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About the Challenges of Cybercrime in the Digital Age

Author

Listed:
  • Diyana Bankova

    (Academy of the Ministry of Interior of Bulgaria and International Business School – Botevgrad, Bulgaria)

Abstract

With the COVID-19 pandemic and The Fourth Industrial Revolution: Digital Transformation, society is facing a global problem – cybercrime. Every single day, the management of different companies experiences more difficulties in ensuring prevention from hacker attacks. Prevention from cyberattacks is becoming an international problem for businesses, causing significant financial losses. For the aim of the article, some sectors were analyzed – the insurance and banking industry which face the challenge of “cybercrime†because their activities are almost completely digitalized. It is important to notice the arguments of the competent authorities investigating cybercrime. The whole digitalization of the business processes in enterprises requires additional resources for combating this kind of crime. The anonymous nature of these acts also threatens international security. Operational authorities also face these challenges. A change in international law regulation is necessary, in the management directed against digital risks and anomalies in IT security in administration and business.

Suggested Citation

  • Diyana Bankova, 2021. "About the Challenges of Cybercrime in the Digital Age," Godishnik na UNSS, University of National and World Economy, Sofia, Bulgaria, issue 2, pages 109–116-1, December.
    • Handle: RePEc:nwe:godish:y:2021:i:2:p:109-116
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    File URL: http://unwe-yearbook.org/en/journalissues/article/10485
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    More about this item

    Keywords

    cybercrimes; security; management; digitalization; control;
    All these keywords.

    JEL classification:

    • K24 - Law and Economics - - Regulation and Business Law - - - Cyber Law
    • F50 - International Economics - - International Relations, National Security, and International Political Economy - - - General
    • G32 - Financial Economics - - Corporate Finance and Governance - - - Financing Policy; Financial Risk and Risk Management; Capital and Ownership Structure; Value of Firms; Goodwill
    • F38 - International Economics - - International Finance - - - International Financial Policy: Financial Transactions Tax; Capital Controls

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