[Editor’s note: This is a blog post from ThreatMetrix. ThreatMetrix is a Silver Sponsor at LendIt USA 2017 which will take place on March 6-7, 2017 in New York City.]
Criminal Franchise in a Box: Cybercrime is more automated, organized and networked than ever before, evolving way beyond hipsters wearing hoodies and hacking from the basement. The growing sophistication of cybercriminals is evident in the evolution of attacks and the use of advanced tools, such as malicious programs, that allow criminals without technical skills to deploy computer ransomware or perform video or audio eavesdropping with a mouse click. This extends the reach of global cybercrime from the technical few to the non-specialized masses, scaling its growth exponentially. However in turn as the bringing down of the botnet Avalanche has shown, removing such networked rings can have a real impact on fraud volume globally.