Proxyrack - October 12, 2023
Global Cybercrime Report
Over the last decade, we’ve increasingly relied on the internet. It’s an essential part of our lives that we use to learn, purchase, and communicate. Although the internet has allowed us to grow businesses and meet new people, it’s also enabled a new range of illegal activities, otherwise known as cybercrime.
Cybercrime is a risk to everyone who uses the internet, and although residential proxies and strong passwords can protect you, the possibility of being a victim is genuine.
That’s why we wanted to know which countries were most at risk from cybercrime. We’ve looked at various factors, including cyber legislation and digital development, to reveal the countries most at risk from cybercrime.
Panama is most at risk from cybercrime, with a score of 9.70/10
To assess the risk of cybercrime worldwide, we looked at several factors, including digital development, legislation,
1. Panama - 9.70 cybercrime risk score
Taking the top spot is Panama, with a cybercrime risk score of 9.70 out of 10. Panama’s cybersecurity consistently scored poorly, with the worst digital development level and Basel AML Index. Panama also had one of the highest cyber security exposure scores.
2. Thailand - 8.83 cybercrime risk score
In second place is Thailand, with a cybercrime risk score of 8.83 out of 10. Thailand’s cyber security was consistently poor across our factors, with its digital development and Basel AML index among the worst of its scores.
3. Belarus - 8.78 cybercrime risk score
Our top three is completed by Belarus, with a cybercrime risk score of 8.78 out of 10. Belarus has the worst cybersecurity exposure score of any country on our list and one of the worst digital development levels.
The most cyber-secure country in the world is Denmark, with a score of 1.87/10
Using the same data, we revealed the countries least at risk of cybercrime.
1. Denmark - 1.87 cybercrime risk score
Taking the top spot is Denmark, with a cybercrime risk score of 1.87 out of 10. The Danish government adopted a national cyber and information security strategy in 2022, and this emphasis is shown across all our factors. Particularly in terms of its high digital development and low cybersecurity exposure index, which were among some of the best scores on our list.
2. Sweden - 1.96 cybercrime risk score
In second place is Sweden, with a cybercrime risk score of 1.96 out of 10. Sweden’s national strategy for cyber security was launched in 2017, with one in five people estimated to have been exposed to cybercrime. Sweden’s Basel AML index and digital development were among the best of its scores.
3. Finland - 2.00 cybercrime risk score
Finland takes third place with a cybercrime risk score of 2.00 out of 10, completing a Nordic top three. Finland is another country with a strong emphasis on cyber security. The Finnish government has established a strategy with ten objectives, one of which is actively participating in international discussions and cooperation on cybersecurity.
Panama has the highest Basel AML Index, with a score of 5.81
The Basel AML Index assesses the risk of money laundering and terrorist financing worldwide. Bribery, financial and public transparency, political risks, and the quality of the anti-money laundering framework all contribute to each country's overall score. Below, we have revealed the countries with the highest Basel AML Index.
1. Panama - 5.81 Basel AML Index
Panama is the country most at risk of money laundering and terrorist financing, with a Basel AML Index of 5.81. Panama’s anti-money laundering (AML) regime is weak, with $935 billion estimated to be laundered yearly. Despite having laws in place to tackle money laundering, they are rarely enforced by authorities.
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The UAE is the least cyber-secure country, with a National Cyber Security Index of 40.26
The National Cyber Security Index (NCSI) measures a country's cyber security capacity based on how well its government implements its regulations. Below, we’ve revealed the countries with the lowest national cyber security scores.
1. United Arab Emirates - 40.26 National Cyber Security Index
The United Arab Emirates takes the top spot, with a National Cyber Security Index of 40.26. Dubai, the UAE’s most populous city, updated its cyber security strategy in 2023 to introduce four key pillars. These pillars are security, innovation, resilience, and collaboration. Cybercrime in the UAE is one of the most costly in the world, with each incident estimated to cost $2.6 million on average.
Belarus is the most exposed country to cybercrime, with a score of 0.614
The Cybersecurity Exposure Index ranks each country based on how exposed to cybercrime they are. We’ve revealed the developed countries with the highest scores.
1. Belarus - 0.614 Cybersecurity Exposure Index
Taking the top spot is Belarus, with a Cybersecurity Exposure Index of 0.614. Belarus’ exposure is demonstrated by the anonymous activist group Cyber Partisans, who are well known for their cyber attacks against the Belarusian government.
Panama’s digital development level is lower than any other developed country, with a score of 48.43
A country’s digital development level is based on its ICT development and network readiness. We’ve revealed the developed countries with the lowest digital development scores.
1. Panama - 48.43 digital development level
Panama takes the top spot once again, with a digital development level of 48.43. Despite having the lowest score, Panama is making efforts to improve this. Active mobile broadband and fixed broadband subscriptions have increased in the last ten years, demonstrating clear progress.
Uruguay, South Korea, and Switzerland have fewer cyber legislations and laws than any other developed country, with two
Cyber legislation protects people and business owners from cybercrime. That’s why we wanted to know which developed countries have the fewest laws in place.
Uruguay/South Korea/ Switzerland - 2 cyber laws and legislation
Once again, the top spot is shared between three countries; this time, it’s Uruguay, South Korea, and Switzerland, which all have two cyber legislations and laws. Uruguay’s cyber laws are the most outdated of the three countries, having introduced their laws in 2008 and 1996.
Methodology
We used the Human Development Index for our seeding list, using countries with a high human development score. We then removed any countries with missing data.
We used the Basel AML Index for the Basel AML Index scores.
We used NCSI for the National Cyber Security Index and Digital Development Level.
We used Password Managers for the Global Cybersecurity Exposure Index.
We used the Cyber Regulation Index for the number of cyber legislations and laws in each country.
We used The World Bank for the individuals using the internet (percentage of population).
We put this data into a weighted table, giving each factor a normalized score out of ten. We then took an average of these scores to provide each country's overall cybercrime risk score.
