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'Crime as a service' flourishes as hackers share skills to build complex attacks to steal cash and intellectual property.
Dozens of cybercrime groups have reached the level of sophistication where their technical capabilities are on a par with those of a nation-state, it has been claimed.
Gangs are capable of building complex systems aimed at stealing money and intellectual property on a grand scale, costing almost the same to the global economy as counterfeiting or the narcotics trade — more than $400bn a year.
"Cybercrime produces high returns at low risk and (relatively) low cost for hackers," said a report sponsored by security company McAfee. The report quoted one unnamed European intelligence official who said there are 20 to 30 cybercrime groups in the former Soviet Union that have "nation-state level" capabilities.
Dozens of cybercrime groups have reached the level of sophistication where their technical capabilities are on a par with those of a nation-state, it has been claimed.