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IP: Cyber-extortion: Risks Digest 20.94
From: Dave Farber <farber () cis upenn edu>
Date: Sat, 08 Jul 2000 09:52:05 -0400
Date: Thu, 6 Jul 2000 10:31:29 -0400 From: "Edelson, Doneel" <doneel.edelson () eulergroup com> Subject: Cyber-extortion Instances of "cyber-extortion" are increasing dramatically, according to Dave Marziliano, an FBI agent in New York who specializes in computer crime and security. Cyber-extortion involves hackers blackmailing companies by threatening to turn over purloined strategic data to their competitors. Marziliano says these cases are growing due to an increase in the number of hackers, particularly in underdeveloped countries. Most incidents involve relatively small amounts of money, $50,000 to $100,000, which many companies would rather pay than take the chance of losing competitive advantage. [Source: InformationWeek Online, columnist John Soat, and InformationWeek magazine, July 3, 2000, page 150.]
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