Question: Use the uploaded (Report.docx) Document and summarize.
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Need minimum 500 words
Need 3 APA References
Need 1 Response to below discussion:
Costs of crime estimates can play an important role in helping the Government to achieve the greatest impact on crime for the money spent. The estimates can be used in both appraisal and evaluation of crime reduction policies. They can help the Government to priorities, focusing scarce resources on policies that have the biggest impact on harm caused by crime, rather than simply the number of crimes. The Home Office has previously published research examining the costs of traditional crimes such as burglary and violent crimes. The Home Office also published a report estimating the social and economic costs of organized crime. However, due to the challenges associated with robustly calculating costs, cyber crime has not been included in any such estimates to date. In light of the emergence of new threats from cyber-enabled crimes and cyber-dependent crimes there is now a need to look at the impacts of new modern crime types and attempt to quantify the costs they pose to the UK economy. The costs of crime work have taken an iterative research approach, and has published updates as methods and cost estimates have improved. This has enabled the cost of crime research to drive improvements in future research, as well as summarizing the best-known cost estimates for the research community in an easy-to-access manner.
In calculating estimates, the costs of crime research has focused on the economic cost to the UK per incident, and has separately used estimates of the prevalence of crime in order to form an overall understanding of the cost of crime. Costs considered by this research have been broken down into three categories:
- costs in anticipation;
- costs as a consequence; and
- costs in response.
The methodological approach taken by the previous costs of crime research study has formed the basis of the approach taken in the costs of cyber crime research presented in this report.
In light of the lessons learned from the literature review exercise and a desire to promote consistency in future research, the Costs of Cyber Crime Working Group commissioned a project to devise a costs of cyber crime framework to summarise and understand better the different estimates of the costs of cyber crime. This project was undertaken by Dr Adam Bossler, in conjunction with Home Office Analysis and Insight. The framework approach was based closely on the Home Office’s previous research investigating the costs of crime.
The costs of cyber crime framework is an attempt to combine all that is known about the costs into one table that would enable greater understanding of current (as at 2016) research gaps and encourage further research. This intention was to enable researchers to identify what the various different component costs of cyber crime are, and how these combine to form the overall cost of cyber crime – a resource that did not previously exist in the extant literature. Considering costs in this way should help researchers to identify gaps for future research, facilitating the design of consistent research, which could be used together in future to get closer to understanding the overall cost of cyber crime. The framework, summarizing a range of component costs
Instructions: Need minimum 300 words.
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