Last spring, we contracted with an academic researcher who specialized in criminality from the University of Sussex. We asked him to go out and find out where the money goes that’s earned by cybercriminals. He returned nearly a year later with information that will help all of us interested in disrupting cybercrime – regardless of our role in the ecosystem.
Live webinar with Dr. McGuire
This is one of the first studies to view the dynamics of cybercrime through the lens of revenue flow and profit distribution, and not solely on the well-understood mechanisms of cybercrime. The new research exposes a cybercrime-based economy and the professionalization of cybercrime. This economy has become a self-sustaining system – an interconnected Web of Profit that blurs the lines between the legitimate and illegitimate.
The platform criminality model is productizing malware and making cybercrime as easy as shopping online. Not only is it easy to access cybercriminal tools, services and expertise: it means enterprises and governments alike are going to see more sophisticated, costly and disruptive attacks as The Web of Profit continues to gain momentum. We can’t solve this problem using old thinking or outmoded technology. Security like detect-to-protect isn’t working.
“This new cybercrime economy has created new digital businesses, making it even easier to conduct cyberattacks,” said Gregory Webb, CEO of Bromium. “The walls between the criminal and legitimate worlds are blurring, and we are no longer simply dealing with ‘hackers in hoodies.’ We have to understand and tackle the underlying economic ecosystem that enables, funds and supports criminal activity on a global scale to stem the tide and better protect ourselves. By better understanding the systems that support cybercrime, the security community can better understand how to disrupt and stop them.”
The Into the Web of Profit report is available to download here.