Collaborate Disseminate
We are following the money to see what happens to the proceeds from cybercrime. This research shows cybercriminals are money laundering through both familiar and unfamiliar channels. Reserve your copy of the full report: Into the Web of Profit In April… Continue reading Cybercriminals Use Bitcoin as One Method of Laundering Money | Part 1
Cybercrime and espionage have caused over $600 billion worth of damages annually in recent years, according to new estimates from the Washington D.C. think tank Center for Strategic and International Studies (CSIS) and American cybersecurity firm McAfee. “When we talk about impact of cybercrime, really it’s an economic impact with significant ramifications toward things like jobs, opportunity, investment, innovation,” said Raj Samani, McAfee’s chief scientist. “The objective is to change the discussion from this-country-does-that to how cybercrime impacts all of us, why it matters and how to address it.” The total cost is rising. A 2014 estimate from CSIS put the annual cost of hacking at around $500 billion. Increasingly sophisticated hackers, quick adoption of new technology as well as the growing professionalization of cybercrime has made being a profitable crook online easier than it’s ever been. Even so, cybercrime ranks behind government corruption and narcotics trafficking for annual cost to the world, according […]
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A group of Chinese hackers recently indicted by the Department of Justice were involved in an international cyber espionage operation connected to a foreign intelligence agency, security researchers tell CyberScoop. On Monday, senior Justice Department officials announced eight relevant criminal charges against the Chinese hackers. Although the indictment was originally issued in September, it was sealed until Monday. The criminal activity allegedly dates as far back as 2011. Court documents describe that Chinese nationals Wu Yingzhuo, Dong Hao and Xia Lei hacked into and stole data from several American companies, including Siemens AG, Moody’s Analytics and GPS technology company Trimble. The trio worked together at a company named Boyusec, also known as the Guangzhou Bo Yu Information Technology Co. Business registration records show that Wu and Dong are executives at Boyusec. Conservative news outlet The Washington Free Beacon reported in November 2016 that Boyusec, which it described as a Chinese cybersecurity firm, […]
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A group of hackers has been sending specially tailored phishing emails to online banking customers, stoking fears among an online population that is increasingly concerned with how cybercriminals could leverage the data stolen from credit monitoring giant Equifax. This specific phishing campaign, identified by U.S. technology firm Barracuda Networks, focuses on a string of recent banking-related emails that began to hit inboxes shortly after Equifax was originally breached, but several weeks before the incident was first publicly disclosed Sept. 7. The campaign remains active. Although the scheme’s timing has caught researchers’ attention, it remains unclear whether the criminal operation was directly related to the Equifax breach. Security experts have warned that the Equifax breach could lead to fraudulent credit card charges for affected individuals. As a result, it’s no surprise that hackers are actively attempting to impersonate legitimate banking companies as they communicate with clients about suspicious account activity. Barracuda […]
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A Ukraine citizen will spend close to four years in prison for administering a fraud forum in addition to perpetrating other computer criminal activities. As reported by Brian Krebs, 29-year-old Sergey Vovnenko received a sentence of 41 months in prison on 16 February for wire fraud conspiracy and aggravated identity theft. The Ukrainian, who is […]… Read More
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