A new global report, sponsored by Juniper Networks and conducted by the RAND Corporation, has revealed several economic indicators that cyber black markets have reached unprecedented levels of maturity and growth.
While there has been significant research measuring different parts of the hacker black markets, RAND’s report, “Markets for Cybercrime Tools and Stolen Data: Hackers’ Bazaar”, examines for the first time these markets in their entirety and applies economic analysis to better understand how they function. RAND found significant levels of economic sophistication, reliability, accessibility and resilience in the products, distribution channels and actors involved in the black markets.
“The security industry, government and legal communities must come together to establish new norms for how companies can more vigorously defend themselves against cyber-attacks. We must address the root cause behind the accelerated maturation of the cybercrime market – the very economics that drive its success. By disrupting the economics of hacking, we can break the value chains that drive successful attacks. We must never lose the moral high ground, however, so we cannot go on the offensive and hack back, but we can no longer remain passive. By using forms of active defence such as intrusion deception we can identify, thwart and frustrate attackers. Active defence is a promising and exciting approach for addressing the rapidly-evolving threat landscape,” said Nawaf Bitar, Senior Vice-President & General Manager, Security Business, Juniper Networks.
RAND’s report, confirmed by Juniper’s vast experience in the network security ecosystem, suggests the cyber black markets are a mature and growing multi-billion-dollar economy with a robust infrastructure and social organization. RAND found these black markets, like any other economy, react to market forces like supply and demand, and continue to evolve.
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