The cybercrime ecosystem: Online innovation in the shadows?

Kraemer-Mbula, Erika; Tang, Puay; Rush, Howard

doi:10.1016/j.techfore.2012.07.002

Cited by 51 publications

(36 citation statements)

References 21 publications

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“…Literature on the economics of organised crime, let alone financial cybercrime, is quite scarce when comparing this to the growing amount of economic studies on individual crime and criminal law. Nonetheless, with the attention shifting towards cybercrime more and more, the field of economics of cybercrime, as introduced above, has seen growing amounts of studies with an economical approach to cybercrime from 2006 onwards (Afroz et al 2013;Anderson 2008;Anderson et al 2012;Anderson and Moore 2006;Bauer and van Eeten 2009;Kim et al 2011;Kraemer-Mbula et al 2013;Lagazio et al 2014;Li et al 2009;Moore 2010;Moore et al 2009;Rao and Reiley 2012;Sood et al 2013a;Walker 2012).…”

Section: Theoretical Background Economics and Crime Analysismentioning

confidence: 99%

“…underground markets, whereas Afroz et al (2013) comparatively studied these underground markets, five to be precise, in more depth for one of the first times. Furthermore, Kraemer-Mbula et al (2013) have shown the ongoing globalisation based on a growing digital ecosystem, in cybercrime and underground markets, using credit card fraud and identity theft as exemplary cases. Moreover, Sood and Enbody (2013) introduced the model of crimeware-as-a-service, describing and analysing multiple forms of criminal services purchasable on underground markets.…”

Section: Theoretical Background Economics and Crime Analysismentioning

confidence: 99%

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Discerning Novel Value Chains in Financial Malware

Wegberg

Klievink

Eeten

2017

Eur J Crim Policy Res

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Fraud with online payment services is an ongoing problem, with significant financial-economic and societal impact. One of the main modus operandi is financial malware that compromises consumer and corporate devices, thereby potentially undermining the security of critical financial systems. Recent research into the underground economy has shown that cybercriminals are organised around highly specialised tasks, such as pay-perinstall markets for infected machines, malware-as-a-service and money mule recruitment. Setting up a successful financial malware scheme requires the aligning of many moving parts. Analysing how cybercrime groups acquire, combine and align these parts into value chains can greatly benefit from existing insights into the economics of online crime. Using transaction cost economics, this paper illustrates the business model behind financial malware and presents three novel value chains therein. For this purpose, we use a conceptual synthesis of the state-of-the-art of the literature on financial malware, underground markets and (cyber)crime economics, as well as today's banking practice.

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Section: Theoretical Background Economics and Crime Analysismentioning

confidence: 99%

Section: Theoretical Background Economics and Crime Analysismentioning

confidence: 99%

Discerning Novel Value Chains in Financial Malware

Wegberg

Klievink

Eeten

2017

Eur J Crim Policy Res

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“…Analogous to natural ecosystems, this cyber ecosystem [17] is characterised by the inherent interdependencies and interconnections that emerge as a complex dynamic system. The ecosystem lens in which to view the cybercrime domain is essential in understanding and implementing the strategic vision of the comprehensive approach [8,19,23,25].…”

Section: Cyber Domainmentioning

confidence: 99%

The Cyber-Ecosystem Enabling Resilience Through the Comprehensive Approach

Masys

2014

Disaster Management: Enabling Resilience

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According to Helbing (Nature 497:51-59, 2013) [14] we are increasingly living in a world which creates 'hyper-risks' because of numerous networks and interdependencies. In this 'hyper-connected world' with interconnected social/ technical/political/economic domains, shocks to regional, national and global systems can have significant security implications. This 'hyper-connectivity' characterized by the global pervasiveness of internet and cyber usage has also provided a conduit for threats to national security as described in the United Nations Office on Drugs and Crime (UNODC in Comprehensive study on cybercrime, 2013) [34]. Robinson et al. (Cyber-security threat characterization A rapid comparative analysis, 2013: 5) [28] of RAND defines Cyber threats as '…those actors or adversaries exhibiting the strategic behaviour and capability to exploit cyberspace in order to harm life, information, operations, the environment and/or property'. The pervasiveness and impact of cyber-security threats has made it a top tier security issue in national risk assessments in the last five years (Robinson et al. in Cyber-security threat characterization A rapid comparative analysis, 2013: viii) [28]. Resilience thereby becomes a key property in the face of such threats. Resilience does not reside purely in cyber security patches and technical solutions but requires a more comprehensive and collaborative approach that embraces the social, organizational, economic, political and technical domains.

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“…Today, online marketplaces exist where participants use web-based platforms to meet, discuss, exchange, and buy and sell goods and services to enable cybercrime activities (Goncharov, 2012(Goncharov, , 2014Holt, 2013;Kraemer-Mbulaa et al, 2013;Lusthaus, 2013). These crimeware marketplaces provide an easy way to find cooffenders, keep up to date on current cybercrime practices, and coordinate actions to gain competitive advantages in specific market niches (Lusthaus, 2013).…”

Section: Introductionmentioning

confidence: 99%

“…The United States is considered the major generator of malware and the source of most cybercriminal attacks (Kraemer-Mbulaa et al, 2013), and several studies have examined crimeware marketplaces in the United States. For example, Thomas and Martin (2006) studied a marketplace specialized in financial fraud that leveraged the Internet Relay Chat (IRC) protocol.…”

Section: Introductionmentioning

confidence: 99%

Crimeware Marketplaces and Their Facilitating Technologies

Gad

2014

Technology Innovation Management Review

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The cybercrime ecosystem: Online innovation in the shadows?

Cited by 51 publications

References 21 publications

Discerning Novel Value Chains in Financial Malware

Discerning Novel Value Chains in Financial Malware

The Cyber-Ecosystem Enabling Resilience Through the Comprehensive Approach

Crimeware Marketplaces and Their Facilitating Technologies

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