Inside the cybercrime economy

IT security is in a state of flux because hackers are developing an organised, systematic approach to committing online fraud, warned security expert Steve Gold at the recent AccountingWEB.co.uk/National B2B Centre ebusiness seminar.

Citing research from specialist security firm Finjan's Q2 2008 Web Security Trends Report, Gold said, "Criminals now use similar applications to those you find in the business world and supply their customers as a service."

"The chances of being caught are extremely low and the profit from a $10,000 investment can be as much as 2500%. It's more profitable and less risky than prostitution or drug smuggling," he said.

"Fraud will take the path of least resistance and this is certainly true when it comes to electronic threats."