The cost of the crime in many cases is immense.
The confidence of the general public has succumbed and internet is regarded as a place with ’wild west’ culture. The internet service providers, Government, hardware and software manufacturers have done little to minimize the various risks associated with use of internet.
Ekaterina Drozdova a doctoral candidate of Stern School of Business, New York University conducted a survey about legal codes regarding e-crimes in fifty countries and came up different actions that can account for breaching of cyber laws. They are; unauthorized access, unlawful fiddling with files or data (e.g. illegal copying, alteration, or destruction), damage to computer or network (e.g. viruses, worms, Trojan horses), use of information systems to commit or advance conventional crimes (e.g. scam, forgery, money laundering, acts of terrorism), computer-mediated spying, infringement of privacy in the attainment of personal data theft or damage of computer hardware or software (Sofaer & Goodman, 2001).
According to one report about the rising public anxiety in relation to e-crimes, 21% of the people felt at risk from e-crimes and only 16% worried about burglary in UK. It is also estimated that an average company or firm in UK loses about 3% of its profits to electronic theft. According to one estimate in the UK, £40 billion is spent on the fraud prevention industry which is equivalent to half of what the country spends on the National Health Service (Saxby, 2006). This alarming report is reason enough to undertake every measure to aid in provision of the security that the internet users deserve. The figures like this makes it clear that computer misuse is a very wide spread and board level issue that needs a more sound infrastructure to amply fight it, instead of relying on just the IT department of organizations to counteract it.