International Cybercrime And Racketeering. Essay - 1294 Words

International Cybercrime and Racketeering The word ‘racketeering’ commonly brings up the image of Al Capone and John Gotti. The mafia seemingly coined this phrase in their dealings with illegal organized crimes. The emergence of new technologies and the internet, racketeering has become synonymous with the phrase cybercrime. Cybercrime refers to â€Å"crimes in which the perpetrator uses their distinct skills with computer technology† to commit unlawful acts via cyberspace (Holt, Bossler and Spellar, 2105, p. 9). Racketeering is defined as the â€Å"act of offering of a dishonest service [a racket] to solve a problem that wouldn t otherwise exist without the enterprise offering the service† (Investopedia, 2010). Combine the two and there is potential to have catastrophic consequences for both the victim and perpetrator. The case of David Camez is one in which $50 million dollars’ worth of financial fraud was committed using the internet. Combined wit h racketeering efforts, his case made headlines due to its influence on how the Justice Department now looks at racketeering acts. The Nature of The Crime On December 6, 2013 David Camez who resided in Arizona was convicted and sentenced to 20 years in federal prison for his part in a complex cybercrime plot that included racketeering offenses. The U.S. Department of Justice states that Camez’s was charged with â€Å"one count of participating in a racketeer influenced corrupt organization and one count of conspiracy to participate in aShow MoreRelatedThe Role of the Internet and Crime971 Words   |  4 Pagesneighbor girl, leading the girl to hang herself (Griggs, B. 2012).† Laws are being made to help prosecute and convict these cyber bullies that use computers to harass others. In 2009 over 100 Americans and Egyptians were arrested after a large international identity theft ring was discovered. The ring targeted two large banks which victimized over 5,000 U.S. customers. The compromising of the two banks was caused from â€Å"phishing† which is gaining personal information by sending phony emails from legitimateRead MoreCybercrime Is Crime That Involves A Computer And A Network2155 Words   |  9 PagesCybercrime is crime that involves a computer and a network. The computer may be used in the commission of a crime, or it may be the target. Debarati Halder and K. Jaishankar (2011) define cyber-crimes as: Offences that are committed against individuals or groups of individuals with a criminal motive to intentionally harm the reputation of the victim or cause physical or mental harm, or loss, to the victim directly or indirectly, using modern telecommunication networks such as Internet. Such crimesRead MoreFederal Crime And The Civil War1594 Words   |  7 Pagescrime was a significant national problem, and that the federal government should take a leading role in fighting it. The first federal organized crime law, passed in 1961, dealt only with persons who had traveled across state lines in support of racketeering activity. Next, Congress made all loan sharking a federal crime based on its finding that loan sharking provided funds for organized crime. This law was the first for the federal government not to require any showing of interstate travel or impactRead MoreThe Growing Problem of White Collar Crimes in India 19963 Words   |  80 Pagesperson wrongfully takes another persons money or property with the intent to appropriate, convert or steal it, Money Laundering--The investment or transfer of money from racketeering, drug transactions or other embezzlement schemes so that it appears that its original source either cannot be traced or is legitimate, Racketeering--The operation of an illegal business for personal profit, Securities Fraud--The act of artificially inflating the price of stocks by brokers so that buyers can purchase