The development of e-crimes in the digital economy: Causes and consequences

Abstract

As technology continues to improve, e-crime poses a huge threat to the global economy. According to the World Cyber Security Report (2023), vulnerabilities in the digital world are growing along with technological innovation, which is driving e-crime (World Economic Forum, 2023). This research shows that more and more organizations and countries are facing cyber challenges, making it necessary to strengthen global cyber resilience. In addition, the report indicates that economic losses due to cyber-attacks could reach up to US$ 23.84 trillion worldwide by 2027, almost tripling the growth compared to 2022 (World Economic Forum, 2023). These data confirm that e-crimes pose more and more difficulties for the stability of the international economy. According to the research by PricewaterhouseCoopers in 2022, e-crime is the main cause of external fraud in organizations, so it is important to understand the impact of these crimes and find ways to control them (PwC, 2022). The growing prevalence of cybercrime poses significant challenges to the digital economy, affecting both individuals and organizations. This article examines the theoretical aspects of the cybercrime concept. The conclusions are based on a combination of theoretical analysis and empirical research conducted in Lithuania. By understanding the underlying factors and the extent of their impact, the aim is to offer actionable recommendations to increase digital resilience to e-crime threats.