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Losses from stolen passwords exceed damages from virus attacks

A recent study by Trusted Strategies, L.L.C. surprisingly values the average cost to an individual company from a single virus attack to only $2400.
The study titled "Network Attacks: Analysis of Department of Justice, Prosecutions 1999 - 2006" examines all cases of cyber crime related to network intrusion and data theft disclosed by the US Department of Justice between March 1999 and February 2006. The average financial loss of a single company per case has been $3 million whereas the greatest financial losses of more than $1.5 million on average occurred after a theft of IDs and passwords. It is shown that losses from stolen IDs and passwords clearly exceed damages from worms, viruses and other attacking methods. Interestingly, 84% of the crimes could have been prevented if the identity of the connecting computers had been checked in addition to user IDs and passwords.
In the article "Trusted Computing bekommt Rückendeckung", published on 4 September 2006 on zdnet.de, Martin Fiutak points out that the study confirms Trusted Computing technology, especially its hardware identification concepts. It has to be noted though, that the study has been ordered by a company which itself sells Trusted Computing technology: Phoenix Technologies' products support Trusted Platform Modules (TPMs). Suzy Bauter, spokeswoman of Phoenix Technologies resolved doubts about the credibility of the study by saying: "We invented nothing by ourselves"

Relevant Links:
- Article by Martin Fiutak on zdnet.de
- Trusted Strategies 
- The contractor of the study, Phoenix technologies



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