Internet Crime Bitcoin and the Darknet [Video]


Internet Crime

Definition – What does Internet Crime mean?

Internet crime is any crime or illegal online activity committed on the Internet, through the Internet or using the Internet. The widespread Internet crime phenomenon encompasses multiple global levels of legislation and oversight. In the demanding and continuously changing IT field, security experts are committed to combating Internet crime through preventative technologies, such as intrusion detection networks and packet sniffers.

Internet crime is a strong branch of cybercrime. Identity theft, Internet scams and cyberstalking are the primary types of Internet crime. Because Internet crimes usually engage people from various geographic areas, finding and penalizing guilty participants is complicated.

Techopedia explains Internet Crime

Internet crimes, such as the Nigerian 419 fraud ring, are a constant threat to Internet users. The U.S. Federal Bureau of Investigation (FBI) and Federal Trade Commission (FCC) have dedicated and appointed IT and law enforcement experts charged with ending the far-reaching and damaging effects of Internet crime.

Examples of Internet crime legislation include:

  • U.S. Computer Fraud and Abuse Act, Section 1030: Amended in 2001 through the U.S. Patriot Act
  • CAN-SPAM Act of 2003
  • Preventing Real Online Threats to Economic Creativity and Theft of Intellectual Property Act of 2011

As the U.S. works to combat Internet crime, other countries are experiencing increased cybercriminal activity. In 2001, Websense (an organization focused on network abuse research) reported the alarming spread of Internet crime in Canada. This global shift is under review by the Canadian government.

Types of Internet crime include:

  • Cyberbullying and harassment
  • Financial extortion
  • Internet bomb threats
  • Classified global security data theft
  • Password trafficking
  • Enterprise trade secret theft
  • Personally data hacking
  • Copyright violations, such as software piracy
  • Counterfeit trademarks
  • Illegal weapon trafficking
  • Online child pornography
  • Credit card theft and fraud
  • Email phishing
  • Domain name hijacking
  • Virus spreading

To prevent becoming an Internet crime, online vigilance and common sense are critical. Under no circumstances should a user share personal information (like full name, address, birth date, and Social Security number) to unknown recipients. Moreover, while online, a user should remain suspicious about exaggerated or unverifiable claims.

Related Terms

Source: Technopedia


Definition – What does Cybercrime mean?

Cybercrime is defined as a crime in which a computer is the object of the crime (hacking, phishing, spamming) or is used as a tool to commit an offense (child pornography, hate crimes). Cybercriminals may use computer technology to access personal information, business trade secrets or use the internet for exploitative or malicious purposes. Criminals can also use computers for communication and document or data storage. Criminals who perform these illegal activities are often referred to as hackers.

Cybercrime may also be referred to as computer crime.

Techopedia explains Cybercrime

Common types of cybercrime include online bank information theft, identity theft, online predatory crimes, and unauthorized computer access. More serious crimes like cyberterrorism are also of significant concern.

Cybercrime encompasses a wide range of activities, but these can generally be broken into two categories:

  • Crimes that target computer networks or devices. These types of crimes include viruses and denial-of-service (DoS) attacks.
  • Crimes that use computer networks to advance other criminal activities. These types of crimes include cyberstalking, phishing and fraud or identity theft.

The FBI identifies cybercrime fugitives who have allegedly committed bank fraud and trafficked counterfeit devices that access personal electronic information. The FBI also provides information on how to report cybercrimes, as well as useful intelligence information about the latest cybercriminals.

Related Terms

Source: Technopedia

Internet Crime – Bitcoin and the Darknet

The dirty secret about Bitcoin: It’s amplifying ransomware, cybercrime, and more

by Laurel Deppen
As Bitcoin grows in popularity, potential buyers need to be aware of risks that go along with it.

Cryptocurrency is on the rise and creating a lot of potential benefits, but one can’t ignore the startling dark side and risks associated with it as well.

Despite potential benefits, cryptocurrency often gets a bad rap. Cybercriminals are drawn to Bitcoin and other currencies like it due to its anonymity and decentralized system, as reported in a new AhyyGK infographic.

According to NullTX, the darknet has become the place to go for illegal activity online. Because of the anonymous nature of cryptocurrency, it has become the currency of choice for darknet criminals.

According to the infographic, a number of crimes have found a platform through the darknet and cryptocurrency, most notably drugs, money laundering, and ransomware.

The graphic reported that money laundering is a common crime on the darknet. These transactions appear to be “clean” with the anonymous currency and could potentially lead to tax evasion. As noted in the graphic, some 36% of Bitcoin investors knowingly won’t report capital gains or losses from their cryptocurrency.

Hackers also often demand ransoms for locked systems be paid in cryptocurrency as well, in regards to ransomware attacks. As noted in the graphic, Bitcoin is the most popular ransom payment method to avoid law enforcement.

For a deeper look at cryptocurrency internet crime, read the full infographic below.

Internet Crime
Image: NowSourcing/NullTX

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