We live in a "new" world. Cybercrime is upon us and destined to get even bigger, says the head of the USA's Cyber Command. FP takes up the story....
The loss of industrial information and intellectual property through cyber espionage constitutes the "greatest transfer of wealth in history," the nation's top cyber warrior Gen. Keith Alexander said Monday.
U.S. companies lose about $250 billion per year through intellectual property theft, with another $114 billion lost due to cyber crime, a number that rises to $338 billion when the costs of down time due to crime are taken into account, said Alexander, the director of the National Security Agency and commander of U.S. Cyber Command, in remarks Monday at the American Enterprise Institute.
"That's our future disappearing in front of us," Alexander said, quoting industry numbers to estimate that $1 trillion was spent globally last year on dealing with cyber espionage and cyber crime.
But the real threat on the Internet will come when cyber attacks become militarized, a threat the U.S. must deal with now, he said.
"What we need to worry about is when these transition from disruptive to destructive attacks, which is going to happen.... We have to be ready for that," Alexander said. "This is even more difficult to the nuclear deterrent strategies we used to think about in the past."
There are 75 million unique pieces of malware in the database of McAfee, a leading cyber security company, Alexander said. Botnets, networks of compromised computers controlled remotely, send out 89.5 billion unsolicited e-mails per day, about one third of all emails sent. Over 100 countries have network exploitation capabilities, he said.