When it comes to information sharing, the cyber crime community in Russia is way ahead of the game.
According to a report (pdf) released Tuesday by Russian security firm Group-IB, the value of the country's cyber crime market is now $US2.3 billion, nearly doubling last year's $US1.2 billion total.
The report credited the cash cow with the increasing organisation and professionalisation of the shady underground, a shift ushered in by the arrival of traditional mob groups.
They are combining their skills to form a more centralised structure, and are sharing stolen data and access to botnets.
"This trend leads to the merging of the two criminal worlds with the subsequent resource allocation from the mafia's traditional areas of control (prostitution, drugs and arms trafficking, and so on) in favour of cyber crime," the report said.
"With the imperfections in the existing laws, this has the threat of [leading to an] explosive increase of attacks on the financial sector."
Online fraud, chiefly accomplished through the spread of banking malware, and spam combined to make up roughly $US1.8 billion of the cyber crime market, the report said.
In addition, the number of distributed denial-of-service (DDoS) attacks grew in 2011 compared to previous years.
This article originally appeared at scmagazineus.com
Copyright © SC Magazine, US edition
Issue: 328 | June 2014
Access CRN's extensive online resources including; email bulletins, community discussions and unique online news.
Processing registration... Please wait.
This process can take up to a minute to complete.
A confirmation email has been sent to your email address - SUPPLIED GOES EMAIL HERE. Please click on the link in the email to verify your email address. You need to verify your email before you can log on to the CRN website or start posting comments on articles.
If you do not receive your confirmation email within the next few minutes, it may be because the email has been captured by a junk mail filter. Please ensure you add the domain '@crn.com.au' to your white-listed senders.