If recent statistics are any indication, enterprise security teams might be greatly underestimating the risk that insider threats pose to their organizations.. One study, by Crowd Research Partners, shows just 3% of executives pegged the potential cost of an insider threat at more than $2 million. Yet, according to Ponemon Institute, the average cost of insider threats per year for an organization is more than $8 million.. Research indicates that merely 4% of leaders misjudge the financial impact of insider threats at $2.5 million, whereas the typical expenses are above $9 million.. Insider Threat, Financial Risks, Security Cost Assessment. . LinuxSecurity.com Team
A landmark study on Department of Justice network crime prosecutions reveals most attacks used stolen IDs and passwords, resulting in far greater damages to affected organizations than previously thought: up to $10 million per occurrence and on average more than $1.5 million per occurrence. . The link for this article located at Help Net Security is no longer available. . An influential report uncovers the economic toll of cyber offenses associated with legal actions.. Network Crime, Financial Impact, Credential Theft. . Anthony Pell
The U.S. government said Feb. 9 it will launch its first national survey to estimate how much cyber-crime is costing American businesses. The Justice Department and the Department of Homeland Security will try to measure the number of cyber-attacks, frauds and thefts of information and the resulting losses during 2005, officials said in a statement. The survey, to be completed by year-end, will collect information about the nature and extent of computer security violations, the monetary costs, types of offenders and computer security measures now used by companies. . The link for this article located at EWeek is no longer available. . The link for this article located at EWeek is no longer available.. government, launch, first, national, survey, estimate, cyber-. . Benjamin D. Thomas
omputer virus attacks cost global businesses an estimated $55 billion in damages in 2003, a sum that would rise this year, said Trend Micro Inc., the world's third-largest antivirus software maker. Companies lost roughly $20 billion to $30 billion in 2002 from the virus attacks, up from about $13 billion in 2001, according to various industry estimates. "The economic and financial impact of virus attacks will continue to climb in 2004," Lionel Phang, Trend Micro's Managing Director told Reuters in an interview. He did not have a forecast for the year. . . .. JANUARY 16, 2004 ( REUTERS ) - Computer virus attacks cost global businesses an estimated $55 billion in damages in 2003, a sum that would rise this year, said Trend Micro Inc., the world's third-largest antivirus software maker. Companies lost roughly $20 billion to $30 billion in 2002 from the virus attacks, up from about $13 billion in 2001, according to various industry estimates. "The economic and financial impact of virus attacks will continue to climb in 2004," Lionel Phang, Trend Micro's Managing Director told Reuters in an interview. He did not have a forecast for the year. Spam threats and network viruses will likely become more prevalent in 2004, he said. "The spam threat will increase exponentially, and will become the hideouts for viruses and hacking programs trying to gain an entry into the network," he added. One attack every month Last year, there was almost one major virus attack every month, including the well-known Slammer worm, which shut down Internet service providers in South Korea, disrupted plane schedules and knocked out automatic teller machines in January. The link for this article located at Computerworld.com is no longer available. . In 2004, international corporations endured losses of approximately $60 billion due to malware infiltrations, a figure projected to rise in the upcoming year.. Computer Virus, Antivirus Impact, Network Security Threats, Enterprise Protection. . Anthony Pell
According to the 2003 Computer Crime Survey conducted by the Computer Security Institute in conjunction with the FBI, nearly 13 per cent of respondents were the victim of identity theft in the past year in the US, writes Fran Howarth OF Bloor Research. In total, losses from identity theft in the US in the past year are estimated to have amounted to around $50 billion.. . .. According to the 2003 Computer Crime Survey conducted by the Computer Security Institute in conjunction with the FBI, nearly 13 per cent of respondents were the victim of identity theft in the past year in the US, writes Fran Howarth OF Bloor Research. In total, losses from identity theft in the US in the past year are estimated to have amounted to around $50 billion. Identity theft is the appropriation of an individual's personal information - including such identifiers as social security numbers, driving license numbers, financial cards and account information. This information can be used to fraudulently obtain such things as loans, credit, employment, healthcare services, rentals and mortgages. Traditionally, the most common way for thieves to obtain such information is carelessness on the part of individuals, including not taking sufficient care to safeguard personal information, especially when disposing of it. One of the richest treasure troves for thieves looking for personal information are family and company rubbish bins - in the US, it is estimated that as much as 70 per cent of all identity theft includes theft of disposed of information from bins. However, as the use of the Internet has grown, so too have the incidences of online identity theft. But why should businesses care? For a start, theft of credit card and account information is one of the most common reasons for identity theft, but consumer liability is generally capped in the case of such fraud - leaving financial institutions to pick up the pieces. . Personal information misappropriation, commonly known as identity theft, results in significant monetarydamages.. Identity Theft, Data Protection, Cybercrime Prevention, Financial Security. . LinuxSecurity.com Team
He runs with the name "Low Voltage" and is the don of South Africa's underground movement of techno trouble-stirrers who could, with the click of a mouse, cause your company to fall into the 90% bracket of enterprises which will suffer . . . . He runs with the name "Low Voltage" and is the don of South Africa's underground movement of techno trouble-stirrers who could, with the click of a mouse, cause your company to fall into the 90% bracket of enterprises which will suffer significant financial loss by 2005 through breaches in security. Delegates attending a presentation on computer hackers, hosted by the KwaZulu-Natal branch of the Institute of Directors, in Durban on Wednesday, were told there was a huge hacking community in South Africa run by someone who calls himself "Low Voltage". This information - along with other shocking statistics - was released by Pragasen Morgan, assistant manager of Global Risk Management Solutions, a security division of PricewaterhouseCoopers. The link for this article located at The Mercury is no longer available. . He runs with the name 'Low Voltage' and is the don of South Africa's underground movement of techno . voltage', south, africa's, underground, movement, techno. . LinuxSecurity.com Team
A nice account of the costs associated with attacks and computer security. " The threat from computer crimes and other online security breaches has barely slowed, never mind stopped, according to a recent survey of 538 security professionals in U.S. corporations . . . . A nice account of the costs associated with attacks and computer security. " The threat from computer crimes and other online security breaches has barely slowed, never mind stopped, according to a recent survey of 538 security professionals in U.S. corporations that was conducted by the Computer Security Institute and the FBI?s Computer Intrusion Squad." The link for this article located at ComputerWorld is no longer available. . Recent years have seen increased focus on the financial fallout of cybercrime, with businesses facing rising costs from breaches and long-term damage to trust and reputation. Computer Crime Cost, Security Survey, Financial Impact. . LinuxSecurity.com Team
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