Cybercrime

 

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Computers, like so many things in life, can be a blessing and a curse. They can be used to commit crimes, and they can also be used to solve crimes and sometimes even prevent them.

The Fraud

Damage caused by viruses, denial of service attacks, sabotage, stealing data and attempting to sell it back to the victim (or a competitor) top the list. Now add data alteration, data destruction, data theft, extortion, hacking, email bombs, child porn . . . and on and on.

The Flaw

The flaw is an ever-more-connected world where the crooks are more innovative than the software engineers and data flies around the globe at warp speed.

The Fix

How does one attach a value to cybercrime losses so they can be insured? Can computer data, an intangible asset, be insured at all?

What about liability for customer losses due to a security breach? How else can cybercrime risks be mitigated beyond firewalls and spyware blockers and anti-virus programs?

There's a discernable difference among federal, state and international laws (or lack of same) dealing with cybercrime. What's a crime in the U.S. isn't necessarily a crime in Nigeria or Aruba. Standardization of laws is needed on a global basis if enforcement is to be effective.