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Cybercrime Pays Better Than Drugs
John Stith
Staff Writer
2005-11-28
 Security News RSS Feed
The adage was always that "crime doesn't pay." Unfortunately, the adage doesn't ring true, at least in the cyber world. Experts say profits from cybercrime cracked the $105 billion mark.
According to a recent interview in Reuters, cybercrime guru Valerie McNiven said no country is immune to cybercrime. She listed corporate espionage, child pornography, stock manipulation, extortion and piracy as aspects of the cybercrime world.
Reuters quoted McNiven, "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."
She went on to say the problem is cybercrime moves so fast, law enforcement can't keep up. She then mentioned phishing as an example saying phisherman only stay on the Internet for about 48 hours.
She also said there is some evidence of links between terrorism and cybercrime but that's not the real issue. She said in the same interview, "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."
As more and more crimes take place on the Internet, laws need to get tougher and more funds need to go toward research and development as well as enforcement. Unfortunately, this is a technology-driven business more than any other crime. The only way to beat the enemy is to outwit them and that seems to be tough. Innovations need to be just as clear, just as robust and more destructive to the enemies.
About the Author:
John is a staff writer for SecurityProNews covering cyber security.
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