Open AccessUNDERSTANDING CYBER CRIME AND CYBER LAUNDERING: THREAT AND SOLUTION
Author(s) -
Dr.M.Suganya Aravazhi
Publication year - 2020
Publication title -
epra international journal of research and development
Language(s) - English
Resource type - Journals
ISSN - 2455-7838
DOI - 10.36713/epra3902
Subject(s) - cybercrime , cyber crime , money laundering , computer security , payment , cyber space , identity theft , personally identifiable information , internet privacy , botnet , computer science , business , the internet , world wide web , finance
Cybercrime is an illegal action committed in the area of ITC and it is high speed, low cost and high tech offence. This kind of activity usually involves a modification of a conventional crime by using computers. The term ‘cyber-laundering’ is the practice of money laundering carried out in cyber space through online transactions. This article presents the meaning of cyber laundering dealing with offences concerned with the abuse of computers or other electronic gadgets. Cyber criminals also target at loopholes of mobile devices and the threats are growing faster than it does on personal computer. An effective legal frame work for combating cybercrime is important to develop the correct conceptual apparatus. Cyber criminals often favour those e-commerce portals and payment system where a great number of personal information and credit card data are being stored and processed. On the whole, an effective anti-cybercrime strategy is the need of the hour.KEY WORDS: Cybercrime, Money laundering, Information technology, Cyber security, Electronic gadgets, Financial services.