Photo: Gen. Keith Alexander
NSA Chief: Cybercrime Constitutes The “Greatest Transfer Of Wealth In History” -- Josh Rogin, Foreign Policy
The loss of industrial information and intellectual property through cyber espionage constitutes the "greatest transfer of wealth in history," the nation's top cyber warrior Gen. Keith Alexander said Monday.
U.S. companies lose about $250 billion per year through intellectual property theft, with another $114 billion lost due to cyber crime, a number that rises to $338 billion when the costs of down time due to crime are taken into account, said Alexander, the director of the National Security Agency and commander of U.S. Cyber Command, in remarks Monday at the American Enterprise Institute.
"That's our future disappearing in front of us," Alexander said, quoting industry numbers to estimate that $1 trillion was spent globally last year on dealing with cyber espionage and cyber crime.
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My Comment: I am skeptical of the stats that he is quoting .... Alexander said, quoting industry numbers to estimate that $1 trillion was spent globally last year on dealing with cyber espionage and cyber crime.
Cyber espionage and cyber crime costing more than the Afghan war .... hmmmm ... I doubt that.
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