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Computer Crime

Computer theft is currently a $10 billion industry. Insurance claims on stolen computers have increased 600% with average theft claims in 1992 of $5,000 growing to $500,000 in 1998. Crimes where computers are the target are currently being replaced by computers being used as the instrument of crime

  • Fraud
  • Theft
  • Embezzlement
  • Extortion
  • Stock manipulation
  • Hacking type crimes including Virus transmission and unauthorized intrusion into files

Are you safe?

Greater and greater protections are needed to assure your business record protection from intrusion. According to the U.S.Attorney’s office, disgruntled employees lead the list of computer crime perpetrators, followed by hackers, copyright and intellectual property thefts, and economic espionage, with Internet auction fraud growing quickly.

What can you do?

In 1996 Congress updated 18USC §1030, which gives broadened scope to computer crime. Vigilant corporate management should remember that even nuisance acts like password tampering could lead to criminal prosecution. Employers and employees alike should become aware of the federal statute’s protections and penalties.

Some information and statistics in this article are from material presented at “Cybercrime and Computer Forensics Executive Symposium” held in Cambridge January 20, 2000. Deloitte & Touche should be acknowledged and thanked for sponsoring the symposium and opening it to the Boston business community.

N.P. James Insurance Agency

N.P. James Insurance Agency specializes in providing products and professional E&O insurance for technology-based global companies.