Collaborative Fraud Networks on the Rise


Cyber criminals must adapt their collection methods to remain undetected, and it seems they’re linking together to make this happen.

The latest Symantec Internet Security Threat Report found the underground networks and servers used to sell stolen data are becoming increasingly collaborative. During the last half of 2006, the number of computers infected by malicious bots grew by 29% to 6 million, while the number of servers relaying commands to these bots actually fell by 25%. The majority (51%) of all identified underground servers are in the U.S.

Hackers are going after particular pieces of confidential information, such as birthdates and Social Security, credit card and bank account numbers, which together form an identity. Symantec reported the rising number of Trojans and bot networks, which allow hackers to remotely access computers, caused a 48% increase in threats to this confidential information. In the underground economy, complete identities are worth $14 to $18, whereas individual credit card numbers only fetch $1 to $6.

Source: www.symantec.com/threatreport.

SPONSORED REPORT

Why cybercriminals are targeting CPAs

This free report expands on the most commonly found scams, why education and specialized IT knowledge help to lessen security vulnerabilities, and why every firm should plan carefully for how it would respond to a breach.

PODCAST

How tax reform — and Excel — are changing the CPA Exam

Mike Decker, the vice president of examinations at the AICPA, discusses changes being made to the exam as a result of tax reform — and about how Excel will now be available for use on the test.