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Cybercrimes via Virtual Currencies in International Business

Cybercrimes via Virtual Currencies in International Business

Dincer Atli (Uskudar University, Turkey)
Copyright: © 2019 |Pages: 18
DOI: 10.4018/978-1-5225-6201-6.ch007
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Abstract

This chapter is willing to shed some light on virtual currencies (VCs) and cybercrimes in International Business. In recent years, Cybercrime is a major concern for the global community. Besides, virtual currency (VC) has made a transformational impact on purchasing habits on a global scale. The advantages VC provides and the difficulty to control it cause the problem of the possibility of committing cybercrimes in the virtual environment. The freedom of VCs provides and the difficulties in controlling it facilitate the realization of crimes like money laundering and finance of terrorism in the virtual environment. Our research demonstrates the structural and legal status of VCs, the different regulations in various countries and the cybercrimes committed via VCs.
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Background

When we are examining the history of modern computing as a mainframe business, it dates back to after the World War II. Given the enormous increase in the number of computers, it is not surprising that computer crime started to develop a topic in the 1960s. Using computers to ‘‘harm’’ persons did not become a problematic concern until the 1980s when the ‘‘personal computer’’ emerged (Brenner, 2010).

In this regard, cybercrime first coined by William Gibson (1982) and then popularized in his novel ‘’Neuromancer’’ in 1984 (Giddens, 2006). The first remarkable cybercrime case can be attributed to a guy called John Draper in 1971. He smartly figured out that he could make long-distance phone calls for free by using a toy whistle to trick the phone system (Wozniak&Smith, 2006). Cybercrime is a reality of the world today.

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