Aggressive Bytes: Counting the Cost of Cyber Crime

According to Alana Maurushat from the Cyberspace Law and Policy Centre at the University of New South Wales, computers are the weapon of choice for industrial espionage and hacking incidents are more widespread than reported. The European Commission estimates the worldwide damage to business from cyber crime at US$1 trillion annually. Governments across the globe are stepping up efforts to strengthen cyber security, but will it be enough? Maurushat urges increased public awareness, proper risk analysis and mandatory reporting of certain breaches to share intelligence. She also says the IT industry needs to be held liable for its product quality. Local cyber-detectives warn that under-resourcing leaves Australia vulnerable.