“We didn’t just get the command and control servers; with Mariposa we got the guys behind it. The problem is that we can take down the botnet but the criminals are still out there and can start a new botnet – that happens most of the times.” said Luis Corrons, technical director at PandaLabs.
Only the hackers who perform break-ins and thefts, and the financial operators are clearly criminal.
Investopedia Dictionary defines money laundering as “the process of creating the appearance that large amounts of money obtained from serious crimes, such as drug trafficking or terrorist activity, originated from a legitimate source.”
According to the International Monetary Fund (IMF), money laundering transactions are almost beyond imagination – 2 percent to 5 percent of global Gross Domestic Product.
Necessary element of any criminal activity undertaken for profit.
placement -> layering -> integration
Smurfing, a subset of structuring, the practice of executing financial transactions in a specific pattern calculated to avoid the creation of certain records and reports required by law (Bank Secrecy Act (BSA)).
Nigeria scam? Sometimes you actually do receive the money.
INSIGHTS INTO THE
Albert Hui GREM, GCIA, GCIH, GCFA, CISA
WHO AM I?
• Digital Phishnet
• Association of Certified Fraud Examiners
• SANS Advisory Board
Former incident analyst / researcher at top-tier
retail, commercial, and investment banks.
Former government security auditor.
Now a security ronin.
Cybercrime is borderless; cyber law enforcement is not.