News Item

Russia's Million Dollar Hackers

By: Ken Rapoza, Forbes

Few nationalities are as good at making money from hacking than the Russians. Their share of the global cyber crime market, an estimated $12.5 billion black market, doubled last year to $4.5 billion, according to Moscow-based Group-IB, a cyber security services firm working mainly with the Russian government and banks to help reduce online fraud. (See infographics here.)

The Russians are hacking into your computer and your cell phone and they’re making millions as a result.

Earlier this year, Facebook blew the cover off the malware gang Koobface. All five of their members were Russians from St. Petersburg. Eugene Kapersky, the CEO of software security firm Kaspersky Lab, also based in Moscow, said that the Koobface gang had become millionaires thanks to their hacking skills.

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