Europol (European Union Agency for Law Enforcement Cooperation) recently released their 2024 Internet Organised Crime Threat Assessment, underscoring the frequency of ransomware attacks, child sexual exploitation (CSE), and online fraud as the most threatening forms of cybercrime in the European Union (EU) in 2023. 

The report identifies the dark web as the primary motivator for cybercrime, where cybercriminals attack and exploit millions of people across the EU on a daily basis. Small and medium-sized businesses were found to be the most vulnerable to these attacks, as cybercriminals abuse end-to-end encryption (E2EE) messaging applications, allowing them to share knowledge and tools in a more discreet way. The market for ransomware, phishing, and malware continues to grow as many are able to operate from abroad and disguise their illegal operations.

In addition, new technologies and unmonitored child presence online has created a growing proliferation of CSE. The report explains that online groups on E2EE platforms that share violent and sexual content often operate similar to cults, with leaders manipulating members into sharing extreme material for extortion and gratification. The growing presence of AI is also increasing social engineering attacks and facilitating the objectification of children. Offenders often extort money from their victims in addition to their other demands.

Addressing the root causes of cybercrime, such as financial incentives or socio-economic factors is key to preventing these illicit activities. Europol predicts that the future will likely see an increase in AI-driven attacks, abuse of cryptocurrencies, and the growth of sophisticated fraud schemes, making a coordinated international response crucial for countering these evolving threats.

For more information, check out HSDL’s Focus topics on Cyber Threat Actors, Ransomware, and Human Trafficking.