Internet security breaches cost 10bn

[William Knowles <wk () C4I ORG>]

http://www.thetimes.co.uk/article/0,,35878,00.html

BY CLIVE MATHIESON
WEDNESDAY NOVEMBER 15, 2000

INTERNET security breaches, like those suffered in recent months by
Microsoft and Barclays Bank, are costing businesses more than $15
billion (10.5 billion) a year, according to an influential report to
be published today.

However, Datamonitor, the market analysis firm responsible for the
report, warned that many e-businesses remain ignorant about the risk
they are exposing themselves to.

The report warns that a failure to resolve Internet security issues
will jeopardise the growth of e-commerce.

Neither businesses nor consumers will conduct transactions or
sensitive communications across a medium they dont trust, the report
said.

However, a separate report released yesterday by MMXI Europe, the
Internet audience measurement group, revealed that the number of
people using the Internet in the UK had soared by 3.6 million, or 35
per cent, in the past 12 months to more than 13 million. The report
estimates that 31 million people, or 52 per cent of the population,
will use the web by 2005.

According to the report, Freeserve.co.uk, which 12 months ago ranked
as the biggest UK Internet site, has been relegated to third place
behind MSN.com and Yahoo.com.


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