Cyber security heavy hitters gather in Brooklyn, warn of cyber crime increase

One of the top minds in cyber security says that the Internet is getting to be scary place.

Internet crime is on the rise and businesses and individuals need to move fast to protect their financial and intellectual property, said Marcus Sachs, VP of National Security Policy for Verizon, speaking at a special lecture on cyber security held Thursday at Polytechnic Institute of New York University (NYU-Poly), noted for excellence in the cyber security area.

Computer crime is no longer the province of amateur hackers and students out to prove their tech cred. The criminal community has discovered that the Internet is the place to go because, as bank robber Willie Sutton famously said, “That’s where the money is.”

Unfortunately, Sachs says, the rate of innovation by organized cyber criminals is faster than the rate of innovation by those who fight them. A recent Government Accountability Office analysis indicates cyber crime reported by federal agencies alone jumped 680 percent since 2006.

(read more...)