Washington is right: Cybercrime is organized crime. Now we need to shut down the business model

Cybercrime has officially been recognized as a form of organized crime by the US government, marking a significant shift in approach. This acknowledgment is crucial as it necessitates a coordinated response to combat the growing threat. The cybercrime economy, which has become the fastest-growing criminal economy globally, relies on stealing from individuals and is no longer just a disparate group of hackers. The recent executive order explicitly targets cyber-enabled fraud and predatory schemes, signaling a new era in the fight against transnational organized crime. The order's language is a departure from previous government rhetoric, now aligning with the cybersecurity industry's long-held stance¹. This development matters to cybersecurity practitioners as it underscores the need for a unified and strategic approach to dismantle the business model of cybercrime, ultimately protecting individuals and organizations from the escalating threat.