem of cybercrime continues to worsen. However, Eric Jardine argues that the frequency, cost and severity of cybercrime cannot be well understood as counts expressed in absolute terms. Instead, these numbers need to be normalized around the growing size of cyberspace, in the same way that crime statistics in the physical world are expressed as a proportion of a population (i.e., 1.5 murders per 100,000 people). Jardine argues that, since cyberspace has been rapidly increasing in size each year, absolute numbers (i.e., a count saying there are 100,000 cyberattacks in 2015) present a worse picture of the security of cyberspace than numbers normalized around the actual size of the Internet ecosystem (i.e., a rate of cybercrime). His proposed intuition is that if cyberspace continues to grow, you should actually expect cybercrime counts to continue to increase because there are more users and activity online, but that as a proportion of the size of the ecosystem crime might actually be becoming less of a problem
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