GFC causing the young to turn to cybercrime

06.05.2011
The GFC-induced economic slowdown in Europe is having a direct impact on the growth of cybercrime and other organised crime according to the European Union's law enforcement agency, Europol.

In a recent report into organised crime, the agency said the recent economic crisis had resulted in a surplus of young people with advanced technical skills who were vulnerable to involvement in criminal activity.

"Since the legitimate employment market is likely to be constrained for some years to come, and taking into consideration the example of the Former Soviet Union, it is entirely plausible that an increasing number of unemployed EU citizens will engage in cybercrime or facilitate organised crime on the Internet in the coming years," the report reads. Compounded by a lack of career opportunities, students were also being hired direct from educational institutions by organised crime organsiations, Europol said.

"The high-tech nature of cybercriminal activity results in a demographic profile not traditionally associated with transnational organised crime -- namely, young, highly skilled individuals who are often recruited from universities," the report reads.

"These features find analogies in hacker culture more generally, where absence of hierarchy, celebration of technical proficiency and comparative youth are prevailing characteristics."

According to the report the Internet has become a communication tool, information source, marketplace, recruiting ground and financial service for organised crime helping facilitate illicit drug extraction, synthesis and trafficking, trafficking in human beings, illegal immigration, tax fraud, counterfeiting and trade in prohibited firearms.