Fraud Expert points to huge cost of online crime
(Guardian (UK) Via Acquire Media NewsEdge) Online fraud is costing the global economy "many times more" than initial estimates of losses of $100bn (pounds 62bn) a year, a cyber security expert has said.
Eugene Kaspersky said the amount stolen from banks, financial institutions, companies and individuals could be at least double the $100bn estimated three years ago. The co-founder of Kaspersky Lab, an anti-virus software firm, said the next big cyber shock to the world's economy could be an online attack on a state's national infrastructure.
Speaking at the Web Summit in Dublin, the Russian internet security entrepreneur said: "Altogether it looks like, it smells like, it sounds like one hundred billion multiplied many times more." Henry McDonald
(c) 2013 Guardian Newspapers Limited.
[ Back To Technology News's Homepage ]