The Making of a Cybercrime Market

Image source:  imsmartin

Image source: imsmartin

How two underground entities surfaced, battled, aligned, and ultimately extracted billions from some of the world’s largest financial institutions via unsuspecting, everyday banking client victims. At this year’s Black Hat conference, I had the opportunity to speak with two representatives from the Netherlands-based security research firm Fox-IT—Maurits Lucas, InTELL Business Director, and Andy Chandler, VP of WW Sales & Marketing. Collectively, the two shared an in-depth story of cybergang warfare suitable for Hollywood.

As the events unfolded through their words, I quickly began to see into the business minds of the cybercriminals they described.

Is your bank part of this underground market?

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