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Cybercrime cost $266 million

Patrice Rapalus, Director

(Computer Security Institute, San Francisco, Mar 21,2000)

Summary

   Alike to e-commerce, electronic crime is a booming business that cost companies about $266 million last year, in 1999. Computer Security Institute (CSI) conducted the survey with the participation of the San Francisco Federal Bureau of Investigations (FBI) Computer Intrusion Squad.   

    71% of CSI's 643 member companies that responded to its survey have detected unauthorised use of their computer systems in the last 12 months. This is an increase of 12% from 1998.

    Hackers are identified by more than 85% of the professionals as a security threat. The biggest challenge for them is to prevent computer crimes. However, it may prove a difficult challenge as hackers could be as young as 16 year-old. Companies have to deploy sophisticated technologies and train information security practitioners to stop the companies from being hacked.