Cybercrime and the economy have always been intertwined, but with COVID-19 on the road to causing a seemingly inevitable global recession, many are asking what, exactly, will the impact be on cybercrime. Will criminals step up and increase malware production, ramp up phishing attacks, do whatever it takes to pull in some cash? Or will it cause a little downturn in malware making and other dubious dealings?
Cyber recession: setting the scene
One of our key points of observation would be back in 2009, during the last global recession. While searching for information, one of the flashpoints which kept coming up was a paper put together by a team of researchers from around the world called Crime online: cybercrime and illegal innovation.