Cybercrime costs the global economy an estimated $400 billion a year, and as it grows in scale and sophistication, law enforcement is having to do the same.
The U.S. secret service helped prevent over $1 billion in fraud losses from cybercrime last year, but it is up against skilled and organized international crime networks.
Ed Lowery, a special agent at the U.S. Secret Service Investigative Division, has witnessed the criminals becoming increasingly sophisticated. “What we’ve seen develop over the last 10 to 15 years has been cartel behavior from individuals who … have developed a very, very intricate criminal conspiracy or criminal consortium to commit crimes against assets of the United States, ex-filtrate data and then monetize that data around the world,” he says.
With hackers driven by a desire to make a fast buck, or by political motives, cybercrime and geopolitical tension often go hand in hand. Whether it is China or Russia, this is a major challenge for law enforcement.
Read the entire article at: cnn.com