Tech crimes root of all serious crimes

Many serious crimes are fueled by tech crimes, according to a study by Europol. The study is published every four years by Europe’s police agency.

According to a Reuters report, serious organised crime such as drugs and people trafficking is often facilitated by tech crimes such as document fraud, money laundering and online trading in illegal goods.

While in the online arena, cybersecurity is a major concern, traditional crimes are increasingly relying on technology. Crimes like drug trades uses drones, burglars using computers to scout neighbourhoods online and track social media posts to see when people are away from home. Currently, drug trafficking remained the largest criminal market in the European Union, generating around 24 billion euros ($25 billion) of profit per year.

According to Europol, there are around 5,000 international crime groups under investigation, with members from more than 180 nationalities. Human smuggling and trafficking is increasingly a money mine, with wars around Middle East and Africa pushing illegal migrants seeking refuge or asylum to the EU.

Another major concerns is regarding ransomware – where a computer program locks access to files from a user or owner of the computer, in order to extort money in exchange for a key. This has been a major concern not only for European countries, but also increasingly in the Southeast Asian region.

In fact, ransomware has been making headlines, including many banks and universities around the region getting locked out with a price tag in the 6-figures in USD.

 

 

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