The Business of Organized Cybercrime: Rising Intergang Collaboration in 2018
Banking
Trojans and the gangs that operate them continue to plague banks, individuals
and organizations with fraudulent transactions facilitated by malware and
social engineering schemes. At last check, cybercrime cost the global economy
more than $600 billion in 2017 , and forecasts for 2018 predicted $1.5 trillion
in losses.
No
matter how you turn these numbers, they are a burden that keeps growing and
encouraging a rife, complex industry of online crime.
Going
Behind the Numbers of the ‘IBM X-Force Threat Intelligence Index’
Every
year, increasingly organized cybercrime gangs shuffle their tactics, techniques
and procedures (TTPs) to evade security controls on the micro level and law
enforcement on the macro level. Behind each malware named on the top 10 chart
below, codes are distributed and operated differently and focus on different
parts of the globe. The chart is populated by organized cybercrime gangs that
have ties to yet other cybercrime gangs, each doing its part to feed the
perpetual supply chain of a digital financial crime economy.
In
cybercrime, it can be said that the more things change, the more things stay
the same. In 2018, however, I must admit I was finally surprised when two
malware gangs that did not appear connected at first began openly
collaborating. It thus became clearer than ever that the banking Trojan arena
is dominated by groups from the same part of the world, by people who know each
other and collaborate to orchestrate high-volume wire fraud.
To
learn more about the malware that shaped 2018, let’s begin by looking at the
top constituents of the gang-owned Trojan chart and drill down on information
gathered by IBM Security for the top three.
To get the stats and continue reading, please click here.
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