China’s $46.4 billion became the prey of Internet crimes last year

internet crime

Internet crimes in China cost the country about $46.4 billion (RMB 289 billion) last year as reported by the Global Times.

According to the report published by the People’s Public Security University of China on Sunday, about 700,000 internet users become the prey of internet crime everyday in China. According to the report, Chinese authorities inquired about 118,000 cybercrimes last year as they are as the difficult types of crimes to solve. Moreover, internet crimes have no usual regulations or articles in the criminal law.

“For example if hackers attack the website of a financial organization and transfer money, there are no laws pinpointing the parties responsible during the Internet invasion. It is unclear whether the hacker, the bank’s website or any other related party should shoulder some responsibilities for the crime,” Wei Yongzhong, a professor with the People’s Public Security University and lead author of the report, told the Global Times on Monday.

Huge amount of Internet crimes go unnoticed as they include only small amounts of money.

Among the top most threats are “fraud, prostitution, pyramid selling and personal information theft” as reported by Global Times.

As the China’s internet users are increasing, so it is expected that the crime will also rise.

“Internet crimes are rising year on year as the number of Internet users have also increased dramatically,” Wei said.

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