Davos: International action to snuff out cybercrime is desperately needed, officials and business leaders said here, warning that criminals move at internet speed while countries drag their feet.
Many hackers are now well-funded organisations do it for profit, along with spies and terrorists, but many governments are struggling to fight it.
"Many countries don't have laws to criminalise cybercrime, they don't have means and tools to investigate, to share information," said Yury Fedotov, who heads the UN office on drugs and crime.
Cybercrime is "interconnected in terms of crime, but not interconnected in collaboration" against it, he added.
"Criminals move at the speed of internet and countries move at speed of democracy — that's the discrepancy," said Moises Naim of the Carnegie Endowment for International Peace.
