June 9, 2014

20 to 30 cybercrime groups operating on a ‘nation-state level’

Hackers are holding the world to ransom: Cyber attacks cost the global economy more than £328 billion a year, claims report

Failing to protect yourself online is so irresponsible, it could threaten the economy of entire nations.
That's according to a security report by California-based group, McAfee, which suggests cybercrime is now such big business, it is worth more than the wealth of some countries.
As a business, cybercrime would be ranked 27th in the world based on revenue, and the attacks are currently costing the world more than £328 billion ($400 billion) a year.
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They claim the big problem remains a lack of understanding among the public about different threats that exist.
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As part of the report, Samani revealed there are 20 to 30 cybercrime groups that are operating on a ‘nation-state level’.
This means they are working on an industrial scale, and overcome almost any sort of web defence they face.
‘We want the economy to grow, and it’s being held back by cybercrime.
‘If you’re not taking important measures you’re contributing to criminals, and I mean nasty criminals, making money off you. Not taking action is resulting in people losing their jobs,’ he said.
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The report found that more than 200,000 jobs had been lost as a result of cybercrime - through reputation damage or loss of assets.
The news comes in the wake of continued efforts to improve web security before the ‘two-week threat’ elapses, and two viruses that have infected thousands of computers are active again.
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The U.S. Department of Homeland Security urged users to install anti-virus software on their computer and ensure that the latest operating systems were also installed on their computers.
If systems do not offer automatic updates, people should enable it, the department said.
It also advised changing passwords, as original passwords may have been compromised during the infection.
Posted by Jill Fallon at June 9, 2014 9:32 PM | Permalink