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What is Cyber Crime?

Welcome to the Investors Trading Academy talking glossary of financial terms and events. Our word of the day is “Cyber-Crime” Cyber-crime involves activities like raiding bank accounts and stealing information from companies. Computer crime, or cybercrime, is crime that involves a computer and a network. The computer may have been used in the commission of a crime, or it may be the target. Cybercrimes are offences that are committed against individuals or groups of individuals with a criminal motive to intentionally harm the reputation of the victim or cause physical or mental harm, or loss, to the victim directly or indirectly, using modern telecommunication networks such as Internet chat rooms, emails, notice boards and groups and mobile phones such crimes may threaten a nation’s security and financial health. Issues surrounding these types of crimes have become high-profile, particularly those surrounding hacking, copyright infringement, child pornography, and child grooming. There are also problems of privacy when confidential information is intercepted or disclosed, lawfully or otherwise. Activity crossing international borders and involving the interests of at least one nation state is sometimes referred to as cyberwarfare. The international legal system is attempting to hold actors accountable for their actions through the International Criminal Court. By Barry Norman, Investors Trading Academy - ITA