Group-IB: Russia's cybercrime market reaches $1.9 billion

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Sep 10, 2013, 07:00 ET

MOSCOW, Sept. 10, 2013 /PRNewswire/ -- Group-IB has presented its annual research entitled "Market of high-tech crimes: status and trends of 2013". The presentation, which has become a tradition, was held today at the press center of news agency RIA Novosti. According to the company's estimates, cybercrimes reached $1.9 billion in volume.

"This Group-IB report, centered on empirical evidence gathered on Russian cyber crime, shows a global rise in cyber criminals using an array of methodologies to attack end user's online banking services," states Dan Clements, US Managing Partner. "The report also shows that these types of attacks are carried out by cyber gangs, some of which have been dismantled and some arrests have taken place."

"The report also shows that global cyber laws are still somewhat ambiguous and that that governments vary on cyber crime punishments. These issues provide a challenge for law enforcement and the financial sectors to work more closely in a transparent cross border effort to apprehend cyber criminals."

It should be noted that the company postponed the release of this research for six months in order to enrich it with the most current data from its database. The following experts presented the research at the event:

— Ilya Sachkov, CEO, Group-IB.

— Dmitry Volkov, Head of Information Security Incidents Investigation Division.

— Nikita Kislitsin, Head of Organizational & Strategic Development, Botnet monitoring service.

These company executives presented detailed description of new threats to financial institutions and their customers. They also showed the sad consequences of fraudulent mechanisms applied to specific cases, gave an expert assessment of the market size, and revealed the results of investigations into computer incidents involving major criminal groups.

"Our company's work relies on the unique experience and systematized knowledge and skills accumulated by our experts over the years of our activities. This report is an evidence to that, depicting the most current, in our view, picture of the criminal segment of the Internet and describing in details the new tools used by attackers. We want to use real numbers to draw attention to the cybercrime problem, which continues to grow and cause damage to various sectors of the economy of Russia and other countries," - Ilya Sachkov, founder and CEO of Group-IB, commented in his publication.

The report and its main points can be downloaded or viewed at the official page of the research: http://report2013.group-ib.com

About Group-IB

Group-IB – one of the leading companies in fraud prevention, cybercrime and hi-tech crime investigations.

Key activities of our company: Cyber Intelligence and Threat Prevention,Information Security, Assessment and Vulnerability Research,Computer Forensics,Cybercrime and Hi-Tech crimes investigations,Innovative software products development for monitoring, detection and prevention of emerging cyberthreats.

In the technologies field, it is imperative that our team members are on the cutting edge. That is why our employees have earned several certificates: CISSP (Certified Information Systems Security Specialist), CISA (Certified Information Systems Analyst), CEH (Certified Ethical Hacker), Extreme Networks Administrator, A+ Certification, Net+, MCP (Microsoft Certified Professional), and MCSA (Microsoft Certified Systems Administrator).

We have more than 90 employees serving customers in more than 25 countries. Our clients include various banks, financial institutions, oil and gas companies, software and hardware vendors, telecommunications service providers from Australia, Argentina, Brazil, Canada, EU, Russian Federation, UK, USA and Ecuador.

For further information contact:

Dan Clements
Group-IB US, Managing Partner
+1 818 455-5969
[email protected]

SOURCE Group-IB