Cybercrime spikes when economy tanks




There is a $200 billion global industry that's booming, despite the financial markets meltdown: cybercrime. Check out PandaLabs correlation of stock market indices:

Then look at this graph showing new malicious infections cyber criminals are releasing daily across the Internet.

Perhaps it may be a little tough to see here, but without fail, each time the Dow Jones Industrial Average, NASDAQ, S&P 500 and Composite Index craters, malicious threats spike!
For example, when the market indices dropped 0.5 percent to 5.5 percent from Sept. 14 to Sept. 16, daily threats nearly tripled -- zooming from 8,276 on the 14th to 31,404 on the 16th. “Based on our extensive research and analysis of emerging malware patterns, we believe that criminal organizations are closely watching market performance and adapting as needed to ensure maximum profit,” Ryan Sherstobitoff, chief corporate evangelist for Panda Security, told me.
Because cyber criminals have fewer possible targets as a result of consolidation within the banking industry, they're intensifying their attacks, he says. Clearly economic instability spells opportunity for the cyber crime industry. Tech security company's are reporting a surge in scams that try to lure you into buying fake antivirus software -- swiping your payment, and your credit card account number. “Our data also shows that these fake antivirus campaigns are generating over $14 million in profit each month for the underground economy,” says Sherstobitoff.
By Byron AcohidoPhoto: PandaLabs



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