ZoneAlarm News
Cyber crime a significant threat to business
18, August 2008
A group in Ireland has estimated that the "black cyber economy" is worth 340 million euros a week and is now a threat to legitimate businesses.
The black cyber economy refers to the growing industry of hackers, scammers, fraudulaters and other dubious business operations that act outside the law.
The Irish Small and Medium Enterprises lobby group predicts jobs will be lost and firms will be forced to close unless action is taken to stop the spread of the illegal operators.
More than half the small businesses in Ireland were victims of crime at least once last year. The trend is for crime to increase as economies slow down and financial pressures bite.
Much of the world's hacking originates from Eastern Europe but people and companies in the more affluent countries are often the targets.
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