Viruses cost $10 billion already this year

Computer viruses have cost businesses more than $10 billion in lost productivity and clean-up costs since the beginning of the year. This estimate comes from California company Computer Economics

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By  Guy Mathew Published  September 4, 2001

The cost to business of computer viruses has already passed the $10 billion mark this year through lost productivity and clean-up costs. This is according to the latest report from Computer Economics, released on 31st of August.

The research firm, based in California, said the total includes $2.6 billion damage from the Code Red worm and $1.03 billion from the SirCam worm.

The estimates were reached by deducing the costs of cleaning viruses from networks, servers and clients; restoring lost or damaged files; and lost productivity due to systems being down, the company said.

Last year the economic cost of viruses reached $17.1 billion, up from $12.1 billion in 1999 according to Computer Economics figures.

Code Red is a worm that exploits a weakness in Microsoft’s Internet Information Server software. Security experts’ warnings about Code Red led to headlines around the world, although the actual damage caused was not as bad as expected.

SirCam, which activated at the same as Code Red in late July, is a mass-mailing worm that can disclose confidential information from a user’s system. Computer Economics estimate that there have been more than 2.3 million infections worldwide and the worm is still active.

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