« The Evolution Towards Endpoint Security | Main | 5 Top Security Trends »
September 20, 2007Computer Crime Now Bigger Than the Worldwide Drug Trade
According to David DeWalt, the CEO of McAfee, companies continue to underestimate the threats from phishing, data loss, application security, and other vulnerabilities which now represent a 105 billion Dollar business, surpassing the worldwide drug trade. So I guess when you imagine Scarface today, just picture him in his massive Miami mansion and, instead of being armed with the biggest and baddest guns and weaponry, all he needs now is the latest laptop.
According to InfoWeek, DeWalt said, "it's amazing how low the awareness is of cybersecurity threats" among both government officials and corporate executives. "As the world has flattened, we've seen a significant amount of emerging threats from increasingly sophisticated groups attacking organizations around the world."
There have been recent high-profile data breaches at TD Ameritrade, Citigroup, and TJX, and computer crime now totals a 40 billion a year business. Says DeWalt: "If you rob a 7-Eleven you'll get a much harsher punishment than if you stole millions online," DeWalt remarked. "The cross-border sophistication in tracking and arresting cybercriminals is just not there."
Posted by pschooff in
|
Digg This|
Add to del.icio.us
Trackback Pings
TrackBack URL for this entry:
http://www.ebizq.net/mt/mt-tb.cgi/2329

Twenty-Four Seven Security