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Cybercriminals raking in big profits from their illegal activities

Cybercriminals are finding new attack methods that are rather sophisticated and provide an easier method to compromise users
| Hacking & Security News | Posted: May 1, 2014 10:41 pm

The cybercrime ecosystem is continually evolving from simply public vandalism, with hackers largely interested in compromising users for monetary gain. There also is a growing underground market designed for criminals to sell, share, and trade attack methods, stolen information, and knowledge.

 

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"When big guys get arrested they are usually found to be living lives of luxury," said Stefan Tanase, Kaspersky Lab Global Research and Analytics senior security researcher, in a statement to ITWeb. "It's a lucrative endeavor for many. There are two ways to make money, either by stealing money directly from the user such as credit card details or banking logins, or using the user's resources - computer, connection or similar - to provide services to other cybercriminals."

 

California Attorney General Kamala Harris noted that cybercrime is a real threat that the government and private sector companies must be better prepared to address.

NEWS SOURCES:Itweb.co.za, Northeastern.edu

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