Cyber crime: following the money

(Image: Stockfresh)

21 September 2018

It has been predicted that as hackers follow the easiest money-making opportunities, they will become increasingly professionalised.

Attackers will become bolder, more commercial and less traceable, according to Andy Taylor, lead assessor, APM Group International.

Hackers will look to become more organised and more commercialised, perhaps even having their own call centres, said Taylor, something already seen with fraudulent dating sites.

“They will look to base themselves in countries where cyber crime is barely regarded as a crime and thereby placing themselves outside their victims’ police jurisdictions.”

There are also expectations that highest levels of activity will attract the highest level of blackhat interest, and there are few areas seeing more activity than cloud computing.

As more companies migrate to public cloud, according to Shira Shamban, security researcher and technical expert, Dome9 Security, hackers will follow.

Databases and source code are much more profitable than stealing individual credit card numbers, argues Shamban. Valuable that now is stored in cloud environments, where attackers know that security is still in flux, make corporate cloud environments attractive targets.

The hackers that create the markets of tomorrow are already making a lot of money from newer vulnerabilities, said Raef Meeuwisse, author, consultant and speaker on cyber security. The latest vulnerabilities often require more than basic cyber hygiene steps to defend against and because all of the vulnerabilities above are known, they are no longer considered to be zero day threats.

At the ICT Skillnet Cyber Security Conference, Detective Supt Michael P Gubbins, head of the Garda National Cyber Crime Bureau, will present on the topic of “Criminals Follow the Opportunities – Big or Small”, describing how the criminals, large or small will target the easiest and most lucrative opportunities, big or small. Drawing on a wealth of law enforcement data and insights, Detective Supt Gubbins will give real examples as well as real world advice on how to protect against these risks.

According to estimates, less than 5% of cyber crime is reported in Ireland. “Ransomware is rampant but people don’t report cyber attacks,” said Detective Superintendent. With one third of Irish and Northern Irish businesses suffering a data security breach in 2017, the threat to every business is significant and immediate.

To give a wider view of the threat landscape, international expert Brian Honan will address the current state of the industry and suggest ways in which a broad-based skills initiative can help in reducing the impact of cyber crime.

Taking place in the IMI, Dublin on 3 October is a free event, with presentations, workshops and discussion panels. It is a free event, but registration is required.


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