Research and retrieval of news articles by:
Bennett Gold LLP, Chartered Professional Accountants

SPECIAL NOTE TO ALL VISITORS:
Effective December 31 2012, articles are no longer being updated on this web site.
The site is now maintained as an historical archive, covering notable e-commerce news articles from the period 1999 to 2012.

REPORT: COMPUTER CRIME LEVEL STEADY, BUT LOSSES DOWN

Posted on June 2, 2003

      The Computer Security Institute (CSI) says the amount of "significant" computer-related crime in the U.S. remained steady last year, but related financial losses declined substantially.

      CSI says 530 firms that responded to its annual survey, jointly conducted with the FBI, reported losses of $201 million. That's a drop of more than 50 percent from 2001, when 503 companies said they lost $455 million.

      Still, overall trends from the survey are "disturbing," says CSI Director Chris Keating. The report covers a range of activity, from viruses to laptop theft.

      "Cybercrimes and other information security breaches are widespread and diverse," Keating says, with 92 percent of the companies in the survey saying they were attacked sometime during the year. "Clearly, more must be done."

      Other findings:
- The most expensive element of cybercrime was loss of proprietary information, with an average $2.7 million lost by each company, followed closely by losses from denial of service, which cost $65 million, a 250 percent rise.
- While 45 percent of respondents to the survey detected unauthorized activity by insiders, 78 percent said their Internet connection was their most active point of attack.
- Less than half of the firms reporting attacks could quantify losses.

E-Commerce Alerts are issued by Bennett Gold LLP, Chartered Professional Accountants as situations develop. Bookmark this site and check back often. Our e-mail address is: info@BennettGold.ca

In accordance with United States Code, Title 17, Section 107 and Article 10 of The Berne Convention on Literary and Artistic Works, the news clippings on this web site are made available without profit for research and educational purposes.

ALERT
ARCHIVES
Final Entries
2012
2011
2010
2009
2008
2007
2006
2005
2004
2003
2002
2001
2000
1999