Computer-related crime is one of the fastest-growing forms of crime worldwide, the security head of a Centurion-based information and communications technology company said on Wednesday.
Wolfgang Selzer, head of security at Exponant, said that in 2005, white-collar crime in South Africa was reported by Business against Crime as running in excess of R40-billion a year.
"If the South African trends follow that of the rest of the world, we can safely assume that cyber-criminals are responsible for a sizeable portion of that," said Selzer in a statement.
He said the CEO of leading computer anti-virus company McAfee, David DeWalt recently indicated that cyber-crime had become a $105-billion (about R703-billion) that now surpasses the value of the international illegal drug trade.
Selzer said many companies continue to underestimate the threat from phishing, data loss, identity theft, information leakage and other cyber-vulnerabilities.
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