What You Need to Know About Cybercrime

by Jo Escotal on August 1st, 2010

Cybercrime also known as Computer Assisted Crime or Computer Incidental Crime is a problem facing many companies and individuals.  


Examples of Cyber Crime include the following: 

Auction Fraud, Counterfeit, Credit Card Fraud, Debt Elimination, Employment/Business Opportunities, Identity Theft, Escrow Services Fraud, Extortion, Investment Fraud, Lotteries, Nigerian 419, Phishing, Spoofing, Ponzi Scheme, Pyramid Scheme, Reshipping, Spam, Third Party receiver of funds and Computer Trespassing

Cybercrime cost American companies a median loss of $3.8 million a year, according to a study released Monday by security firm ArcSight and the Ponemon Institute, a privacy research organization.

Losses to cybercrime ranged from $1 million to $52 million, the report said.

Cybercrime threats to companies and corporations include intellectual property theft, bank account theft, virus and spyware releases, confidential information leaks onto the Internet and disruptions to the country's critical and financial infrastructure.

According to the study, responding to Web attacks, exploits through malicious code and malicious insiders accounted for 90 percent of all cybercrime costs per organization per year. Those costs mostly came from internal detection and recovery activities, which accounted for 46 percent of annual response expenses.

If you are a victim or cybercrime report it immediately to authorities and here are some organizations that deal with cybercrime activities.

 

Organizations
FBI, CIA, (NW3C) National White Collar Crime Center and Homeland Security

Significant US Laws

Electronic Communication Privacy Act (ECPA)

Computer Fraud and Abuse Act (1986)

Patriot Act (Terrorist Act)

Gramm-Leach-Bliley Act (GLB) Privacy Act

Sarbanes-Oxley (SOX) Accounting/Financial Auditing (Enron, World Com)

Payment Card Industry Data Security Standards (PCI DSS) Credit Card Security Issues

Import/Export Encryption Restrictions

Digital Signature Laws (Signature Keys, Certificates, Tampering)

Non-US Laws, Canadian Laws, European Laws

Digital Rights Management (Music and Videos) Case Studies Napster and Demonoid

Privacy


US Privacy Law

Health Insurance Portability & Accountability Act (HIPAA) Medical and Health Information

GLB US consumer privacy notices

California Senate Bill I386 (SB I386) Information disclosures

 

Jo Blitz Escotal
CEO
Escotal.com

 

 

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