Understanding the Shadows of Cybercrime: Insights from Anja Shortland

As cybercrime becomes increasingly organized, with entities adopting corporate structures including helplines and call centers, Anja Shortland's latest book delves into the broader implications of these developments on society.

Anja Shortland, a political economy professor at King’s College London, has a rich academic background that includes engineering and economics from Oxford University and a PhD in international relations. Her fascination with crime networks led her to write her first book, 'Kidnap: Inside the Ransom Business' in 2019, followed by 'Lost Art: The Art Loss Register Casebook' in 2021.

Her newest work, 'We Know You Can Pay a Million: Inside the Dark Economy of Hacking and Ransomware', released on April 9, explores the corporate-like structures emerging within the ransomware industry.

Shortland’s research, initiated in 2010, was sparked by her curiosity about how ransom rates are set for ships, leading her to examine the complexities of ransom payments and insurance, discovering that firms like Lloyd’s of London now support a range of professionals involved in these negotiations.

She highlights that ransomware gangs now operate like legitimate businesses, complete with employees and structured operations. During her interview, she discussed:

The true cost of ransomware: In 2025, ransomware gangs reportedly gained $900 million, yet the total cost to global businesses was estimated at a staggering $74 billion.

Setting ransom rates: Criminals assess their targets to determine vulnerability, sometimes discovering critical information like insurance certificates and turnover rates.

Social engineering attacks: Instead of hacking systems, criminals often manipulate employees into revealing sensitive information.

Impact on critical infrastructure: The consequences can be severe, as seen in the 2022 attack on Costa Rica, which disrupted essential services.

Evolution of ransomware: The feasibility of ransomware surged after 2013, aided by advancements in internet technology and cryptocurrency, which allowed criminals to receive payments anonymously.

AI's role: Artificial intelligence is equipping both attackers and defenders, creating a dynamic arms race in cybersecurity.

Shortland expresses a significant concern about the potential for ransomware to target national infrastructure, emphasizing the need for awareness and preparedness against increasingly sophisticated cyber threats.

Outside of her academic pursuits, Shortland enjoys gardening, music, and beekeeping, reflecting a well-rounded life beyond her studies.