Data theft from firms topped a trillion dollars in 2008: studyWorkers turned "cyber (1) From "cybernetics," it is a prefix attached to everyday words to add a computer, electronic or online connotation. The term is similar to "virtual," but the latter is used more frequently. See virtual. moles" and crime syndicates armed with malicious software are looting digital data from businesses as losses reportedly topped a trillion dollars in 2008. California computer security firm McAfee presented the findings Thursday at the World Economic Forum in Davos, Switzerland, with a warning that the world's dismal financial straits are exacerbating data theft woes. "Based on the survey findings McAfee conservatively estimates that the global damage from data loss to top one trillion dollars," said McAfee chief executive Dave DeWalt. "This report is a wake-up call because the current economic crisis is poised to create a global meltdown meltdown Occurrence in which a huge amount of thermal energy and radiation is released as a result of an uncontrolled chain reaction in a nuclear power reactor. The chain reaction that occurs in the reactor's core must be carefully regulated by control rods, which absorb in vital information." Insights for the first-ever worldwide study "on the security of information economies" were gathered from more than 800 chief information officers in Japan, China, India, Brazil, Britain, Dubai, Germany and the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. . The companies surveyed estimated they lost a combined 4.6 billion dollars worth of intellectual property last year, and spent approximately 600 million dollars repairing damage from data breaches. "Companies are grossly underestimating the loss, and value, of their intellectual property," said Eugene Spafford, a US university computer science professor who is executive director of The Center for Education and Research in Information Assurance and Security (CERIAS CERIAS Center for Education and Research in Information Assurance and Security ). "Just like gold, diamonds or crude oil, intellectual property is a form of currency that is traded internationally, and can have serious economic impact if it is stolen." Pressure on firms to cut costs is resulting in weakened computer security measures Noun 1. security measures - measures taken as a precaution against theft or espionage or sabotage etc.; "military security has been stepped up since the recent uprising" security , making them more tempting targets for information thieves, according to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. CERIAS, which analyzed responses in the study. Thirty-nine percent of the CIOs in the study said they believe vital company information is more vulnerable because of current economic conditions. There has been an increase in "cyber mafia gangs" breaking into corporate databases, according to the study. "Cybercriminals are increasingly targeting executives using sophisticated phishing techniques," the study states. "Phishing" refers to deceptive emails or other online ruses that trick people into revealing passwords, account numbers, or other sensitive information. Such attacks customized to harpoon harpoon (härp  n`), weapon used for spearing whales and large fish. The early type was a flat triangular piece of metal with barbed edges and a socket for attaching a wooden handle, to the specific powerful executives are often referred to as "whaling whaling, the hunting of whales for the oil that can be rendered from their flesh, for meat, and for baleen (whalebone). Historically, whale oil was economically the most important.
Early WhalingWhaling for subsistence dates to prehistoric times. ." The dour economy also raises the chances of companies being looted loot n. 1. Valuables pillaged in time of war; spoils. 2. Stolen goods. 3. Informal Goods illicitly obtained, as by bribery. 4. by employees out to supplement shrinking paychecks or improve job prospects with future employers. "An increasing number of financially challenged employees are using their corporate data access to steal vital information," the study contends. "As the global recession continues and legitimate work disappears, desperate job seekers or 'cyber moles' are stealing valuable corporate data to make themselves more valuable in the job market." The study also pinpointed China, Pakistan, and Russia as data theft "trouble zones" because of legal, cultural or economic factors. 
|
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion