Huge cost to economy from spyware, viruses, theft

A new study completed by the FBI finds a costs of mver $60 billion from theft and malware.

The FBI completed a  new study that shows the cost to the economy of spyware, malware, theft and viruses runs some $67.2 billion a year annually, says

"This would be 2.8 million U.S. organizations experiencing at least one computer security incident," according to the 2005 FBI Computer Crime Survey. "With each of these 2.8 million organizations incurring a $24,000 average loss, this would total $67.2 billion per year."

By comparison, telecommunication fraud losses are about only $1 billion a year, according to the U.S. Secret Service. Also, the overall cost to Americans of identity fraud reached $52.6 billion in 2004, according to Javelin Strategy & Research.