The internet is a global means of communication,without national borders or exact limitations to theapplicability of national legislation - callingfor a truly global approach to effectively combatcybercrime. The growing importance of the internet with almostunlimited accessibility and without any authoritativemeasures does not only bring about many advantagessuch as free and unlimited sharing and access ofinformation, data exchange, communication facilities,worldwide shopping etc., but also opens the door forillegal activities including copyright infringementsby means of unauthorised downloads, hacking, spying,programming of malicious software and viruses, toname but a few. The author analyses the various elements ofcybercrime as it has become more and more organisedand developed into a multi-million dollar businessfor hacker groups and individuals over the last fewyears. This is combined with an investigation intothe implications of the main underlying issue whichis the lack of a common legal definition, a crucialelement in the fightagainst cybercrime.