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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

Michael Hatamoto | May 1, 2014 at 5:41 pm CDT (0 mins, 43 secs time to read)

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.

Cybercriminals raking in big profits from their illegal activities | TweakTown.com

"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.

Last updated: Apr 7, 2020 at 11:44 am CDT

Michael Hatamoto

ABOUT THE AUTHOR - Michael Hatamoto

An experienced tech journalist and marketing specialist, Michael joins TweakTown looking to cover everything from consumer electronics to enterprise cloud technology. A former Staff Writer at DailyTech, Michael is now the West Coast News Editor and will contribute news stories on a daily basis. In addition to contributing here, Michael also runs his own tech blog, AlamedaTech.com, while he looks to remain busy in the tech world.

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