Cybercrime Detection and Prevention Efforts in the Last Decade: An Overview of the Possibilities of Machine Learning Models

Abstract

According to a report titled “cyberwarfare in the c-suite” released on January 21 2021 by Steve Morgan of the cybercrime magazine, cybercrime is projected to unleash global damages to the tune of six(6) trillion United States Dollars in 2021thereby becoming the third largest economy in the world as well as the greatest problem humanity has ever had to contend with. As virulent and damaging as it is, cybercrime is also the most complicated globalized crime of the 21st century. The menace is felt and appreciated across different jurisdictions. In the last two decades, it has been interestingly observed that as advanced and supposed secure information technologies are deployed in the cyberspace their hidden vulnerabilities are promptly uncoveredunconscionably following exploits by not only attackers but hobbyistsand cybersecurity apologists who are either interested in discovering the vulnerabilities inherent in the system or discrediting and dicountenancingthe claims put forward by the system manufacturers or service providers on grounds of security. To curb this menace, different approaches have been adopted including political, legislative, social, economic and technology-based solutions. Technology-based solutions for combatting cybercrime have been in the forefront and may be categorized into intelligent, traditional, and hybrid solutions. This paper reviews the developments in the last decade in the use of machine learning models (MLMs) to foster the creation of intelligent solutions targeted at curtailing the menace of cybercrimes. It follows an exploratory viewpoint and dwells on published materials from notable databases. It underscores the applicability and potentials of some of the documented intelligent anti-cybercrime strategies while discountenancing the purported merits of some. The paper concludes that while tremendous efforts had been expended in designing intelligent approaching to fighting cybercrime in the last decade, no overwhelming successes may be claimed owing to the fact that the cost of cybercrime has continued to surge consistently. To this end, this paper proposes a new integrated approach tagged the single window anti-cybercrime strategy that does not emphasize technology alone but the includion of social and intuitive elements in the detection and management of cybercrimes.