Sunday, June 13, 2004

Security Pays Off as Hack Attacks Decline

Computer security experts say enterprise losses due to cybercrime declined steeply last year, according to a new survey. The results suggest that enterprises may be gaining the upper hand in the battle against hackers.

Financial losses due to cybercrime declined steeply last year, suggesting that enterprises are gaining ground in the battle against hackers.
Participants in a annual survey, conducted by the Computer Security Institute, said their financial losses from cybercrime totaled US$141.5 million for the past year, marking a steep drop from losses of $201.8 million reported by the previous year's respondents.
The findings, based on responses from 494 computer security practitioners in U.S. corporations, government agencies, financial and medical institutions, and universities, show that financial losses attributed to cybercrime have declined for the third year in a row.

The survey also indicates that denial-of-service attacks are now the most expensive problem for organizations ($26 million), moving past theft of intellectual property ($11.4 million), which previously was the most costly security issue. Insider network abuse ranked third, closely followed by unauthorized use of wireless networks.

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