IP: Cyber-extortion: Risks Digest 20.94

[Dave Farber <farber () cis upenn edu>]

> 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.]