Tuesday, May 20, 2014

cyber crime news all over the place

A jury in Penn. found 3 members of the Chinese military guilty of hacking into US companies, including United Steel Workers Union, Westinghouse, and Alcoa, Allegheny Technologies, and SolarWorld. among others, stealing trade secrets valuable to China and other sensitive information. The "victimized U.S. companies to lose capital investments in research and technology." In other words, all the hacking helped China get ahead of the US in technology, trade, and therefore accumulate money, trade, knowledge and other assets. China protests it is innocent. The US says it is part of a large, ongoing effort, which it appears to be. See my past blogs. Will this make China stop? I doubt it. They'll probably go stealth mode after diplomatic and perhaps financial and business protests. These 3 members of the military are the fall guys for the Chinese. It's clearly more of an effort than just what they did. They had the backing of the government to do what they did. Apparently, according to the nightly news report, the US asked China quietly for several weeks to stop and they refused so now there is this loud public event. US companies and government can't afford more of a loss. To read more about it click here http://www.cnn.com/2014/05/19/justice/china-hacking-charges/index.html 

Here's the BBC's take on it showing 5 Chinese military men. China is protesting that the US spies and infiltrates other nation's government and business sites so this is a doublet standard by the US. Interesting argument. To read more click here
 http://www.bbc.com/news/world-us-canada-27477601

In other cyber crime news,  David Ray Camez of the US received a 20 year prison sentence for being a key member of a cyber crime group of the carder.su website which "facilitated rampant cyber fraud throughout the world." He was found guilty of racketeering and also has been fined $20 million. That's right, $20 million. About 5,500 people (criminals) regularly used the site, all believed to have carried out credit card crime resulting in an estimated $50 million in losses to various companies. His is the largest punishment so far for cyber crime. Camez is one of 39 people charged in connection with this case. 21 others will face terms of up to 20 years in jail, others are being charged with lesser crimes. The article does not note which companies were affected. I'd like to know. To read more about it click here http://www.bbc.com/news/technology-27472244

Also yesterday broke the news about Miss Teen USA being blackmailed through the use of Blackshades software. It's a big week for cyber crime busting. I wonder how much effect this is really going to have. There is other software, other cyber criminals. None of the nations are going to stop its monitoring of other nations if it can help it. Particularly with the situation of Miss Teen USA, this is a good time to talk with your kids about cyber safety.

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