Israel: $10m loss due to cybercrime
Date: October 31, 2006Source: globes.co.il
Israelis lost $10 million in 2005 through identity theft and Internet fraud in 2005, said Aladdin Knowledge Systems Ltd. (Nasdaq: ALDN; TASE: ALDN) today. Despite the high figure, Israel’s position is far better than the $680 million lost by 685,000 Americans who reported identity theft last year. The company released the figures at a company information security conference today.
Aladdin estimates that most of the losses were caused by the theft of passwords, which were then used to withdraw money or to make other transactions from the victims’ bank accounts.
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