Total Tests:

Cyber crime syndicates are forming closer relationships

By Kirsten Doyle for ITWeb
Thursday, August 15, 2019

In spite of several arrests of individuals associated with online underground marketplaces, activity among infamous threat actor groups, including Cobalt Group, FIN7 and Contract Crew, has not abated.

Commoditisation of the cyber crime industry

Ilia Kolochenko, founder and CEO of web security company ImmuniWeb, says: “We can expect further commoditisation of the global cyber crime industry. Unlike lavish cyber security start-ups, which can usually “repair” any mistakes or omissions with a next funding round, cyber criminals think rationally and plan effectively.”

He says they cunningly implement machine learning and cloud to accelerate diverse hacking tasks, and also outsource some of their activities to other gangs to cut their costs, increase profits and add a supplementary smokescreen for understaffed and underpaid law enforcement agencies.

“Mushrooming crypto-currencies will soon make sophisticated crimes technically impossible to investigate. Given the modest financial opportunities available to bug bounty hunters compared to unscrupulous cyber mercenaries, we will likely see further proliferation of skilled and sophisticated cyber gangs capable of making entire countries tremble.” Read Full Article

Book a Call Ask a Question
Talk to ImmuniWeb Experts
Have a technical question?

Our security experts will answer within
one business day. No obligations.

Have a sales question?
Tel: +41 22 560 6800 (Switzerland)
Tel: +1 720 605 9147 (USA)
Your data will stay private and confidential