Cybercrime costs biz more than physical crime

Friday, 17 March 2006, 1:11 AM EST

Cybercrime is more costly to businesses than physical crime, according to a recent IBM survey of 600 US businesses. Lost revenue, wasted staff time dealing with IT security attacks and damage to customer goodwill were rated as a bigger problem than conventional crime by 57 per cent of firms in the healthcare, financial, retail and manufacturing industries. Respondents in the US finance industry (71 per cent) were the most concerned about the threat of cybercrime.

At The Register.

[ Read more ]




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