Cyber crime increases with the advent of new online Internet services (e.g., entertainment, commerce, payment, pubic administration, social networking services). Not only do cyber criminals target governmental or public institutions, they increasingly victimize individuals and smaller organizations. At the same time, we observe that individuals and organizations steadily join forces and take a more proactive and collaborative role in war against cyber crime. In the current work we investigate examples of rising security incidents, new information security solutions and new cyber crime legislations, and elaborate upon some mismatches that exist among them. We particularly elaborate upon (the potential of) the collaborative initiatives that allow individuals to join forces and disclose cyber crime threats. We identify and/or outline a number of the research directions in legislation, social and technical arenas.