Losses double on cyber crime

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Losses from cyber crime in the US have more than doubled in the last year, from $120 million to $266 million, according to the recent Computer Crime and Security Survey. And as we all know, where the US goes, the rest of the world follows.

The survey was carried out by the Computer Security Institute (CSI), with assistance from the FBI’s Computer Intrusion Squad.

The worst losses came from theft of proprietary information and financial fraud, from both insiders and outsiders.  Ninety per cent of those who took part said they had detected security breaches within the last year. Seventy per cent reported a range of serious security breaches, including system penetration from outsiders, denial of service attacks, and sabotage of data or networks.

Almost 60 per cent said that their Internet connection was a frequent point of attack, compared with 38 per cent who cited their internal systems as the attack point.

Patrice Rapalus, CSI director, said the survey highlights disturbing trends, and that information security breaches were widespread. “Such incidents can result in serious damages. Clearly, more must be done in terms of adherence to sound practices, deployment of sophisticated technologies, and, most importantly, adequate staffing and training of information security practitioners in both the private sector and government.”

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