The Specifics and Patterns of Cybercrime in the Field of Payment Processing
DOI:
https://doi.org/10.6000/1929-4409.2020.09.237Keywords:
Cybercrime, cybersecurity, Internet technologies, payment processing, preventive measures against cybercrime.Abstract
In the modern world, cybercrime in the field of payment processing as a phenomenon is developing rapidly. Highly developed, developing and least-developed states become victims of cyberattacks. The purpose of this study is to analyze the experience of the international community and a number of states in combating cybercrime in the field of payment processing. International and regional (on the example of the Council of Europe) legal regulation of the fight against this type of crime were analyzed. The data on the size of losses caused by cybercrime to the world economy are analyzed according to the latest report from the Center for Strategic and International Studies for 2018, the World Economic Forum for 2019, DLA Piper GDPR for the period January-April 2020. Besides, using the example of the Russian Federation, quantitative indicators of the growth of cybercrime and the level of its detection for the period from 2018 to April 2020 were investigated. Comparison of the experience of individual states and its analysis made it possible to single out the best possible measures to counter cybercrime in the field of financial processing. The necessity of interstate cooperation to counter cybercrime in the field of payment processing is indicated. However, due to the presence of significant differences in the legal systems of all states, it is proposed to interact within the framework of regional communities with gradual transfer to international interaction. The priority is given to precisely preventive measures to counter cybercrime in the field of payment processing.
References
Anderson, R., Barton, C., Bölme, R., Clayton, R., Ganán, C., Grasso, T., &Vasek, M. (2019). Measuring the changing cost of cybercrime. In The 2019 Workshop on the Economics of Information Security. Boston, US.
Boin, A., Bynander, F., Jann, W., Schulze-Gabrechten, L., Lodge, M., Lægreid, P., ... &Ryssdal, A. (2019). Institutional Arrangements within the Field of Societal Security and Crisis Management in Germany, Norway, Sweden, the Netherlands and the UK 2018. In Societal Security and Crisis Management (pp. 361-387). Palgrave Macmillan, Cham. https://doi.org/10.1007/978-3-319-92303-1_19 DOI: https://doi.org/10.1007/978-3-319-92303-1_19
Center for Strategic and International Studies (2018). Economic Impact of Cybercrime. Retrieved from https://www.csis.org/analysis/economic-impact-cybercrime
Center for Strategic and International Studies (2020). Cybersecurity and the Problem of Interoperability. Retrieved from https://www.csis.org/analysis/cybersecurity-and-problem-interoperability
Chernov, S.B. (2016). Money laundering as a threat to the security of the Russian economy. University Bulletin (State University of Management), 2, 98-105.
Chernov, S.B. (2019). The policy of combating the financing of terrorism: definition and threats in the conditions of artificial intelligence market development. Economic Sciences, 7, 81 – 88.
DLA Piper’s Cybersecurity and Data Protection Team (2020). DLA Piper GDPR data breach survey.
Gercke, M. (2011). 10 years Convention on Cybercrime: Achievements and Failures of the Council of Europe's Instrument in the Fight against Internet-related Crimes. Computer law review international, 5, 142-149. https://doi.org/10.9785/ovs-cri-2011-142 DOI: https://doi.org/10.9785/ovs-cri-2011-142
Global Cybersecurity Index (GCI) 2018 (2018). Retrieved from https://www.itu.int/dms_pub/itu-d/opb/str/D-STR-GCI.01-2018-PDF-E.pdf
International Telecommunication Union (2019). Most of the offline population lives in least developed countries. Retrieved from https://itu.foleon.com/itu/measuring-digital-development/offline-population/
Internet Research Institute (2019) Analysis of the United States' cybersecurity strategic planning documents. Moscow.
Jain, A. (2020). Cyber Crime. National Journal of Cyber Security Law, 2(2).
Kathuria, S., Grover, A., Perego, V. M. E., Mattoo, A., & Banerjee, P. (2019). Unleashing e-commerce for South Asian integration. The World Bank. https://doi.org/10.1596/978-1-4648-1519-5 DOI: https://doi.org/10.1596/978-1-4648-1519-5
Klochkova, E., Tyurina, Y., Chernov, S., &Glembotskaya, G. (2019). Methods for evaluating economy information potential. RevistaEspacios, 40(38).
Korobeyev, A. I., Dremlyuga, R. I. &Kuchina, Y. O. (2019). Cybercrime in the Russian Federation: criminological analysis. All-Russian Criminological Journal, 13(3). https://doi.org/10.17150/2500-4255.2019.13(3).416-425 DOI: https://doi.org/10.17150/2500-4255.2019.13(3).416-425
Kosolapov, Y. V., Kostromina, E. A. &Sivova, A. A. (2018). Cybercrime in the financial services industry. Economics and Law, 118, 25-29.
Lakomov, A. S. (2019). Cybercrime: current trends. Academic thought, 2(7), 1-17.
Leukfeldt, E. R. (2014). Cybercrime and social ties. Trends in organized crime, 17(4), 231-249. https://doi.org/10.1007/s12117-014-9229-5 DOI: https://doi.org/10.1007/s12117-014-9229-5
Mandal, A. (2019). Mobile Banking–A Bangladesh Perspective.
Mugari, I., Gona, S., Maunga, M., &Chiyambiro, R. (2016). Cybercrime-the emerging threat to the financial services sector in Zimbabwe. Mediterranean Journal of Social Sciences, 7(3 S1), 135. https://doi.org/10.5901/mjss.2016.v7n3s1p135 DOI: https://doi.org/10.5901/mjss.2016.v7n3s1p135
Nagurney, A. (2015). A multiproduct network economic model of cybercrime in financial services. Service Science, 7(1), 70-81. https://doi.org/10.1287/serv.2015.0095 DOI: https://doi.org/10.1287/serv.2015.0095
Nazmeyeva, L. R. (2020). The digital transformation of the economy: the impact on crime and the issues of its prevention. Bulletin of the Kazan Law Institute of the Ministry of Internal Affairs of Russia, 11(1(39)).
Orji, U. J. (2019). A Review of the ECOWAS Cybercrime Directive. Computer Law Review International, 20(2): 40-53. https://doi.org/10.9785/cri-2019-200204 DOI: https://doi.org/10.9785/cri-2019-200204
Ospanov, B. I., Nurusheva, A. M. &Nurushev, M. Zh. (2019). About new joint methods of protection against cyberattacks in Kazakhstan. Bulletin of the Orenburg Scientific Center of the Ural Branch of the Russian Academy of Sciences, 1, 28-34.
Positive Technologies & Microsoft (2019). Assessment of cyber security of Russian business. Retrieved from https://3er1viui9wo30pkxh1v2nh4w-wpengine.netdna-ssl.com/wp-content/uploads/prod/sites/46/2019/12/Microsoft-%D0%B8-Positive-Technologies_Final.pdf
Raghavan, A. R., & Parthiban, L. (2014). The effect of cybercrime on a Bank’s finances. International Journal of Current Research & Academic Review, 2(2), 173-178.
United Nations (2000). Convention against transnational organized crime. General Assembly Resolution 55/25.
Urban, V., Kniazhev, V., Maydykov, A., &Yemelyanova, E. (2019). Implementation of the law enforcement function of the state in the field of countering crimes committed using the internet. In Big Data-driven World: Legislation Issues and Control Technologies (pp. 113-120). Springer, Cham. https://doi.org/10.1007/978-3-030-01358-5_11 DOI: https://doi.org/10.1007/978-3-030-01358-5_11
WeulenKranenbarg, M., Holt, T. J., & Van Gelder, J. L. (2019). Off ending and victimization in the digital age: Comparing correlates of cybercrime and traditional offending-only, victimization-only and the victimization-offending overlap. Deviant Behavior, 40(1), 40-55. https://doi.org/10.1080/01639625.2017.1411030 DOI: https://doi.org/10.1080/01639625.2017.1411030
World Economic Forum (2019). Regional Risks for Doing Business. Insight Report. https://doi.org/10.1016/S1361-3723(19)30016-8 DOI: https://doi.org/10.1016/S1361-3723(19)30016-8
Yakimova, E. M. &Narutto, S. V. (2016). International cooperation in the fight against cybercrime. All-Russian journal of criminology, 10(2): 45-66.
Downloads
Published
How to Cite
Issue
Section
License
This work is licensed under a Creative Commons Attribution-NonCommercial 4.0 International License.
Policy for Journals/Articles with Open Access
Authors who publish with this journal agree to the following terms:
- Authors retain copyright and grant the journal right of first publication with the work simultaneously licensed under a Creative Commons Attribution License that allows others to share the work with an acknowledgement of the work's authorship and initial publication in this journal.
- Authors are permitted and encouraged to post links to their work online (e.g., in institutional repositories or on their website) prior to and during the submission process, as it can lead to productive exchanges, as well as earlier and greater citation of published work
Policy for Journals / Manuscript with Paid Access
Authors who publish with this journal agree to the following terms:
- Publisher retain copyright .
- Authors are permitted and encouraged to post links to their work online (e.g., in institutional repositories or on their website) prior to and during the submission process, as it can lead to productive exchanges, as well as earlier and greater citation of published work .
