Public-Private Collaboration for Combatting Cyber Fraud

The chapter begins by highlighting the escalating threat of cybercrime, which encompasses a broad range of criminal activities facilitated by digital technologies. It delves into the distinction between cyber-dependent and cyber-enabled crimes, emphasizing the latter's significant impact due to the increased use of digital payments and the lack of consumer awareness. The text underscores the importance of Public-Private Partnerships (PPP) and Public-Private Collaboration (PPC) in addressing these challenges, particularly in the context of cryptocurrency fraud and investment scams. It provides a detailed case study of a transnational criminal syndicate that defrauded victims of approximately USD 150 million, demonstrating the effectiveness of PPC in disrupting such operations. The chapter also discusses the challenges and limitations of PPPs and PPCs, including issues of trust, cultural differences, legal and regulatory barriers, and a lack of transparency. It concludes by recommending the establishment of a national cyber police response agency and qualification-based licensing for private cyber investigators to enhance collaboration and combat cybercrime effectively.