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New level of BS reached

Wow, talk abought fear mongering!Cyber-crime Yields More Cash than DrugsThis is just total bunk.
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Written by Richard Stiennon on

Wow, talk abought fear mongering!

Cyber-crime Yields More Cash than Drugs

This is just total bunk. At a security conference in Ryadh of all places one Ms Valerie McNiven, a consultant to the US Treasury Department stated:

"Last year was the first year that proceeds from cyber-crime were greater than proceeds from the sale of illegal drugs, and that was, I believe, over $105 billion,"

The sale of illegal drugs drives the economy of several countries. It is very big. In my view cybercrime, while a very real threat does not even come close to the same order of magnitude as drug money.

Makes you wonder about the sort of advice the US Treasury Department pays for.

According to Reuters, McNevin, a former e-finance and e-security specialist for the World Bank, was speaking in Riyadh on the sidelines of a conference on information security in the banking sector. A little digging indicates that Ms McNevin is a lawyer. Her bio gives here credit for writings that were instrumental in setting layered security and defense in depth as the international standard for cyber security. Wow.

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