Economic Consequences

Abstract

The economic impacts of computer crimes involving malicious code attacks, unauthorized intrusion into networks and computer systems, denial of service of attacks, and others are substantial. In testifying before the Senate Select Committee on Intelligence on 6 February 2002, Dale L. Watson, Executive Assistant Director, Counter-terrorism and Counterintelligence of the FBI, pointed out that during the past several years the FBI had identified a wide array of cyberthreats, ranging from defacement of Web sites by juveniles to sophisticated intrusions sponsored by foreign powers. Watson also pointed out that a few of these incidents pose significant threats, including the theft of national security information from a US government agency or the interruption of electrical power to a major metropolitan area in the US, which will imply grave consequences for national security, public safety, and the economy. Virtually every critical US national infrastructure, including energy, transportation, and government operations can be forcibly shut down through the clever use of cybertools, for the purpose of coercing or intimidating the government and civilian population.