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04 Jun 09
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If you’ve been reading Slashdot, you’re probably stunned to learn that cybercrime has just now ballooned into a $105 billion industry, making it more lucrative than the global trade in illegal drugs. This from David DeWalt, CEO of anti-virus vendor McAfee, who dropped the billion-dollar bombshell at a conference in Tucson, where it was uncritically reported by InformationWeek.
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The $105 billion figure has been bouncing around the media like a bad check for two years, being quietly debunked by security experts and the tech press (including InformationWeek, in 2005), even as the more mainstream media nurture and love it.
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It all started with a quote in a Reuters story from technology consultant Valerie McNevin the former privacy officer for the state of Colorado
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There’s no evidence that McNevin offered anything to back up her claim (and the $105 billion figure for drug profits is flat-out wrong).
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Confused? No longer! Here’s THREAT LEVEL’s flowchart of how this fake news has gotten around, and occasionally encountered resistance.
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