McAfee Virtual Cybercrime Report Paints Grim Picture

Some of the report's most compelling highlights include:

• The FBI estimates that cybercrime cost about $400 billion in 2004.
• In an investigation, codenamed "Operation Firewall," U.S. and Canadian authorities announced the arrest of 28 people from six countries involved in a global organized cybercrime ring. They operated Websites to buy and sell credit card information and false identities. They bought and sold almost 1.7 million stolen credit card numbers. Of these stolen credit cards, financial institutions have estimated their losses to be $4.3 million.
• The use of pseudonyms or online identities provides an anonymity that is attractive to criminals. Sources estimate that perhaps only 5% of cybercriminals are ever caught or convicted.