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Cybercrime is costing the British economy £27 billion ($43 billion)


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#1 Animal

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Posted 17 February 2011 - 05:48 PM

LONDON—The U.K. government said cybercrime is costing the British economy £27 billion ($43 billion) annually—roughly 2% of the country's economic output—underscoring how criminals continue to outmaneuver governments and corporations alike.

The report, the first attempt by the U.K. government to calculate losses from cybercrime, comes as officials here and in the U.S. have identified cyberattacks, including by organized criminals, terrorists and other states, as among the top threats their countries face.


Full Article from: The Wall Stree Journal|Europe By CASSELL BRYAN-LOW FEBRUARY 17, 2011, 2:16 P.M. ET

The Internet is so big, so powerful and pointless that for some people it is a complete substitute for life.
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#2 Ted Striker

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Posted 08 April 2011 - 11:06 AM

I think that part of the reason why the shift to cyber crime accelerated is because many European countries adopted rules that required credit cards to have a chip enabled. This reduced counterfeit fraud to $0, or so they claim, so criminals turned to new ways to defraud people.




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