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September 10, 2015

Cybercriminals Live Like Kings and Want Your Money

Cybercriminals Live Like Kings and Want Your Money!Cybercriminals are among the biggest threats to enterprises today. The Internet has made valuable information more tantalizingly accessible than ever before, and cybercrime is not yet consistently policed. The nature of the World Wide Web allows international cyber gangs thousands of miles away to attack domestic enterprises at their own leisure with little fear of repercussions. In a webinar entitled "Get Inside the Minds of Cyber Gangs," Phil Neray, vice president of enterprise security at Veracode, examines the motivations of cybercriminals, the ways they operate and how to thwart them.

Free Money

The main motivation for cybercriminals is the idea that they are chasing free money. Hacking enterprises overseas carries virtually no threat of legal action while offering tempting payoffs for successful attackers. Enterprises' networks are loaded with sensitive information, from bank accounts and credit card numbers to employees' Social Security numbers and other personal data. The black market for credit card information and Social Security numbers is extremely active, so the payoff of hacking into a credit card database such as Target's is enormous. The infamous "Operation Get Rich or Die Trying" hacking scheme — the "largest hacking case ever prosecuted" — went so far as to build new credit cards using stolen numbers. The cards featured fully functional magnetic strips, Neray explains in the video, and were the cash-cow product of a highly advanced and elaborate cyber gang operation.

No Fear

Cyber gangs aren't exactly like bank robbers. Instead of requiring bravado and proximity to physical currency, cybercriminals are free to sit in their homes or offices and run SQL injections and other penetration-based attacks on a massive array of businesses at any given time. Unless they get caught and tracked down in a country that has active policing of the Internet, cyber gangs have relatively little fear of being indicted — which makes this life of crime much more appealing than pre-Internet robbery schemes. And the potential payoff is often larger than robbing even Fort Knox.

Catch Me if You Can

In the webinar, Phil Neray paints a picture of cyber gangs as ingenious wealth seekers exploiting loopholes in everyday enterprise software. Albert Gonzales, the so-called ringleader of "Get Rich or Die Trying," was arrested with over $1.2 million in cash at his Miami Beach apartment. The software complexities of hacking are numerous and varied, but the motivations are similar. Understanding who is attacking you and why is an overlooked part of the holistic cybersecurity equation. The best software security solutions don't just build detection devices for common hacking methods; rather, they get inside the minds of cyber gangs to understand where they might look next.

Behind-the-scenes stories of recent hacks and the gangs behind them tell stranger-than-fiction stories that surpass even the greatest movies about con men. Neray's presentation is informative and entertaining — especially if you like scary movies — and contains important information about protecting your enterprise from the massive army of international cyber gangs looking to make a quick buck off of your business. Be sure to download the full webinar for more information about cyber gangs and to learn how to thwart their malicious efforts.

Photo Source: morgueFile

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John is a B2B and SaaS expert who likes to explain complex concepts using cute animals and cocktail napkins. He believes that content marketing is the future and sometimes ghost writes, but he can never prove it.

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