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McAfee: Data Theft Results in Trillion-Dollar Losses

With data theft and loss constantly in the news, one security company is stressing the implications of unsecured computer files.

McAfee, the CA-based software best known for its consumer anti-virus offerings, is trying to get consumers, corporations and government organizations to take data security more seriously. According to the software maker, malware increased by a staggering 400 percent in 2008.

"This was a very insidious type of malware that was designed either to steal your data, steal your identity, steal your money, and in many cases the scale as well as the sophistication was very alarming," said McAfee CEO David DeWalt during the World Economic Forum in Switzerland. According to McAfee's international security survey of over 800 companies, 80 percent of said business claimed that malware found on their systems had the intention of maliciously gathering financial information.

Traditionally, malware is created for the purpose of stealing financial data, in contrast to viruses and trojans, which cause more general damage to a system. In the same survey, 42 percent of the same businesses claimed that fired or laid off personnel were the primary security concern. Furthermore, those companies surveyed have an average of $12 million in data stored outside of their home country.

The largest data debacle to make headlines in recent years was that of retailer TJX, which agreed to pay Mastercard $24 million after the company had a security breach that exposed millions of its customers. Last week, a second-hand MP3 player purchased in Oklahoma was found to contain sensitive U.S. military data. With flash drives and MP3 players becoming so inexpensive and dispensable, the security of private data is now more difficult to maintain than ever.

  • jhansonxi
    What's the cost of the additional power consumption of PCs running McAfee or Symantec security apps?
    Reply
  • LATTEH
    i have mcafee it doesnt take a lot of ram in background i think its really god Plus im getting it for free from comcast :D
    Reply
  • LATTEH
    good*
    Reply
  • McAfee? Never.

    That is one oofthe worst companies in that type of business!

    I notified McAfee several times about serious "defects" of their products, and they were totally unintrested.

    The McAfee for years and knowingly sold products which stall CPU and require reinstallation of operating system, or computer would never boot!

    The worst products one can buy that is Symantek, and McAfee!

    I know, they know, many people know, and now you know it to.

    Stay away from that crap!
    Reply
  • NuclearShadow
    I think McAffe is exaggerating simply to act like they are the solution to the problem. While data theft certainly is a real concern its certainly something that can be combated with simple knowledge and common sense.

    Lets face it when corporations get infected with malware its because the employs aren't doing what they should be in the first place. Why heavy restrictions aren't placed on the workers computers is beyond me.

    A program to combat it like McAffe isn't the answer. It does not protect you against new threats until its updates which can and probably will be to late with how often new malware pops up. All you have to do to avoid such things is to be educated and know whats safe and what isn't.
    Reply
  • Tindytim
    Why would you have private information that you want secure on a network connected to the internet? Even if it were to be infected, through some idiot with a USB drive, it still wouldn't be able to send out any information.
    Reply
  • davidgbailey
    If I sold coffee I'd tell you it helps fight cancer, if I sold nicotine patches I'd tell you they improve your memory and concentration, and if I sold McAffe I'd tell you that if you didn't install it right now you would lose everything you owned to online predators in the next 24 minutes. They just got your due to your browsing of Tom's. You're doomed.
    Reply
  • davidgbailey
    *IP
    Reply
  • tonitelaoag
    if you want the best firewall for your pc or laptop,get zonealarm pro, and for free antivirus you get the avg
    Reply
  • MrBradley
    Nod32. 'Nuff said.
    Reply