Cybercriminals earn over $3 billion a year from social platforms

Social media-enabled cybercrimes are generating at least $3.25 billion in global revenue annually according to a new report. The study released by virtualization-based security company Bromium and  researched and written by Dr Mike McGuire, senior lecturer in criminology at the University of Surrey, looks at the range of techniques used by cybercriminals to exploit trust and enable rapid infection across social media. It also details the range of services being offered in plain sight on social networks, including, hacking tools and services, botnets for hire, facilitated digital currency scams and more traditional criminal activities. Among the findings are that reports… [Continue Reading]