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Security Newswire

Cybercrime's Focus in 2011? Money Laundering, Mobile Phones

Security Newswire
January 20, 2011

Scammers are shifting their focus away from Windows-based PCs to other operating systems and platforms, including smart phones, tablet computers, and mobile platforms in general, according to a report from Cisco Systems Inc.

The Cisco Annual Security Report also finds that 2010 was the first year in the history of the Internet that spam volume decreased.

The report also notes a growing need for money mules, or people recruited to set up bank accounts, or even use their own bank accounts, to help scammers "cash out" or launder money.

Money muling operations are becoming more elaborate and international in scope, says the report, noting they will be a major focus of cybercriminal investment in 2011. ?

The report also says that most cybercrime exploits hinge not only on technology but also on human tendency to misplace trust. The report lists seven "deadly weaknesses" that cybercriminals exploit through social engineering scams -- whether in the form of e-mails, social networking chats or phone calls. The seven weaknesses are sex appeal, greed, vanity, trust, sloth, compassion and urgency. ?

KEYWORDS: cybercrime mobile device security money laundering

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