Tuesday, November 29, 2005

Cybercrime Pays ($105bn)

Two interesting bits of statistics: eMarketer estimates worldwide e-commerce sales in 2004 at $2.7 trillion. US Treasury cybercrime adviser Valerie McNiven makes headlines by estimating total proceeds of cybercrime over the same year at over $105 billion, exceeding illegal drug trade in profitability.

So things like phishing, identity theft, spying and extortion make up about 4% of the total Internet economy.

Puts this year's puny $26 billion in US online holiday season turnover into perspective, doesn't it?

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