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TechnologyPost.com
January 3, 2000
Information Theft Soars
Information theft losses double in three years
A report just out says that while many firms are
watching their systems for hackers over the Y2K
period, they may have shut the door after the
horse has bolted. The report by investigative
consulting company Kessler & Associates says that
proprietary information theft by hackers and
unauthorised people has more than doubled over
the past three years. Michael Kessler, the firm's
president, said that reported financial losses of
about US$42 million last year were more than double
the $20 million reported in 1997. "Computer crime
is much more complex than bugs and viruses," he
said, adding that the whole Y2K issue enlightened
business owners to pitfalls in their systems, "but
there must also be heightened awareness of the
growing number and variety of computer security
breaches that can weaken a company's balance sheet.
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