WSEAS Transactions on Business and Economics


Print ISSN: 1109-9526
E-ISSN: 2224-2899

Volume 18, 2021

Notice: As of 2014 and for the forthcoming years, the publication frequency/periodicity of WSEAS Journals is adapted to the 'continuously updated' model. What this means is that instead of being separated into issues, new papers will be added on a continuous basis, allowing a more regular flow and shorter publication times. The papers will appear in reverse order, therefore the most recent one will be on top.

Volume 18, 2021


Combating Cybercrime: Economic and Legal Aspects

AUTHORS: Olena V. Sviatun, Olga V. Goncharuk, Chernysh Roman, Olena Kuzmenko, Ihor V. Kozych

DOI: 10.37394/23207.2021.18.72
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ABSTRACT: Cybercrime threatens the national security of different countries around the world. The growth of cyberattacks destabilizes the international order and disrupts the normal functioning of international relations. The purpose of the academic paper is to analyze the causes and economic consequences of the level of cybercrime in the world and to identify modern legal arrangements to combat cybercrime. In order to achieve the purpose outlined, the following methods have been used, namely: the method of comparison, analysis, element-theoretical method, method of generalization and analogy. It has been established that the level of cybercrime in the world and the economic consequences of its impact tend to increase. It is estimated that in 2020 the total cost of cybercrime and cybersecurity will exceed one trillion US dollars, which is more than 1% of world gross domestic product. The reasons have been determined why the number of cybercrimes are increasing (electronization and computerization of most industries, public sector; low level of operational cooperation; inconsistency of legal policy with the realities of cybercrime; development of cyber-attack mechanism; modernization of cybercrime; obstacles to international cooperation and so forth). The cause and effect interrelationship between the level of cybercrime, cybersecurity and legal methods of counteraction in different countries of the world has been proven. Three interrelated ways of the legal mechanism of counteraction to cybercrime have been offered, namely: the general, organizational and preventive ones. The expediency of international cooperation in the development of global strategies and other measures to combat cybercrime has been emphasized

KEYWORDS: Cybercrime, Cybersecurity, Cyber Attack, cybercrime legislation, Cost of Cybercrime, Economic Consequences.

Wseas Transactions on Business and Economics, ISSN / E-ISSN: 1109-9526 / 2224-2899, Volume 18, 2021, Art. #72, pp. 751-762


Copyright Β© 2021 Author(s) retain the copyright of this article. This article is published under the terms of the Creative Commons Attribution License 4.0