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ExtraTorrent.cc > Articles > Overstated Losses Due Online Crimes

Overstated Losses Due Online Crimes

Overstated Losses Due Online Crimes

Added: Monday, April 23rd, 2012
Category: Recent Headlines Involving File Sharing > Current Events
Tags:ET, p2p, Torrent, Piracy, Peer To Peer, Network, Hackers, Internet, BitTorrent, Google, utorrent, bitcomet, extratorrent, 2010, www.extrattorrent.com
A couple of Microsoft’s insecurity experts are sure that cybercrime losses are overstated. Dinei Florêncio and Cormac Herley are leading researchers at Microsoft Research, and they claim that although the idea is widespread that the global economy is losing around $1 trillion annually because of cyber crime, in fact the reality is not that impressive.

The researchers point out that if it’s possible to make a fortune by downloading and running software, there would be millions of people doing so. The experts took a look at piracy and cybercrime from an economic point and revealed that only a few criminals do well. As for the rest, they believe that cybercrime is only a low-profit struggle which isn’t even worth the effort.

Basically, such cybercrimes as spam and password-stealing feature the same economics as the fishing industry, and since fish stocks are driven to exhaustion, there will never be enough “easy money” to go around. The researchers believe that cybercrime estimates are mostly generated through using absurdly bad statistical methods, depending on the surveys made by consumers and companies.

In case 5,000 people are asked to tell about their cybercrime losses, it will only take one person to falsely claim he or she lost $25,000 due to scam to add $1 billion to the overall estimate. Taking into account that those people who never lost anything aren’t considered, the statistics for these anomalies aren’t cancelled out.

The experts explained that in cybercrime surveys they have examined 90% of the estimate came from the answers of 1 or 2 people only. According to their report, cybercrime billionaires can’t be located simply because they don’t exist. In the meantime, few people know anyone who’s lost a huge amount of money as the victims are far rarer than the exaggerated estimates would imply.

April 23rd,2012

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Date:  Monday, April 23rd, 2012

Comments (4) (please add your comment »)

posted by ET junkie (2012-04-23 22:16:03)
No avatargood article. common sense says they aren't losing that much money, if any at all.

posted by (2012-04-23 23:55:56)
No avatarThe record & movie industries are losing money to be sure. But not nearly as much as they like to claim. Loses based on previous years are largely due to the fact the both industries have introduced little that consumers consider worth buying. Accounts of losses based on what is shared are inflated due to false assumption that just because someone downloaded something they would have paid $50 for it is bunk.

It is interesting to note that in the 70s Sony fought and won for the consumers right to copy music for their own use. (I think it was called the "Sony Personally Recording Act") Back then Sony had no music or movie portfolio, they made cassette recorders back then.

posted by (2012-04-24 06:03:40)
No avatarim sure they are losing tons of money they are just blaming the wrong sources they say the loses are due to piracy when it is just less and less people anymore go out to movies partly due i think to the crap they release half the movies anymore have amazing special effects but a crap story i bet if they put out a good movie once and awhile they would see a rise in income just my opinion

posted by (2012-04-24 06:27:05)
No avatar@lol66: "The record & movie industries are losing money to be sure" not possible! they have already researched this and found that ever since piracy has increased they have achieved a 9 billion dollar increase. this post also states that some are profiting off of there crimes? well if you are a down loader... who is stupid enough to sell a downloaded album or movie? now if they are talking about the site owner asking for donations? that's for server hosting you morons! the post also is not specific to what cyber crime's and there is a lot of crimes made NOT related to piracy. on line scams such as free offers that are fake.....just to name something that might not be related to the recording industry.

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