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Cybercrime is Now Big Business

28/05/2015 by Sharon Shahzad


Cyber-attacks, no longer the actions of a few rogue individuals, are now big business. It’s a growth industry crying out for serious countermeasures

If you think the recent massive cyber-attacks on Github, Sony, Target and other large organizations were committed by lone hackers working from their bedrooms, it’s time to update your thinking.

Cybercrime is a big business. Exactly how big is anybody’s guess, but it’s now a huge underground economy, essentially a shadow version of our legal economy.

Organized criminals, foreign governments and online gangs are all involved. Online forums now exist that essentially provide marketplaces where the bad guys can easily buy and sell not only stolen data — including credit-card numbers and CVV codes, social security numbers, even mothers’ maiden names — but also related services.

Need someone to launder your money in Munich, translate your spyware into Korean, or sell stolen data for you in Bangalore? These kinds of criminal services, and many others, are just a click away on this ‘dark’ web of online criminal communities. Some sites even offer educational materials to help criminals learn new, if illegal skills.

“In the past, cybercrime was committed mainly by individuals or small groups,” states the cybercrime site of Interpol, the international criminal policing organization. “Today, we are seeing criminal organizations working with criminally minded technology professionals to commit cybercrime, often to fund other illegal activities. Highly complex, these cybercriminal networks bring together individuals from across the globe in real time to commit crimes on an unprecedented scale.”

Interpol has identified three broad areas of cyber-attack: hardware/software attacks, including bots and malware; financial crime, including online fraud and phishing; and abuse, which includes sexploitation and crimes against children. All are now in the hands of organized cybercrime.

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Montash is a multi-award winning global technology recruitment business. Specialising in permanent and contract positions across mid-senior appointments across a wide range of industry sectors and IT functions, including:

ERP Recruitment, BI & Data Recruitment, Information Security Recruitment, Enterprise Architecture & Strategy Recruitment , Energy Technology Recruitment, Demand IT and Business Engagement Recruitment, Digital and E-commerce Recruitment, Leadership Talent, Infrastructure and Service Delivery Recruitment, Project and Programme Delivery Recruitment.

Montash is headquartered in Old Street, London, in the heart of the technology hub. Montash has completed assignments in over 30 countries and has appointed technical professionals from board level to senior and mid management in permanent and contract roles.

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