CDRInfo Forum CDRInfo Forum

Forums  Register  Login  My Profile  Inbox  Address Book  My Subscription  My Forums 

Photo Gallery  Member List  Search  Calendars  FAQ  Ticket List  Log Out

Cybercrime yields more cash than drugs !   Logged in as: Guest
Viewers: 1026 You can click here to see Today's Posts | Most Active Topics | Posts Since Last Visit
  Printable Version
All Forums >> [News Around The Web] >> Security News >> Cybercrime yields more cash than drugs ! Page: [1]
Login
Message << Older Topic   Newer Topic >>
Cybercrime yields more cash than drugs ! - 11/30/2005 7:27:06 AM   
SiliconFreak


Posts: 12103
Joined: 7/4/2003
From: Melbourne, Victoria, AUS
Status: offline
Global cybercrime generated a higher turnover than drug trafficking in 2004 and is set to grow even further with the wider use of technology in developing countries, a top expert said on Monday.

No country is immune from cybercrime, which includes corporate espionage, child pornography, stock manipulation, extortion and piracy, said Valerie McNiven, who advises the US Treasury on cybercrime.

"Last year was the first year that proceeds from cybercrime were greater than proceeds from the sale of illegal drugs, and that was, I believe, over $105 billion," McNiven told Reuters in an interview.

"Cybercrime is moving at such a high speed that law enforcement cannot catch up with it."

For example, Web sites used by fraudsters for "phishing" -- the practice of tricking computer users into revealing their bank details and other personal data -- only stayed on the Internet for a maximum of 48 hours, she said.

Asked if there was evidence of links between the funding of terrorism and cybercrime, McNiven said: "There is evidence of links between them. But what's more important is our refusal or failure to create secure systems, we can do it but it's an issue of costs."

McNiven, a former e-finance and e-security specialist for the World Bank, was speaking in Riyadh on the sidelines of a conference on information security in the banking sector.

Developing countries which lack the virtual financial systems available elsewhere are easier prey for cybercrime perpetrators, who are often idle youths looking for quick gain.

"When you have identity thefts or corruption and manipulation of information there (developing countries), it becomes almost more important because ... their systems start getting compromised from the get-go," she said.

"Another area that begins to expand is human trafficking and pornography because both of these become so much available once you have a communication ability," McNiven said.


Source : Reuters
Post #: 1
Page:   [1]
All Forums >> [News Around The Web] >> Security News >> Cybercrime yields more cash than drugs ! Page: [1]
Jump to:





New Messages No New Messages
Hot Topic w/ New Messages Hot Topic w/o New Messages
Locked w/ New Messages Locked w/o New Messages
 Post New Thread
 Reply to Message
 Post New Poll
 Submit Vote
 Delete My Own Post
 Delete My Own Thread
 Rate Posts




Forum Software © ASPPlayground.NET Advanced Edition 2.4.5 ANSI

0.016