Summarize Essay Example | Topics and Well Written Essays - 500 words - 1

Summarize - Essay Example The report cited several important in the findings of the 2008 survey. First, financial fraud still constitutes the largest and most expensive cybercrime and security incidents. Here, it was found that an average of $500,000 was lost to those who have experienced fraud. Secondly, virus incidents still dominate the computing and networking community. The report, for instance, found that 49 percent of the respondents have experienced it for the past year. Then there is also the case of bots and malwares, which costs organizations around $350,000 to eliminate. Other cases of threats include theft of hardwares such as laptops and mobile devices and insider abuse of networks, breaches in security such as unauthorized access, website defacement, system penetration, password sniffing and sabotage. The findings of the survey, compared to that of last year, reflected a downward trend in cybercrimes and attacks on computer security. This could be attributed to the increase in security efforts of organizations. The study found that at least 68 percent of organizations have a security in place; 18 percent are developing theirs; while only one percent does not have a security policy. Furthermore, IT security budget still constitutes a significant share in the security budget for organizations in 2008. In regard to solving cybercrimes, the CSI survey reported that while most organizations attempt to identify the perpetrators, only 27 percent report the incidents to law enforcement agency or has been referred to legal counsel. In addition, organizations are also more averse to be involved in information sharing in order to solve computer and networking threats. According to the survey, the future computing and networking problems, as with the past two years, still concern issues about virus, malware, security, legal issues. The CSI, in its conclusion identified two kinds of threats that must addressed: the actual threats and the developing