Effect of Cyber Crime on The Economy: A Comparative Study India and Nigeria

Abstract

The astounding and alarming rate of crime by young adult at global level have attracted attention, while cybercrime has become a material economic concern for both advanced and emerging economies. This study examines the causes of cybercrime among young adults in India and Nigeria, identifies the effects of cybercrime on the economies of India and Nigeria, and proposes appropriate solutions to the menace of cybercrime in the study countries. This study uses a descriptive comparative desk-review design based on secondary data. The units of comparison are India and Nigeria, and the sources consist of documented scholarly written materials, legislation and other publications cited in the article. The analysis was conducted by organizing the available secondary evidence into common themes that permit comparison between India and Nigeria. The findings indicate that cybercrime has increased in India and remains a major cause of concern in Nigeria, with economic consequences for individuals, businesses, and public institutions. Youth involvement, online fraud, limited investigative capacity, legal challenges, and cyber-security skills remain important concerns. The findings also have implications for cybercrime legislation, investigative capacity building, public awareness campaigns and youth employment policy, while serious action is needed to protect cyber space as a national security requirement..