An Economic Forecast for Digital Damages in 2003
news alert (excerpt)
London, UK - 31 January 2003, 10:30 GMT - In January 2003, the worldwide
economic damage caused by verifiable overt digital attacks (at an all time
high of nearly 20,000), covert attacks and malware outbreaks such as Slammer's
Denial of Service, is now estimated to have crossed $8 Billion according to
a study completed by the mi2g Intelligence Unit for the banking, insurance
and reinsurance industry and released this morning.
As if hacker attacks were not posing enough of a risk, the Slammer malware
attack caused a major disruption to digital networks announcing its arrival
in South East Asia on 25th January and spreading worldwide. As Slammer spread
across the globe and caused an impact, the following cases were widely witnessed:
1. Emergency Services - Interference with emergency services telephone
systems
2. Internet Back Bone - Disruption to 5 of 13 root DNS servers
3. Airlines - Online airline ticketing systems were disrupted
4. Banking - Automatic Teller Machines failed or slowed down
5. Payment Systems - Credit card services were disrupted
6. Nationwide Incidents - Internet, Computing and Telecom (ICT) services
were disrupted in South Korea and other major countries for up to 9 hours
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