Cybercrime mastermind offers Ferrari for executing bigger scams

Security

by CBR Staff Writer| 12 May 2014

Video promises successful hackers exotic prizes.

The leader of a major cybercrime ring has reportedly offered fabulous prizes to associates who carry out the biggest online scams and earn the most money.

The European Cybercrime Centre (EC3) is currently investigating a video posted earlier this month which offered successful hackers rewards such as luxury sports cars and female assistants as part of an 'employee of the month' competition.

The head of the European Cybercrime Centre, Troels Oerting, told the Independent that, "A kingpin will offer a Porsche or a Ferrari to sub-groups who earn the most money."

Oerting added that a video was posted on the so-called 'dark net', an encrypted network that ensures users' anonymity, offering high rewards for young technological talent.

He warned that increasing cyber crime threat will result in a new two-tier Europe, in which the rich can afford the costly technology to secure themselves from such threats, whilst the unprotected poor remained vulnerable to cyber criminals.

"We have 28 different legislations but we have one new crime phenomenon," Oerting said.

"If you're rich you live in a nice place with a fence around it with CCTV, but if you're poor.... On the internet, some will be able to protect, some will not."

The EC3 said that about 85% of European cybercrime activity currently emanates from Russian-speaking regions targeting Western countries.

"They are very, very good at locating themselves in jurisdictions that are difficult for us. If we can pursue them to arrest, we will have to prosecute by handing over the case," said Mr Oerting.

"Even if they will do it, it's a very cumbersome and slow process. You can wait until they leave the country, then get them. That's a comparatively small volume. The police ability stops at the border.

"We are also seeing signs of movement to African countries when the broadband is getting bigger. We will probably see more from places we don't want to engage with."

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