IP: Cyber-extortion: Risks Digest 20.94

[Dave Farber <farber@cis.upenn.edu>]

>Date: Thu, 6 Jul 2000 10:31:29 -0400
>From: "Edelson, Doneel" <doneel.edelson@eulergroup.com>
>Subject: Cyber-extortion
>
>Instances of "cyber-extortion" are increasing dramatically, according to
>Dave Marziliano, an FBI agent in New York who specializes in computer crime
>and security.  Cyber-extortion involves hackers blackmailing companies by
>threatening to turn over purloined strategic data to their competitors.
>Marziliano says these cases are growing due to an increase in the number of
>hackers, particularly in underdeveloped countries.  Most incidents involve
>relatively small amounts of money, $50,000 to $100,000, which many companies
>would rather pay than take the chance of losing competitive advantage.
>[Source: InformationWeek Online, columnist John Soat, and InformationWeek
>magazine, July 3, 2000, page 150.]