Cybercrime Becomes the Third-Largest Global Economy

In 2024, cybercrime losses doubled the previous year's figure, making it the third-largest global economy. Chinese hackers allegedly breached the US Treasury Department, accessing unclassified documents and compromising employee workstations. In addition, SSPC warns of increasing online fraud, advising citizens to verify websites, avoid suspicious links, and report incidents to the Cyber Police.

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Cybercrime Becomes the Third-Largest Global Economy

In 2024, cybercrime caused losses of US$10.4 billion, doubling the amount reported the previous year. Now ranked as the third-largest global economy after the United States and China, cybercrime has become a significant force. By the end of the year, one in five crimes worldwide occurred online. In Spain, 25% of reported crimes were internet-related, with scams accounting for more than 80% of these cases. The Civil Guard’s Cybersecurity Coordination forecasts that complaints will rise to 150,000 in 2025.

Chinese Hackers Allegedly Infiltrate US Treasury Department

Chinese hackers have been accused of infiltrating the US Treasury Department's systems, compromising employee workstations and gaining access to certain unclassified documents, according to US officials. The breach has been classified as a "major incident," leading the Treasury Department to formally notify lawmakers and collaborate with the FBI and other agencies to assess the scope and impact of the attack.

SSPC Issues Alert on Growing Online Fraud Threats

The General Directorate of Service Management, Cybersecurity, and Technological Development under the Ministry of Security and Citizen Protection (SSPC) has issued an alert regarding the escalating threat of online fraud and offered recommendations to help citizens safeguard themselves against cybercriminal activities.

United Nations Sets Framework for Combating Global Cybercrime

The General Assembly has adopted the United Nations Convention Against Cybercrime, a treaty designed to enhance international cooperation in combating cybercrime and protecting citizens, businesses and States from digital threats. This milestone concludes a five-year process involving UN Member States, civil society, security experts, academia, and the private sector.