Thursday September 22, 2011

In 2009, the White House suggested that cybercrime and industrial espionage inflicted damage of around $1tn (£640bn) a year – almost 1.75% of global GDP. Can it be true? The answer is that, whatever anyone may say, nobody has the faintest idea. The $1tn could be a wildly exaggerated figure put out there by the cyber security industry in order to generate sales. Or it could be the result of some hyperactive algorithms. Or it could be true. But nobody can assert with any confidence which it is. — <a target="_blank" href="http://www.guardian.co.uk/technology/2011/sep/21/cybercrime-spam-phishing-viruses-malware?newsfeed=true">Misha Glenny</a>