Impacts of Financial Cybercrime on Institutions and Companies | ||
| المجلة العربية للآداب والدراسات الإنسانية | ||
| Volume 8, Issue 30, February 2024, Pages 477-488 PDF (846.44 K) | ||
| Document Type: المقالة الأصلية | ||
| DOI: 10.21608/ajahs.2024.341707 | ||
| Author | ||
| Dina Taman | ||
| PhD in Political Science - Faculty of Economics and Political Science - Cairo University | ||
| Abstract | ||
| Since the invention of the Internet, the face of the world has changed beyond imagination. It represents a revolution in the field of communication between humans, and the transfer of all information and services we might need. Despite all the positive impacts of the Internet in our lives, there are negative impacts that emerged as a result of the digital transformation, especially during the period of Covid 19 , in which people’s dependence on working through the Internet increased as a result of the preventive measures taken to confront the deadly virus. We find that the world incurred huge losses in 2021, approximately 6 trillion dollars today as a result of cybercrime, after it was 3 trillion dollars in 2015. Which is equivalent to the third largest economy in the world after the United States and China. It is worth noting that the cost of global cybercrime is expected to increase by 15% annually over the next five years, to reach $10.5 trillion annually by 2025. It is expected that these losses will be borne by companies and institutions, whether large or small, due to the changing patterns of cybercrime as they target more companies and organizations instead of focusing on individuals since 2020. Therefore, this research paper discusses the main question “what are the impacts of cybercrime on companies and institutions? “Firstly, by studying the cybercrime and its different forms and challenges. Secondly, the ability to implement cyber security in companies and institutions in the light of international experiences. | ||
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