Fergie's Tech Blog

Cybercrime: How Online Crooks Are Costing Us Billions of Dollars

Ryan Blitstein writes in The Mercury News:

Somewhere in St. Petersburg, Russia's second city, a tiny start-up has struck Internet gold. Its dozen-odd employees are barely old enough to recall the demise of the Soviet Union, but industry analysts believe they're raking in well over $100 million a year from the world's largest banks, including Wells Fargo and Washington Mutual.

Their two-year rise might be the greatest success story of the former Eastern Bloc's high-tech boom - if only it weren't so illegal. But the cash may be coming from your bank account, and they could be using the computer in your den to commit their crimes.

posted by Fergie @ 11/09/2007 09:25:00 AM