Cybercrime – it’s the future.
Cybercrime is the most prevalent form of criminal activity now surpassing the global drugs trade. “In the face of real threats to our [USA] security and our economy” President Obama has recently signed a Cybersecurity Order pledging US$ 4.7 Bn to secure the virtual defences of the USA.
However, it is not just nation states that face this emerging threat, individuals and organisations also have a real and present exposure, and we are not just talking about those businesses that process credit card information either.
Any organisation that holds personal information, for example e-mails, is a potential target and those organisations that don’t have large IT security budgets are the prime targets for this new breed of criminal.
If your business is reliant on the daily use of technology this article by Richard Hodson, Head of Technology at Oval Insurance Broking can inform you of the new threats you might face and what can be done to protect yourself.
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The global cost of Cyber Crime is estimated by the Center for Strategic and International Studies to be up to $575bn in it’s report entitled “Net Losses:Estimating the Global Cost of Cybercrime”, sponsored by McAfee.
The report tries to assess the impact on the global economy by looking at the range of costs and losses associated with Cyber Crime a create an approximate total.