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Cyber Crime Costing Trillions

Posted by Kara Reeder Mar 30, 2009 3:13:13 PM

According to vnunet.com, security firm Finjan agrees with AT&T's chief security officer Edward Amoroso's warning that the cost of cyber crime is running into trillions of dollars.

 

Finjan recently reported on a cybercrime operation based in the Ukraine in which cybercriminals raked in $172,000, or $10,800 per day. Based on those numbers, the trillion dollar estimate isn't far off the mark. Says Yuval Ben Itzhak, Finjan's chief technology officer,

 

"If you extrapolate those figures across the many thousands of cyber crime operations that exist on the internet at any given time, the results easily reach $1 trillion ... It's against this backdrop that we can confirm Amoroso's testimony that cyber security threats have increased significantly over the past five years, and have reached the point where they pose a significant threat to all organizations."

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