Feeds

Gartner invents new type of cybercrime

Economic mass victimisation

  • alert
  • submit to reddit

The Power of One eBook: Top reasons to choose HP BladeSystem

Within two years the world will see an incident of "economic mass victimisation" affecting thousands of surfers, but the perpetrators will never be caught.

This may sound like something from a James Bond film, but the prediction actually springs from top thinkers at the Gartner Group.

Gartner researchers reckon that with the way technology is developing, a "new class of cybercrimes aimed at mass victimisation" is inevitable. They forecast at least one such incident, affecting thousands of Internet users, will occur by the end of 2002.

What's more, Gartner expects the guilty party to get away Scott-free "due to a lack of adequate preparation by international law enforcement officials".

According to Richard Hunter, Gartner research fellow: "Using mundane, readily available technologies that have already been deployed by both legitimate and illegitimate businesses, cybercriminals can now surreptitiously steal millions of dollars, a few dollars at a time, from millions of individuals simultaneously."

The study warns that the economic value represented by cybercrimes will have increased by up to 10,000 per cent by the end of 2004, while cyberpolice funding will remain inadequate.

The annual US budget for fighting Internet-related crime is unlikely to exceed one per cent of the total Federal law enforcement budget, "an amount insufficient to fund even necessary cybercrime research," states Gartner.

It recommends surfers install a personal firewall on their computer, monitor financial transactions frequently and use a credit card with a low credit limit when shopping on the Web. ®

Related Stories

Europe to create cybercrime forum
Cybercrime laws are superweak
Look out! Here come the cybercops

Designing a Defense for Mobile Applications

More from The Register

next story
How long is too long to wait for a security fix?
Synology finally patches OpenSSL bugs in Trevor's NAS
Don't look, Snowden: Security biz chases Tails with zero-day flaws alert
Exodus vows not to sell secrets of whistleblower's favorite OS
Roll out the welcome mat to hackers and crackers
Security chap pens guide to bug bounty programs that won't fail like Yahoo!'s
HIDDEN packet sniffer spy tech in MILLIONS of iPhones, iPads – expert
Don't panic though – Apple's backdoor is not wide open to all, guru tells us
Researcher sat on critical IE bugs for THREE YEARS
VUPEN waited for Pwn2Own cash while IE's sandbox leaked
Four fake Google haxbots hit YOUR WEBSITE every day
Goog the perfect ruse to slip into SEO orfice
Putin: Crack Tor for me and I'll make you a MILLIONAIRE
Russian Interior Ministry offers big pile o' roubles for busting pro-privacy browser
prev story

Whitepapers

Designing a Defense for Mobile Applications
Learn about the various considerations for defending mobile applications - from the application architecture itself to the myriad testing technologies.
Implementing global e-invoicing with guaranteed legal certainty
Explaining the role local tax compliance plays in successful supply chain management and e-business and how leading global brands are addressing this.
Top 8 considerations to enable and simplify mobility
In this whitepaper learn how to successfully add mobile capabilities simply and cost effectively.
Seven Steps to Software Security
Seven practical steps you can begin to take today to secure your applications and prevent the damages a successful cyber-attack can cause.
Boost IT visibility and business value
How building a great service catalog relieves pressure points and demonstrates the value of IT service management.