Cyber-crime profits reached $3.5bn in 2019, says FBI

Criminals netted $3.5bn (£2.7bn) from cyber-crimes reported to the FBI alone in 2019, according to the service's internet crime complaint centre (IC3).

It received 467,361 complaints from individuals and businesses during the year and has had nearly five million since its inception in 2000.

Phishing and extortion remain the most popular ways of scamming people.

It says techniques are becoming more sophisticated, making it harder for people to tell "real from fake".

Davos: The clock is ticking on climate change but cyber crime and emerging technologies add to risks

For the first time in history, the greatest and most pressing risks facing humanity are risks to the environment.

Extreme weather, the failure to tackle climate change, natural disasters and water shortages will have a catastrophic impact on populations.

Over the past 15 years of forecasts by the World Economic Forum, the most pressing risks facing the world have shifted from economic threats to the risks posed by cyber wars and technological dystopia.

Cybercrime laws need urgent reform to protect UK, says report

Britain’s cyber-defences are being endangered by the outdated Computer Misuse Act, which prevents investigators from dealing effectively with online threats while over-punishing immature defendants, according to a legal report.

Thirty years after hacking became a criminal offence, a study by the Criminal Law Reform Now Network (CLRNN) calls for urgent revision of the legislation governing illegal access to computers, denial of service attacks and other digital crimes.

Coaxing Cops To Tackle Cybercrime? There's An App For That

Cybercrime is booming, and victims are often at a loss about where to get help.

In theory, Americans should report the crimes to the FBI, via its Internet Crime Complaint Center. In practice, the feds get hundreds of thousands of complaints a year, and have to focus on the biggest cases.

But the other option, calling the police, can seem even less promising.

Army of hi-tech police reservists could help tackle cyber crime crisis, senior officer claims

Britain should recruit an army of volunteer police reservists to help tackle the growing cyber crime crisis, a senior police leader has suggested.

Paul Griffiths, president of the Police Superintendents' Association, said forces would never be able to compete with private firms when it came to recruiting the brightest and best from the IT world.

But he said one answer might be to create a reservist police force - along similar lines to the military - allowing cyber security experts and other specialists to volunteer to help alongside full time warranted officers.

DFSA launches initiative against cybercrime

The Dubai Financial Services Authority (DFSA) is initiating a cyber threat intelligence platform in partnership with the Dubai Electronic Security Centre, the National Computer Emergency Response Team and the Computer Incident Response Center Luxembourg. The platform, which is scheduled to go live in January 2020, will help companies in the Dubai International Financial Centre strengthen their cyber security framework and minimize any cyber risks.

What’s been done to fight cybercrime in East Africa

East Africa attracts millions of tourists every year. Over the past 10 years, its earnings from tourism have doubled. Compared to the rest of Africa, the region is experiencing healthy economic growth. This makes it a promising investment destination.

Factors like regional tourism, movement of workers and technology development have catalysed East African integration and cross-border banking.

Many cross-border banks originate from Kenya with branches across the region. One example is Kenya’s Equity Bank, which relies heavily on digital technology. The digital space has many positive attributes but the threat of cybercrime and insecurity is prevalent.