Hyper-Connected Web of Profit Emerges, As Global Cybercriminal Revenues Hit $1.5 Trillion Annually

Ground-breaking study, commissioned by Bromium, highlights emergence of Platform Criminality, exposing cybercriminal links to drug production, human trafficking and terrorism

 

CUPERTINO, Calif., April 20, 2018 (GLOBE NEWSWIRE) -- Bromium®, Inc., the pioneer and leader in virtualization-based endpoint security that stops advanced malware attacks via application isolation, today announced the findings of an independent study that looked into the interconnected dynamics of cybercrime, and examines how new criminality platforms and a booming cybercrime economy have resulted in $1.5 trillion in illicit profits being acquired, laundered, spent and reinvested by cybercriminals. Complete findings will be presented at the RSA Conference in San Francisco by researcher Dr. Michael McGuire, Senior Lecturer in Criminology at the University of Surrey in England.

This is one of the first studies to view the dynamics of cybercrime through the lens of revenue flow and profit distribution, and not solely on the well-understood mechanisms of cybercrime. The new research exposes a cybercrime-based economy and the professionalization of cybercrime. This economy has become a self-sustaining system - an interconnected Web of Profit that blurs the lines between the legitimate and illegitimate.

The research points to an emergence of platform criminality, mirroring the platform capitalism model currently used by companies like Uber and Amazon, where data is the commodity. The report also raises concerns about new criminality models that these platforms enable, which fund broader criminal activities such as human trafficking; drug production and distribution; and even terrorism.

"The findings of Dr. McGuire's research provide shocking insight into just how widespread and profitable cybercrime has become," commented Gregory Webb, CEO of Bromium. "The platform criminality model is productizing malware and making cybercrime as easy as shopping online. Not only is it easy to access cybercriminal tools, services and expertise: it means enterprises and governments alike are going to see more sophisticated, costly and disruptive attacks as The Web of Profit continues to gain momentum. We can't solve this problem using old thinking or outmoded technology. It's time for new approaches."