Tag Archives: cybercrime

Jamaica lost US$100m to cybercrime in 2016 — Govt

KINGSTON, Jamaica (JIS) — Senior Advisor in the Ministry of Science, Energy and Technology, Trevor Forrest, is urging increased vigilance against cybercrime, as everyone is at risk.

He noted that last year, the country lost US$100 million due to cyber criminal activity, and a report for this year has indicated that more than 230,000 threats were detected in the space of a month.

“You cannot get rid of the threats that we are facing, but you can only put measures in place to mitigate,” he said.

“So individuals need to understand that this is not something that just Government must do. Everybody has a responsibility to protect themselves and their businesses from these kinds of attacks, as everyone is affected by this,” he added.

Forrest said people who use automated teller machines (ATMs), pay bills or shop online, use WhatsApp or Twitter on their phone are at risk and must be sensitised about good

Read more at: http://www.jamaicaobserver.com/latestnews/Jamaica_lost_US$100m_to_cybercrime_in_2016__Govt_?profile=1228

Everyone at Risk for CyberCrime

Photo: Rudranath Fraser
Senior Advisor in the Ministry of Science, Energy and Technology, Trevor Forrest, addresses a Think Tank at the Jamaica Information Service (JIS) head office in Kingston recently. At left is Head of the Cyber Incident Response Team (CIRT), Dr. Moniphia Hewling.

Story Highlights

  • Senior Advisor in the Ministry of Science, Energy and Technology, Trevor Forrest, is urging increased vigilance against cybercrime, as everyone is at risk.
  • Mr. Forrest said persons who use automated teller machines (ATMs), pay bills or shop online, use WhatsApp or Twitter on their

    Read more at: http://jis.gov.jm/everyone-risk-cybercrime/

Europol: Legislation overhaul needed as cybercrime is ‘unprecedented’

​Europol’s European Cybercrime Centre (EC3) has released the findings from its 2017 Internet Organised Crime Threat Assessment (IOCTA).

The EU law enforcement agency says this year’s report delves into how cybercrime continues to grow and evolve while taking new forms and directions, as demonstrated in some of the attacks of unprecedented scale of late 2016 and mid-2017.

It further highlights the progressive convergence of cyber and serious and organised crime, supported by a professional underground service economy.

In light of these unprecedented and constantly growing levels of cybercrime, Europol has called for an overhaul of legislations to assist them in tackling cybercrime.

Ransomware attacks, like WannaCry and Petya, have eclipsed almost all other forms of cyber threat, while the dark web still remains as a major enabler of a range of serious crimes – this includes the supply of drugs, weapons and fraudulent documents used to facilitate human trafficking and illegal immigration.

“The global impact

Read more at: https://securitybrief.eu/story/europol-legislation-overhaul-needed-cybercrime-unprecedented/

Ransomware surges again, as cybercrime-as-a-service becomes mainstream for crooks

ghost-hands-hacker-laptop.jpg

Organised criminal gangs are increasingly using the dark web to aid their nefarious activities.


Image: iStock

Purchasing cybercrime-as-a-service tools for threats such as malware and DDoS is no longer just something for low level or aspiring hackers. Organised criminal gangs are taking advantage of these services as the underground criminal landscape

Read more at: http://www.zdnet.com/article/ransomware-surges-again-as-cyber-crime-as-a-service-becomes-mainstream-for-crooks/

Global Cost of Cybercrime Soars 23% in a Year

The global cost of cybercrime has rocketed by 23% over the past year to reach $11.7m per business, according to the latest report from Accenture.

The consulting giant commissioned the Ponemon Institute to poll over 2100 global organizations to compile its Cost of Cyber Crime Study, and found cybercrime showing no signs of slowing.

Financial services ($18m) and energy ($17m) suffered the worst losses, and US firms ($21m) incurred the highest average cost of any country, while Australia reported the lowest ($5m) and the UK had the lowest change from last year: from $7m to $8.7m.

The stats also revealed that firms on average suffered 130 ‘breaches’ – network or system infiltrations – annually, a 27% increase on the 2016 report findings.

Malicious insiders caused the most havoc, with related incidents taking on average 50 days to resolve, while ransomware attacks take over 23 days.

However, malware ($2.4m) and web attacks ($2m) are the

Read more at: https://www.infosecurity-magazine.com/news/global-cost-of-cybercrime-soars-23/

Interpol: Dark web hacking tools are fuelling cybercrime

Hacking tools made readily available through dark web markets are making cyber crime as a service increasingly popular, according to Interpol’s head of cyber strategy.

Cyber security professionals have warned of an increasing number of malware authors and hackers who, rather than attacking victims themselves, are instead acting as cyber arms dealers, selling toolkits that can be used by anyone to launch cyber attacks on targets. 

Because this allows even non-technical users to mount attacks, researchers have noticed a marked rise in the number of cyber attacks being carried out, Christophe Durand told IT Pro. “Definitively, we have a proliferation of attacks thanks to the availability of tools,” he said.

“It’s so easy, especially for basic attacks. It’s so easy to find tools, to find RATs, to find everything you need. I’m a father – I’m sometimes afraid of what my children could do if they came across these kind of tools.”

While these

Read more at: http://www.itpro.co.uk/security/29391/interpol-dark-web-hacking-tools-are-fuelling-cybercrime

cybercrime: Palo Alto Networks, IGCI sign pact to tackle cyber crime

MUMBAI: Security company Palo Alto Networks today announced that it is formalising its cooperation with the Interpol Global Complex for Innovation (IGCI).

This agreement aims to combat criminal trends in cyberspace, cyberthreats and cybercrime globally through sharing threat information generated by Palo Alto Networks and Unit 42, its threat intelligence team, the company said in a statement.

Palo Alto Networks will be involved in the operational briefings at IGCI and vice versa.

“Cybercrime represents a significant amount of risk for businesses and organisations today. This collaboration marks a mutual commitment to information sharing, which is necessary in preventing successful cyberattacks,” said Sean Duca, vice president and regional chief security officer for Asia-Pacific, Palo Alto Networks.

A threat intelligence expert from Unit 42 will be assigned to collaborate with the IGCI, helping provide a clearer understanding of

Read more at: http://economictimes.indiatimes.com/tech/internet/palo-alto-networks-igci-sign-pact-to-tackle-cyber-crime/articleshow/59953389.cms

US vs hackers: America’s crusade against cybercrime

The US government is pulling no punches when it comes to prosecuting cyber criminals, often seeking extradition orders and, in most cases, dedicating countless man hours and hundreds of thousands of dollars relentlessly pursuing some of the world’s most notorious hackers.

Its latest catch, though, is a reputed white hat hacker — that is, a ‘good’ security expert whose hacking bears no ill intent. He helped stop a global cyberattack in its tracks, potentially saving the global economy millions of dollars in the process – and is now charged in a separate malware-related case.

Read more about him and others in RT’s list of some of the most notable hackers the US has pursued and attempted to extradite since 2000, with varying degrees of success.

Marcus Hutchins aka ‘MalwareTech’ (2017)

Marcus Hutchins, 23, the young British cybersecurity expert who discovered the kill switch that stopped the global WannaCry ransomware attack,

Read more at: https://www.rt.com/usa/398763-us-hackers-extradition-cyber-crime/

Wanted in the Netherlands: judges who understand cybercrime

Photo: Depositphotos.com

The Dutch legal system needs separate courts to deal with cyber crime because of the complexity of such cases and level of expertise judges have to have, the president and senior judge of The Hague’s appeal court say in Thursday’s Volkskrant.

The expertise among today’s court officials and judges is lagging behind that of the cyber criminals themselves, Christiaan Baardman and Leendert Verheij say. Malware, ransomware and botnets are all particularly complex issues and in constant development.

Baardman, who coordinates a special cyber crime expertise centre in The Hague, says extra training for judges does not go far enough. ‘A murder is still a murder but cyber crime is continually innovating,’ the paper quotes Baardman as saying in legal magazine Mr.

The Netherlands has a major role in cyber crime and its prevention due to its good internet

Read more at: http://www.dutchnews.nl/news/archives/2017/08/wanted-in-the-netherlands-judges-who-understand-cybercrime/

Wanted in the Netherlands: judges who understand cybercrime …

Photo: Depositphotos.com

The Dutch legal system needs separate courts to deal with cyber crime because of the complexity of such cases and level of expertise judges have to have, the president and senior judge of The Hague’s appeal court say in Thursday’s Volkskrant.

The expertise among today’s court officials and judges is lagging behind that of the cyber criminals themselves, Christiaan Baardman and Leendert Verheij say. Malware, ransomware and botnets are all particularly complex issues and in constant development.

Baardman, who coordinates a special cyber crime expertise centre in The Hague, says extra training for judges does not go far enough. ‘A murder is still a murder but cyber crime is continually innovating,’ the paper quotes Baardman as saying in legal magazine Mr.

The Netherlands has a major role in cyber crime and its prevention due to its good internet

Read more at: http://www.dutchnews.nl/news/archives/2017/08/wanted-in-the-netherlands-judges-who-understand-cybercrime/