NCPA - National Center for Policy Analysis

Tech Companies Wary of Major Government Cybercrime Help

April 4, 2000

The Internet industry's top leaders say they can combat computer crime without new federal laws. Similarly, most government officials think cybersecurity is a problem the industry must take the lead in handling.

The industry is concerned about bad publicity in the event of a serious cyberattack. They are also concerned about the protection of private data -- from both the cybercriminals and government agencies.

  • The Federal Bureau of Investigation estimates that cybercrime costs industries and government $10 billion a year.
  • Ninety percent of companies polled by the Computer Security Institute said they have had a computer security breach in the past year.
  • But the FBI says only 17 percent of the victims of cybercrime report the incidents to government agencies.

KPMG's Chuck Bowe says companies just want to recover as much lost money as they can, give the perpetrator a slap on the wrist and get on with business -- because they fear customers will flee if the security breaches are publicized.

Source: Joseph Guinto, "Business Says 'No Thanks' to Government Cybercrime Efforts," Investor's Business Daily, April 4, 2000.


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