Cybercrime profits running into trillions of dollars

Author: Ryan Naraine
minute read

By David Neal, vnunet.com

A recent warning from AT&T’s chief security officer, Edward Amoroso, that the cost of cyber crime is running into trillions of dollars [vnunet.com] has been confirmed by security firm Finjan.

Earlier this month Amoroso and a panel of security experts told a US Senate Commerce Committee that revenues from cyber crime now exceed those of drugs crime, and are worth some $1tn (£700bn) annually. The report [PDF from senate.gov] also warned that techniques are rapidly evolving.

By David Neal, vnunet.com

A recent warning from AT&T’s chief security officer, Edward Amoroso, that the cost of cyber crime is running into trillions of dollars [vnunet.com] has been confirmed by security firm Finjan.

Earlier this month Amoroso and a panel of security experts told a US Senate Commerce Committee that revenues from cyber crime now exceed those of drugs crime, and are worth some $1tn (£700bn) annually. The report [PDF from senate.gov] also warned that techniques are rapidly evolving.

* Image source: AMagill’s Flickr feed (CC 2.0)

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