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Cybercrime strikes U.S. economy

By Ludmila Goroshko
Date: November 04, 2003

Cyber Crimes Experts forecast a substantial growth in cybercrime. 82 % of the American companies interrogated by Computer Security Institute faced a problem of computer viruses for last 12 months, and the caused damage is estimated in $27,3 million.

It is necessary to pay attention to crimes committed with use of plastic cards. By expert estimations, this kind of transnational crimes causes damage to bank system at the rate up to 10 % of plastic card turnover. So, there were reported incidents related to plastic cards fraud through the system MasterCard in $703 million^; through the system VISA - $1,2 billion.
Criminals stole laptops with valuable information from 59 % of companies' employees ($6,8 million losses). 42 % computer networks were broken ($65,4 million losses). 21 % of companies became victims of data theft ($71,2 million losses), and 15 % companies became victims of financial fraud ($10,1 million losses).

Information Technology Association of America (ITAA) has declared about possible creation of a certain coalition on fighting Internet fraud. In the near future ITAA is about involving the IT-companies in joint development of new ways of e-commerce, more secure for clients.
According to IDC company, in 2002-2007 the information security will cost American companies 15-18 % more. Special equipment and software allowing to detect unauthorised access to corporate networks will cost American companies 16 % more.

Computer Crime Research Center

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