CLOUD COMPUTING: GLOBAL ECONOMICS AFFECTED WITH CYBER CRIME AND LEGISLATION ISSUES

Abstract

Cyber-crime is the fastest growing crime in the world with millions of people being affected every day. The financial losses accruing from cybercrime fraud is doubling every year. Yet less than half of the cybercrime instances are reported to the authorities. This means that the situation is worse than it seems to be. This paper discusses the implications of cyber-crime on the social-economic development of a country. Cyber-crime is emerging as a serious threat. Worldwide governments, police departments and intelligence units have started to react. Initiatives to curb cross border cyber threats are taking shape. Indian police has initiated special cyber cells across the country and have started educating the personnel. This article is an attempt to provide a glimpse on cyber-crime in India. This article is based on various reports from news media and news portal crime.