Source: National Cyber Security – Produced By Gregory Evans
In the wake of the latest high-profile hack and claims of “cyber-vandalism” being thrown about, it’s normal to feel a sense of unease. Yes, cybercrime is rising and does result in losses. However, successfully committing cybercrime isn’t as easy as one might think. The direct losses from data stolen through hacking, online card fraud, and online scams are actually relatively low when compared with the direct losses from welfare fraud or tax evasion. Moreover, current federal spending on cybersecurity dwarfs the losses suffered by victims of online scams, fraud, and other crimes, by at least three or four times. And yet we have very little idea how this money is being spent, so it’s hard to judge how effective it is. As we ponder how much to spend and what to do about so-called cyber-vandalism and cyber-warfare, we need to keep these figures in mind. It’s usually the most low-tech, low-cost, and simplest remedies that are actually the most effective in deterring crime online. Internet crime isn’t as easy as it sounds When a big data breach or “hack” takes place, we’re told about millions and millions of credit card numbers, social security numbers, and all kinds of other personal […]
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