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Follow the Money
Report

Follow the Money

Civilizing the Darkweb Economy


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Editorial Rating

8

Qualities

  • Overview
  • Concrete Examples

Recommendation

Digital technologies are revolutionizing the international financial system and bringing unprecedented opportunities to the developing economies. Forecasters predict that, globally, 1.6 billion more individuals will be able to use financial services because of technological innovation. Yet with opportunities come risks – specifically, the growing threat of financial crimes. Cybersecurity expert Tom Kellermann dissects the role of cryptocurrencies and alternative payment systems in global cybercrime in this detailed look at modern financial governance. getAbstract recommends this illuminating guide to digital technology’s dark side to financial professionals, investors and regulators.

Take-Aways

  • The expansion of digital financial services around the globe could add $3.7 trillion, or 6%, to developing economies’ collective GDP.
  • The downside of this growth is the growing specter of cybercrime. Officials estimate that, each year, cybercrime slashes global economic output by $445 billion.
  • Much of this nefarious activity ties directly to the increasing prevalence and use of cryptocurrencies, which enables the storage, exchange and transportation of illegal products and services.

About the Author

Tom Kellermann is CEO of Strategic Cyber Ventures and a global fellow at the Wilson Center.