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News

North African Cybercrime Report

Research And Markets : 26 April, 2010  (New Product)
Research and Markets is offering a research report on the threat of cybercrime originating from North Africa
Research and Markets has announced the addition of the 'A Focus on Cybercrime from North Africa' report to their offering.

North African pirates represent a growing threat for European banks. The hackers in this area flourished over the last 5 years because of anti-cybercrime deficiencies in their legal and political systems. Furthermore, the fast development of Internet connectivity and the broad availability of hacking tools drive more and more young fraudsters into this activity.

North Africa has experienced some profound changes in recent years, both in Internet access for the general public and in the banking sector. The emergence of new uses such as on-line banking and e-commerce entails serious risks for the regions institutions and customers. At the same time, cybercrime networks have specialized in means of payment fraud, and in particular theft of bank information.

The hackers are not necessarily organized into professional teams. Their technical abilities and the protection of their anonymity are still quite limited compared with other hacker communities (Russian and Portuguese speakers). On the other hand several high risk factors make this geographical area a hotbed for computer abuse.

The constant arrival of new entrants to this market is particularly helped by the on-line availability of the necessary components of these attacks, as well as relative impunity from the legal point of view. The limited resources of the local law enforcement agencies and legal provisions that have long been inadequate have encouraged this state of affairs.

The likelihood of suffering an attack by hackers from North Africa is therefore great, but the financial impact of actual fraud generally remains fairly low. On the other hand, the brand damage resulting from a defacement or from a phishing campaign is still a major risk and difficult to quantify.

The will of the North African authorities to increase their anti-cybercrime effort (stronger laws, human forces, etc.) is growing, in particular with the upgrading of the legal systems in these countries. The banking institutions must continue to put direct pressure on the local authorities so that complaints leading to arrests are made. At the same time, the banks must continue their guerrilla warfare against local hackers making their attacks less profitable.

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