Source: National Cyber Security – Produced By Gregory Evans
New YORK/SAN FRANCISCO: When US prosecutors this week charged two Israelis and an American fugitive with raking in hundreds of millions of dollars in one of the largest and most complex cases of cyberfraud ever exposed, they also provided an unusual look into the burgeoning industry of criminal hackers for hire. The trio, who are accused of orchestrating massive computer breaches at JPMorgan Chase & Co and other financial firms, as well as a series of other major offences, did little if any hacking themselves, the federal indictments and a previous civil case brought by the US Securities and Exchange Commission indicate. Rather, they constructed a criminal conglomerate with activities ranging from pump-and-dump stock fraud to internet casino break-ins and unlicensed bitcoin trading. And just like many legitimate corporations, they outsourced much of their technology needs. “They clearly had to recruit co-conspirators and have that type of hacker-for-hire,” said Austin Berglas, former assistant special agent in charge of the FBI’s New York cyber division, who worked the JPMorgan case before he left the agency in May. “This is the first case where it’s that clear of a connection.” Berglas, who now heads cyber-investigations for private firm K2 Intelligence, said additional […]
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