Monday, April 30, 2012

Russian Hackers Made $4.5 Billion in Cyber Crime

Russians are hacking into computers and cell phones to make millions!

Few nationalities are as good at making money from hacking than the Russians. Their share of the global cyber crime market, an estimated $12.5 billion black market, doubled last year to $4.5 billion, according to Moscow-based Group-IB, a cyber security services firm working mainly with the Russian government and banks to help reduce online fraud.

Earlier this year, Facebook blew the cover off the malware gang Koobface. All five of their members were Russians from St. Petersburg. Eugene Kapersky, the CEO of software security firm Kaspersky Lab, also based in Moscow, said that the Koobface gang had become millionaires thanks to their hacking skills. “The cybercrime market originating from Russia costs the global economy billions of dollars every year,” said Ilya Sachkov, Group-IB’s CEO. 
“Although the Russian government has taken some very positive steps, we think it needs to go further by changing existing law enforcement practices, establishing proper international cooperation and ultimately improving the number of solved computer crimes.”
The word “hacking” can cause tempers to flare up to 120 degrees or more among hard core computer geeks. Not all hacking is intolerable, or illegal. But a lot of it is, and the Russian computer geniuses walk the red carpet within the international hacker community.

Refer here to read the full news.

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