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Cyber-crime threatens business, says minister

Source: smh.com.au
Date: May 12, 2003

vspace="0" Cyber-crime represented a serious threat to Australian business and more needed to be done to understand it, a conference was told yesterday. Queensland Innovation Minister Paul Lucas told the AusCERT Asia-Pacific IT Security Conference on the Gold Coast today cyber-crime was estimated to be costing $1.5 trillion a year.Mr Lucas said while exact figures of the level of crime were not available, Australia's Computer Emergency Response Team (AusCERT) was notified of almost 27,000 separate incidents in the first quarter of 2002.
He also cited an Ernst and Young survey which found 64 per cent of Australian firms experienced an e-security attack in the six months to November 2002. "There's still a level of nervousness in business and the general community about the security of doing business over the internet, with two out of five users saying they do not want to provide credit card details over the net," Mr Lucas said. "With this in mind, it's no wonder that e-security is one of the hot IT growth industries."

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