November 27, 2006 1:41 PM PST
Security from A to Z: Kid's game?
- Related Stories
Trio sentenced to 8 years in U.K. cyberattack schemeOctober 4, 2006
U.S. joins European cybercrime conventionOctober 2, 2006
FBI calls for hacker helpAugust 2, 2006
Police arrest suspected bot herdersJune 27, 2006
Online threats outpacing law crackdownsJune 15, 2006
Money lost to cybercrime down--againJune 14, 2006
But the rise of the Internet and big business's reliance upon it, has facilitated a paradigm shift: Computer crime has mushroomed from the act of "angry young men" to become a fast-growing branch of international organized crime.
The growth and popularity of e-commerce and online banking has further fuelled the cybercrime boom, as traditional fraudsters take their tricks online--and learn a few new ones.
Last year, columnist Simon Moores of News.com sister site Silicbsi.com described how the Internet has given organized crime a profit margin that legitimate business can never expect to equal. He said hundreds of billions of dollars are hidden in offshore accounts. "This money fuels other criminal ventures, from pedophile pornography to drugs trafficking," he claimed.
The promise of gain has turned computer misuse from child's play into organized global crime, observers say.
Natasha Lomas reported for Silicon.com in London.