Nigeria among top ten countries with highest rate of internet scams

After three years of extensive investigation, a global team of academics has created the first-ever “World Cybercrime Index,” which ranks the most important national sources of cybercrime and identifies the world’s major hotspots.

The World Cybercrime Index was developed by researchers from the University of Oxford and UNSW Canberra, who surveyed 92 leading cybercrime experts to gather data.

The findings highlight critical sources of cyber threats across five key categories: technical products and services, attacks and extortion, data and identity theft, scams, and money laundering.

Russia – With a WCI score of 58.39, Russia tops the list, known for a sophisticated cybercrime infrastructure and a high concentration of technically skilled cybercriminals. Russian cybercrime activities often feature advanced malware development and are significant global threats.

Ukraine – Ranking second with a WCI score of 36.44, Ukraine is considered a technical hub for cybercrime, with skilled operatives and extensive cyber capabilities that impact the global cyber threat landscape.

China – Scoring 27.86, China ranks third on the WCI, attributed to state and non-state cyber actors that frequently target government, corporate, and individual data worldwide, positioning the nation as a key player in cyber-related threats.

United States – Despite strong cybersecurity efforts, the U.S. ranks fourth with a score of 25.01. The FBI’s cyber squads in 56 field offices work in collaboration with international partners to counter cyber threats, but high levels of data theft and extortion schemes contribute to its WCI ranking.

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Nigeria – Ranking fifth with a WCI score of 21.28, Nigeria faces significant challenges with cybercrime, including financial scams and identity theft. The Cybercrime Act 2015 was introduced to curb these crimes, though challenges remain.

Romania – Romania holds sixth place with a score of 14.83, known for cyber threats that often involve phishing schemes and malware attacks targeting European and U.S.-based organizations.

North Korea – With a WCI score of 10.61, North Korea is seventh. Known for groups like the Lazarus Group, North Korea’s cyber program is highly organized and internationally focused, executing sophisticated attacks on financial institutions and other high-value targets.

United Kingdom – The UK ranks eighth with a WCI score of 9.01, thanks to its National Cyber Security Strategy. Despite advancements, cybercrime remains a substantial issue, with fraud and ransomware attacks being prominent concerns.

Brazil – With a score of 8.93, Brazil ranks ninth. Despite improved cybersecurity efforts, Brazil still faces significant cyber threats, including ransomware and data breaches affecting both government and private sectors.

India – India ranks tenth with a WCI score of 6.13, where a rapidly growing digital economy has created vulnerabilities. Phishing scams, ransomware, and financial fraud continue to challenge India’s cybersecurity infrastructure.

The report underscores the need for increased collaboration and policy innovation among nations to address the rise in cybercrime, which experts warn could disrupt economic and social stability if not contained.