“Thales Unveils Latest Insights on Cybercrime Threats in New ‘CyberThreat Handbook: Organized Cybercrime Edition'”
For the 2020 edition of Les Assises de la Sécurité, Thales unveils the latest version of its CyberThreat Handbook, this year focusing on cybercriminals. Thales’ specialists reveal their evaluations and insights regarding cybercrime, a perilous ecosystem populated by numerous hacker collectives. Interactions and constant movements unify organized cybercrime and bring it into existence. Lacking defenses or proactive measures, cybercriminals’ attacks will invariably cause increasing harm. To combat their perpetually evolving tactics, gaining a deeper comprehension of the threat is essential; cutting-edge tools and services like Threat Intelligence are invaluable for anticipating this menace as effectively as possible.
By functioning as a network of cybercriminal factions, cybercriminals are able to operate with greater efficiency: each faction specializes in a specific domain, and the various groups collaborate to leverage each other’s knowledge. This specialization enhances the effectiveness of cybercriminals, enabling them to focus on a distinct form of attack while capitalizing on expertise within the network.
Leading this network are various factions of the most technically skilled cyber attackers, utilizing highly advanced compromise strategies and substantial financial assets. These are the “Big Game Hunters,” whose tactics, techniques, and procedures (TTPs) and technical frameworks closely resemble those of certain state-sponsored hacking entities. They target specific organizations, including political institutions and major corporations, employing ransomware to extort significant sums.
To attain their goals, cybercriminals employ a mix of technical proficiency and the chaos they instill in enterprises and institutions. Such panic can have disastrous effects in terms of the aftermath of an attack. It is crucial not to yield to threats or extortion. The targets of cybercriminals are incredibly varied and opportunistic; any organization can be affected. Thales’ specialists strongly advise keeping in mind that anyone can become a target to ensure preparedness and to develop a clear and comprehensive cyber crisis management strategy.
Interestingly, 60% of these massive revenues originate from illicit online marketplaces, 30% from the theft of intellectual property and trade secrets, and a mere 0.07% from ransomware, which, however, inflicts the most damage. With estimates suggesting revenues could reach up to $1.5 trillion annually – representing 1.5 times more income (on average per year) than counterfeiting, and 2.8 times more than the illegal drug trade – this network constitutes a complete economic system that poses a significant threat to any company or organization, with far-reaching repercussions on the global economy.
