The internet is a new territory, a vast and hardly-explored universal
             domain that has only begun to reveal its capabilities and resources for the
             transfer of information and communication. Its prospects are both awesome
             and awful, depending on the motives behind its use. As information
             technology develops, computer crimes increase. The government and the
             private sectors have enacted laws and devised corollary approaches in
             addressing this problem and there is need to compare how far their efforts
             measure up with cyber law breakers. Recent developments indicate that cyber
             space is not a fairy kingdom or a place where dreams come true.
             Quite the contrary and if figures must be believed, the virtual world
             is not exactly a safe venue for business or private affairs. In its sixth
             annual Computer Crime and Security Survey in 2001, the Computer Security
             Institute of San Francisco reported on mounting financial losses to
             computer crimes and other information security breaches, 85% of which were
             incurred primarily by respondent large corporations and government agencies
             (Business Journal 2001). A third of these respondents said that they lost
             almost $400 million to cyber criminals in 2001 alone, an increase from a
             yearly average of $120 million in the three years before 2000 and $265 in
             2000, according to the Journal's surveys.
             The most common forms of losses have been theft of proprietary
             information at an aggregate of $151 million and financial fraud at $93
             million. Almost all of these occurred through their internet connection in
             combination with their internal systems as points of attack (Business
             Journal). Despite the rise of the said crimes, only one of three reported
             The US Department of Justice released a list of prosecuted crimes
             committed through the internet from 1998 to the present (2004). These
             crimes include the disabling of the control tower of a go...