Annual global cost of cybercrime: $600 Billion USD (0.8% of GDP)Source: https://www.cnbc.com/2018/02/22/cybercrime-pandemic-may-have-cost-the-world-600-billion-last-year.html
Expected global cost of cybercrime in the next 5 years: $USD5.2 trillionSource: https://www.accenture.com/au-en/insights/security/cost-cybercrime-study
USA: “Third Way’s analysis estimates that the enforcement rate for reported incidents of the IC3 database is 0.3%. Taking into account that cybercrime victims often do not report cases, the effective enforcement rate estimate may be closer to 0.05%.”[Ref]
Cybercrime in the US
Every state has computer crime laws, but state and local prosecutors bring hacking charges in only a small handful of cases (child-exploitation images are, rightly, considered separately, and that’s where most cyber-savvy cops spend much of their time). There’s no Texas database that tracks cybercrime prosecutions. The largest prosecutor’s offices in the state report prosecuting low single-digit numbers of cyber cases over the last five years.
Few nonfederal prosecutors have cyber prosecution training, let alone experience. Some local prosecutors don’t understand the basics of cybercriminal scheme economics. Cybercrime investigations seem complicated and are definitely confusing to a jury. Business victims often want to stop talking about a cyber breach as soon as possible. All this and more means prosecutors don’t usually go out of their way to encourage cops to pursue these cases.
With all this going against them, and with lots of calls to handle, officers have learned not to take cybercrime cases seriously. It’s not that they’re unwilling, but police have very limited resources. No supervisor will let a cop investigate a crime that he knows won’t be prosecuted. It’s not even usually considered “real” police work. Like other “cybercops,” I am the target at work of a range of good-natured jokes about video games and Internet porn.
“Not only is the current wave of cybercrime largely unseen, but the chances of being successfully investigated and prosecuted for a cyber attack in the US are now estimated at 0.05%.
Cybercrime in the UK
Just one in 100 cases is investigated despite the number of online fraud cases rocketing in recent years.
In the past year there have been 3.2million frauds, but these have resulted in fewer than 9,000 convictions.
Cybercrime in Australia
Cybercrime cost Australia over $4.5 billion last yearSource: https://www.abc.net.au/news/2018-09-12/cybercrime-cost-australia-over-45-billion-last-year/10231640
Over the past five years the number of scam reports received has increased by 94 per cent.
The ACORN had received more than 65,000 reports – in November 2014 to June 2016 – from individuals when the AIC was asked to do its evaluation of the service.
In terms of investigations, available data found less than 1% of ACORN reports resulted in an investigation that successfully identified an offender, and less than 1% of further reports resulted in a successful prosecution. Of the victims surveyed, only three reported that they were notified their offender had been apprehended.
ACORN is run by the Australian Criminal Intelligence Commission, which said in its latest annual report that there were 41,341 reports to ACORN in 2015/16 with about 76 per cent of them referred on to police.
Source: ABC.net.au source
More cybercrime statistics
Law enforcement has to get serious about cyber crime