The information technology is a double edge sword, which can be used for destructive as well as constructive work. Thus, the fate of many ventures depends upon the benign or vice intentions, as the case may be, of the person dealing with and using the technology. With the advent of e-transaction, e-banking and e-commerce in practice in all over the world, the ratio of cyber and internet crimes has been exuberantly increased even more than any other traditional crimes in the world. The recent data collected by the Europe and USA is appalling to indicate magnify of cyber crimes. Nick Ray, chief executive of software security firm Prevx observes as" The problem is not with the law; it is with resources to catch the criminals and prosecute them. The scale of damage caused by these threats is massive and we want to make sure cybercrime figures are properly measured. You get front page headlines that violent crimes have raised, because violent crime is measured. Cybercrime is just not on the government's radar. It's about time it was". The atrocious figure of escalating the cyber crimes has evidenced by the  'UK Cybercrime' report, which was the first to chart the extent and types of online crime experienced by Britons in 2006. The study estimates that more than three million online crimes were carried out in the UK alone last year; these included financial fraud, blackmail, sexual offences and computer hacking. The head of e-crime for the Serious Organised Crime Agency (Soca), Sharon Lemon, has warned e-crime is so widespread it now plays a role in nearly every criminal investigation. She further said: "It needs more awareness and in the year 2008 e-crime is not a specialist crime any more, it is something that is spreading out to take in all of organised crime."These people find each other over the internet, they use encryption to protect their data. It is about making sure that everybody in law enforcement understands that e-crime is part of their daily business. The thing that is disturbing us the most is the exchange of stolen credit card data and the scale on which it is being traded on the internet and its availability to be bought ".The recent development of advance information technology in the and excessive reliance of e-transaction has made possible for cyber crimes to get unauthorized access to sensitive information of concerned transaction or media consequent for illegally earn. Lemon said technology played an increasing role in serious crimes handled by Soca - such as people trafficking, drug smuggling and major fraud - that its use was becoming more sophisticated and it was linking up criminals across the globe, we are talking about virtual groups, for example in the case of credit card fraud from getting the details to releasing the money there may be 12 different skill sets with people collaborating from many different countries and sharing their expertise." The London home secretary David Davis said that cyber crime attacks to steal and extort money were a multi-billion business that was now worth more than the international illegal drugs trade, the internet more as a shopping mall for criminals with plenty of ATMs around the place. The government has created data systems that are valuable, vulnerable and attractive to attack. His approach towards the governments efforts to curb the cyber criminals activates are pessimistic he explained this situation as "But the national approach to this growing threat of cyber crime and cyber terrorism lacks co-ordination, focus or urgency. You are left with the conclusion that the government does not want to do anything about the problem, their thinking seems to be that 'in cyber space nobody can hear you scream." In fact the capabilities and opportunities provided by the Internet have transformed many legitimate business activities, augmenting the speed, ease, and range with which transactions can be conducted while also lowering many of the costs. Criminals have also discovered that the Internet can provide new opportunities and multiplier benefits for illicit business. The dark side of the Internet involves not only fraud and theft, pervasive pornography and pedophile rings, but also drug trafficking and criminal organizations that are more concerned about exploitation than the kind of disruption that is the focus of the intruder community. In the virtual world, as in the real world, most criminal activities are initiated by individuals or small groups and can best be understood as "disorganized crime." Yet there is growing evidence that organized crime groups or mafias are exploiting the new opportunities offered by the Internet. To become a ardent part of global village every country is in haste to enact and enforce the anti cyber crime laws, as now it is not menace of advance countries even for developing countries it also has become unavoidable to introduce and enforce anti cyber crime laws to prevent possible cyber crimes in the society.