Cybercrime costs US businesses $378 million

An FBI report has revealed that cybercrime cost US businesses and government departments $378 million last year, with 85% of respondents reporting security breaches in the last 12 months.

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By  Zoe Moleshead Published  March 13, 2001

Cybercrime cost US businesses and government departments $378 million last year, according to an FBI report.

The study, carried out by US-based Computer Security Institute, found 85% of respondents reported security breaches in the last 12 months, double the 1999 figure of 42%.

Corporate espionage was the biggest problem for respondents with over 6% reporting losses of $151 million worth of propriety data. A further 4% of respondents reported $93 million of financial fraud as a result of computer crime.

The study also dismissed the notion that most cybercrimes are perpetrated by company insiders, instead discovering that most crimes originated over the Internet.

The FBI is also investigating 40 US hacking incidents committed by Eastern Europeans, believing that hackers have stolen more than one million credit card numbers from e-commerce sites. The FBI warned the figure could rise further as it continues its investigation into organised crime in Russia and the Ukraine.

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