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Cybercrime Syndicates Shelling Out Big Bucks For New Scams

By Vigilize | Wednesday, May 14, 2014 - One Comment

Malware developers receive plenty of incentive from organized crime leaders.

European security sources have revealed a global crime syndicate leader is offering up a Ferrari to whichever of his associates comes up with the best scam. The offer was presented on a professionally produced video tucked away in a dark crevice of the internet. The video is now the subject of an investigation by the European Cybercrime Centre (EC3). This just goes to show the lengths to which crime syndicates will go in order to recruit young talented hackers. There are juicy rewards waiting for hackers who develop risk-free remote controlled malware.

“In real cybercrime, [we’re going after] the people who develop and distribute the malware. We are trying to find them and identify them. It’s like cutting the snake’s head off. But there are a lot of heads, and they grow back very quickly,” stated head of EC3 Troels Oerting.

“Organised crime has not just embraced this but integrated cybercrime into its business.”

Original article by Paul Peachey. Read the full story here.

We don’t usually post articles that do not have a direct impact on our Client’s existing risk structure; and this article is a bit on the fringe of that. However, this article highlight’s one of the systemic causes of cybercrime . . . . the bad guys are making lots more than the good guys. If we can find a way to undermine that, we can lower risk. Unfortunately, affecting motivation is not as easy in the world of information security, and requires an approach much greater than the sum of the parts!

Meanwhile, we want to make sure our Clients realize that they may become the targets of highly sophisticated, focused attacks. The goal of these contests is to find new ways to break through our existing layers of security, and thus we must be constantly working a continuous improvement process. If you have one layer of AVS, consider a second. If you have IPS, consider IDS. If you have an Incident Response Team, train and test them. We MUST stay ahead of the bad guys, even if . . . . no, because . . . . we make less money than them!

Which brings us to the last reason we post this article review, which is that we are proud to work with professionals who care not as much about money, but about the integrity of the person looking back at them, when their laptop screen becomes a mirror in the wee hours of the morning.


One Response to “Cybercrime Syndicates Shelling Out Big Bucks For New Scams”

Comment from Larry Turner
Time 05/14/2014 at 2:05 pm

Right on…….. It is good for the banks tech employees to know what is happening out Side of the banks invironment.
I am certainly comfortable knowing the guys at my bank, where my money is, are associates of Infotex.
Keep up the good work and stay on target……

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