Tag: espionage

Symantec exposes “Regin” A stealth Sophisticated Spying Malware

Cyber Security, Internet
Summary: A leading computer security company says it has discovered one of the most sophisticated pieces of malware ever seen. Symantec says the bug, named Regin, was probably created by a government and has been used for six years against a range of targets around the world. (Reuters) - An advanced malicious software application has been uncovered that since 2008 was used to spy on private companies, governments, research institutes and individuals in 10 countries, antivirus software maker Symantec Corp said in a report on Sunday. The Mountain View, California-based maker of Norton antivirus products said its research showed that a "nation state" was likely the developer of the malware called Regin, or Backdoor.Regin, but Symantec did not identify any countries or victims. Symantec sa...

Cybercrime and espionage costs estimates upto $445 billion annually

Business, Cyber Security, Internet
A Washington think tank has estimated the likely annual cost of cybercrime and economic espionage to the world economy at more than $445 billion — or almost 1 percent of global income. Writes Ellen Nakashima and Andrea Peterson for Washington Post The estimate by the Center for Strategic and International Studies is lower than the eye-popping $1 trillion figure cited by President Obama, but it nonetheless puts cybercrime in the ranks of drug trafficking in terms of worldwide economic harm. “This is a global problem and we aren’t doing enough to manage risk,” said James A. Lewis, CSIS senior fellow and co-author of the report, released Monday. The report, funded by the security firm McAfee, which is part of Intel Security, represents one of the first efforts to analyze the costs, drawing