Cybercrime Now Worth $105 Billion, Bypasses Drug Trade

Stony Stevenson writes "Citing recent highly publicized corporate data breaches that have beset major companies like Ameritrade, Citigroup, and Bank of America, McAfee CEO David DeWalt, said that cyber-crime has become a US$105 billion business that now surpasses the value of the illegal drug trade worldwide. Despite the increase in government compliance requirements and the proliferation of security tools, companies continue to underestimate the threat from phishing, data loss, and other cyber vulnerabilities, DeWalt said. 'Worldwide data losses now represent US$40 billion in losses to affected companies and individuals each year, DeWalt says. But law enforcement's ability to find, prosecute, and punish criminals in cyberspace has not kept up: "If you rob a 7-11 you'll get a much harsher punishment than if you stole millions online," DeWal remarked. "The cross-border sophistication in tracking and arresting cyber-criminals is just not there."'"

Comments

From the 419 Grammar Nanny

[HaveNoMouth]

This has got to be the sloppiest 419 I've ever read. Many things were unclear, such as

• Whether Mr. DeWalt was alive or deceased;
• Why his US$105 billion could not easily be transferred out of the country. Although you hint at "cross-border sophistication in tracking and arresting..." I would still prefer a more explicit explanation of the difficulty.
• What you are offering as my percentage for assisting you with the transfer;
• Where I should reply with my acceptance of your offer.

I also note the absence of a pleasant, disarming greeting at the top, and the phrase "May the blessings of God be with you" at the end. Those are pretty much mandatory.

Please correct these mistakes and try again.