Even after 15 years of break-ins into enterprise communications networks, cyberspace still threatens orgnaizations. The Underground Economies: Intellectual Capital and Sensitive Corporate Data Now the Latest Cybercrime Currency report by McAfee and Science Applications International Corporation (SAIC) (NYSE: SAI) says that alongside economic recovery, organizations are reviewing their intellectual property and how they could lose from the leak of data as intellectual property becomes the primary target of cybercrime. The report says that cybercrime has become a paying enterprise and, "On average, this lost/breached data costs organizations more than $1.2 million, compared to less than $700,000 in 2008."
The new report comes two years after the "Unsecured Economies" report, which estimated the cost of data breaches, repairs, and recovery at $1 trillion.
Israel receives an unflattering mention in the "Underground Economies" report: it is ranked fourth in response to the question "Has your company avoided doing business with these countries?" after China, Pakistan, and Russia, as the countries least safe for storing data. At the other end of table, the UK, US, and Germany were perceived as the safest countries for storing data.
Remarks by Maglan Information Defense Technologies Ltd. technology director Shai Blitzblau highlight the sensitivity of databases in Israel. "Six government websites have been hacked since the beginning of the year," he says, adding that although the signs were that the hackings were politically, rather than criminally motivated, this was not necessarily the case.
Published by Globes [online], Israel business news - www.globes-online.com - on March 28, 2011
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