In China, Cybercrime Underground Activity Doubled In 2013

By Sara Peters posted on 9/3/2014
 
Forget intelligence gathering. Financially motivated cybercrime is booming behind the Great Wall.
 China has become infamous for politically motivated intelligence gathering, but new research from Trend Micro shows that a financially motivated, politically independent cybercrime underground is alive and growing behind the Great Wall, as well.
The new report shows that Chinese cybercrime underground activity doubled between 2012 and 2013. According to Trend Micro CSO Tom Kellermann, it has likely tripled since then.
Further, Kellermann says, these criminals are not just targeting victims in other countries. The targets include "the bourgeois, nouveau-riche Chinese elite who have profited from capitalism" in a country with a dwindling middle class.
The Chinese government "has been focused externally... on information dominance and espionage," Kellermann says. The technological skills cultivated by the country's leaders are coming back to hurt them in the form of new cybercriminals "who are not beholden to the regime. They believe money is God and believe that crime has evolved with technology.
 
DarkReading/ full article here/ http://www.darkreading.com/in-china-cybercrime-underground-activity-doubled-in-2013/d/d-id/1306921?