About Us | Contact Us
View Cart

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.

Dan


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……
Larry

Latest News
    What are the top seven risks your board should know about in 2021? Since his first board presentation in 2000, when Dan presents audit reports to boards of directors, he also talks to the board about the top risks the institution is facing. Since 2006, Dan has been compiling a list of the “top seven […]
     A Timeline Update as of 02/22/21 An update to our Newest Employee’s FIRST Technical Article Another interim post-mortem review . . . . A Note About Updates: We have decided to leave the original article as it was originally posted and to update this post with any changes that have been made. You can see […]
    Another awareness poster for YOUR customers (and users).  Now that we have our own employees aware, maybe it’s time to start posting content for our customers! Download the large versions here: Awareness Poster (Portrait) Awareness Poster (Landscape)   You are welcome to print out and distribute this around your office.  
    A Webinar-Movie The 2020 annual webinar update on the subject will include a review of the previous years’ movies that are already available, and a discussion about alternative tactics that have arisen from recent virtual conferences and regulator panels.
    The cybersecurity industry faces challenges, and some of them may involve your business… An article review. In a world where threats to your organization’s electronic assets are constantly emerging and evolving a cybersecurity insurance policy can help mitigate risk…but what kind of risk does the cybersecurity insurance industry face?  A new article in the Harvard […]
    A Timeline as of 01/24/2021 Our Newest Employee’s FIRST Technical Article Another interim post-mortem review . . . . A Note About Updates: We are leaving this article as is, but for any updates to the timeline, check the Autopsy of the SolarWinds Hack Timeline Update article!      – Vigilize Introduction: As the managing […]
    PRESS RELEASE – FOR IMMEDIATE RELEASE BUSINESS NEWS FORUM AND CONFERENCE NEWS infotex is proud to announce that Dan Hadaway will be moderating a series of IT Forums for the Ohio Bankers League. “We are excited to continue fostering the relationship with the OBL to help educate and keep Risk Management at the forefront of […]
    Top 7 Trend Articles of 2021. . .  . . .For ISOs of Small Financial Institutions. Welcome to our annual T7 article:  a list of our favorite trend articles from the past year.  Our intent: help you organize your thoughts as your work through your strategic planning process.  We hope reviewing these articles will help you […]
    Another awareness poster for YOUR customers (and users).  Now that we have our own employees aware, maybe it’s time to start posting content for our customers! Download the large versions here: Awareness Poster (Portrait) Awareness Poster (Landscape)   You are welcome to print out and distribute this around your office.  
    A Webinar-Movie In our current world of uncertainty there is at least one thing that is certain. Business needs to continue, and that means that it is important for managers to be able to meet with their team even if everyone is working remotely at this point. In this Webinar-Movie, Dan will compare virtual meeting […]