715 Words Feb 7th, 2018 3 Pages
As businesses and commerce transactions have moved online as software and websites are the medium through which funds are exchanged, cyber theft has taken alarming proportions. Initially the fear with a hacked computer meant that someone's internet time would be stolen, but as banks introduce branchless banking and online payments have rendered the exchange of cash currency useless cyber crime has become a significant crime. In this context officials at state level are involved in getting their hands on the culprits engaging in such activities. The article, 'U.S. Shuts Down Massive Cyber Theft Ring ' (Bartz & Finkle, 2011) is also one such piece that talks about how U.S officials shut down a ring of cyber crime which was involved in theft worth $100 million with two million personal computers affected worldwide.
Cyber Crime used to be easy in the past where there were many gaps in computer security. But today while there are gangs that are using advanced technology such as Coreflood to infiltrate computer systems to extract information that was then used to hack into victims accounts.
The fact that the World Wide Web is without borders, also means that the criminal gangs can be from many different countries each of which would have a…
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