"Why Are There So Many Data Breaches? A Growing Industry of Criminals Is Brokering in Stolen Data"
Researchers at Deakin University discuss the rise in cybercrime and who is responsible for the latest surge in cyberattacks. According to Deakin University's James Martin, Senior Lecturer in Criminology, and Chad Whelan, Professor of Criminology, the rising number of data breaches is being driven by the growth of a global illicit industry in which data is traded. Hackers known as "initial access brokers" are particularly skilled at illegally gaining access to victim networks and then selling this access to other cybercriminals. Hackers and initial access brokers are only one component of a vast and evolving cybercrime ecosystem. This ecosystem consists of various cybercriminal groups specializing in one aspect of online crime and then collaborating to perform the attacks. For example, ransomware attacks are one of the fastest-growing and most damaging types of cybercrime, involving malicious software that paralyzes a victim's device or system until a decryption key is provided following a ransom payment. Ransomware attacks earned cybercriminals more than $600 million in 2021 alone. The enormous amounts of money to be made in ransomware and the number of targets to choose from all over the world fuel the growth of a vast ransomware industry. These attacks are increasingly being carried out by networks of different cybercriminal groups, each of which specializes in a different stage of the attack. Initial access brokers often carry out the first stage of a ransomware attack. It is their job to gain access to a victim's network. Once they have gained access to a victim's network, they typically sell this access to other groups, who then steal data and use ransomware to take down the victim's computer systems. This type of crime has a massive and growing underground market. On both the dark web and surface web, dozens of online marketplaces provide services from initial access brokers. Their access to businesses can be purchased for as little as $10, though more privileged, administrator-level access to larger businesses can cost several thousands of dollars or more. This article continues to discuss insights into the cybercrime ecosystem behind the rise in cyberattacks.