The cybercriminal economy has hit global revenues of $1.5 trillion a year, according a nine-month long study which shows the vast scale of cybercrime and how profits are acquired, laundered, spent and reinvested.
“The metaphor of “cybercrime as a business” is no longer adequate to capture its complexities.” says the Into the Web of Profit report, commissioned by Bromium and conducted by the University of Surrey. “A more appropriate metaphor is an economy, not a business; a structure functioning as a literal “Web of Profit” – a hyper-connected range of economic agents, economic relationships and other factors now capable of generating, supporting and maintaining criminal revenues at unprecedented scale”. Such is the extent of the economic model around cybercrime, the report suggests that it has “now become a kind of mirror image of contemporary capitalism” complete with disruptive business models.
Read more about the findings of the Into the Web of Profit report on ZDNet.