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back to article US cybercrime losses reach $240m

Financial losses from online crime reported to US authorities reached a record high last year, topping nearly $240m. Taking into account unreported crimes the real figure is likely to be much higher. Auction fraud and other forms of cybercrime reported to the Internet Crime Complaint Center (IC3) were up $40m or 20 per cent from …

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RW
Coat

$240 million? Is that all?

That's less than $1 per head on average. Equivalent to 1% of the population losing $100 once a year to "cybercrime." Or one out of a thousand citizens losing $1000 annually.

Sounds like chickenfeed to me.

Somebody refresh my memory: what's the aggregate cost so far of the Iraq and Afghanistan incursions?

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Linux

For the cost check here.

http://www.nationalpriorities.org/costofwar_home

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so that's like..

a day in iraq then? slow news day?

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Anonymous Coward

That's bullshit!

These statistics are completely understated.

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Pirate

So

So if you read the terms of Ebay Paypal , they must be coining the money in by doubling up the losses of the unfortunate seller , by a simple stroke of a key !

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Thumb Up

Nice to see cited sources for once, re: crime costs

After seeing so many inflated guesstimates from computer security vendors over the past decade, it's good to see some hard numbers reported in by some very real people. The one dollar per person, as suggested by RW, sounds plausible. Serious enough to warrant attention, but not stupid.

Compare: "Code Red has already cost an estimated $1.2 billion in damage, and may top out at an incredible $8.7 billion when its bitter reign of destruction finally ends."

http://www.theregister.co.uk/2001/08/02/code_red_hysteria_8_7bn/

So, $240 million lost to real, reported fraud compared to $8.7 billion lost to imaginary, guesstimated damage from a single piece of malware. I wonder if any of the Code Red-affected folks filed insurance claims.

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@Gordon

The damage from Code Red was far from imaginary. As someone who was involved in the clean-up for one major international company, I'd say the figure quoted was perfectly realistic.

Your continued restating of the fallacy that viruses cost nothing and impact no-one is irresponsible

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