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This paper will explore cybercrime and the exploitation of emerging illegal markets. It will firstly demarcate variations on traditional themes, such as advanced fee frauds, value chain frauds and artificial inflation like ‘pump and dump’ or Bit Coin fraud from entirely new criminal markets that are evolving. Typically based around the business model of applications, such micro-frauds are prevalent but hard to police. The paper will then focus upon the challenges that such micro-frauds pose for policing.