The internet is a global means of communication, without national borders or exact limitations to the applicability of national legislation - calling for a truly global approach to effectively combat cybercrime. The growing importance of the internet with almost unlimited accessibility and without any authoritative measures does not only bring about many advantages such as free and unlimited sharing and access of information, data exchange, communication facilities, worldwide shopping etc., but also opens the door for illegal activities including copyright infringements by means of unauthorised downloads, hacking, spying, programming of malicious software and viruses, to name but a few. The author analyses the various elements of cybercrime as it has become more and more organised and developed into a multi-million dollar business for hacker groups and individuals over the last few years. This is combined with an investigation into the implications of the main underlying issue which is the lack of a common legal definition, a crucial element in the fight against cybercrime.