


06/2010
Selected for the Global Economic Symposium 2010
Cybercrime is now the fastest growing sector of cross-border organized crime. In 2009, reported losses in the US stood at $560 million up from $265 million the previous year. This figure represents the tip of the iceberg for actual global losses, but the rate of increase is consistent in other countries. According to Verizon, industrial espionage accounts for 35% of malware and hacking activity on the web. The last year has seen a deepening relationship between governments worldwide and companies like Google perceived now as strategic economic and security assets.
On assuming office, President Obama announced cyber security as a strategic priority of his administration. In the United States but increasingly in Europe, too, governments are establishing institutions to deal with critical infrastructure vulnerabilities and programs to engage both business and individual users on the issue.
This strategy is in its infancy but attracting ever greater attention and funding. What is the role of the private sector? How can cooperation with major powers such as Russia, India and China on internet administration and on internet security be initiated and pushed forward? How should legislation attempt to adapt to cyber reality? What is the desirable balance between security and questions of civil liberties?