Original post from SC Magazine
Here we are, another year almost wrapped and I’m starting to rethink whether I’ve chosen the right profession. What’s set me on this path is a recent study I’ve been mulling, which basically reveals that cybercrime is, like, the hottest industry for career-minded professionals looking for lucrative occupations that could make them millions of dollars on a more corrupt vocational trajectory.
Commissioned by Bromium, this cybercrime-economy research was conducted by Dr. Michael McGuire, a senior lecturer in Criminology at Surrey University, and based on his interviews with convicted cybercriminals, data from international law enforcement operations and financial institutions, and some covert observations on the dark web. Not only does the study show the cybercrime economy has grown to a colossal $1.5 trillion dollar annual industry in unlawful profits, it also illustrates just how stratified cybercrime operations have become.
This point, which SC Media has covered before, is pretty interesting in that online criminal operations are now mirroring service-oriented companies like Amazon and Google – a trend the report cites as “platform criminality.” The big money is in establishing a service/product organization to sell illegal goods or services, launch and manage various malware campaigns, steal data or intellectual property, set up fake storefronts, whatever. While the individual hacker could make maybe $30,000 annually, the manager of a cybercrime service/product platform could make more than $2 million a year.
There is the whole problem with these operations being illegal, so maybe a career change isn’t all that in order. However, given the growth of this more illicit economy, there likely are just as many savvy professionals entering the nefarious side of the cybersecurity market as seeking the growing number of legit opportunity.
This industry, while having been around for a mighty long time, is evolving on innumerable fronts at a forceful rate. Lucky for us, we’ll be hitting our 30th Anniversary next year – a milestone worth celebrating. Yet, just like other organizations young and old, it’s also an occasion for some deep reflection – a moment for us as an inveterate brand to determine how we continue our course, while also taking some steadfast steps to eclipse the information and media services we’ve created so far.
We’ve had our share of achievements and, of course, also have still more high-spirited aspirations and objectives to continue innovating as we mature. It’s in those goals that we’ll still focus on our abiding mission to furnish you and your organizations with the expert guidance, insight, information and strategies you need to counter an ever-burgeoning cybercriminal industry.
Happy Holidays to you all!
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Author: Illena Armstrong