Cybercrime has become a threat to the nation’s economic and security interests, according to a report released Monday by a Congressional research and investigation agency. Cybercrime in its various forms — computer crime, identity theft and phishing — costs the U.S. economy some $117.5 billion a year, reported the Government Accountability Office. Reporting remains a major challenge to fighting cybercrime, said David A. Powner, GAO director of IT management issues and the lead author of a recent report.
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Cybercrime Costs US Economy at Least $117B Each Year
Posted by: John P. Mello Jr. July 26, 2007 10:09 AMCybercrime has become a threat to the nation’s economic and security interests, according to a report released Monday by a Congressional research and investigation agency. Cybercrime in its various forms — computer crime, identity theft and phishing — costs the U.S. economy some $117.5 billion a year, reported the Government Accountability Office. Reporting remains a major challenge to fighting cybercrime, said David A. Powner, GAO director of IT management issues and the lead author of a recent report.