Cybercrooks Surpassed Old School Bankrobbers In '09

krebsonsecurity writes "Organized cyber-criminal gangs stole $25 million in the 3rd quarter alone last year, by pilfering the online bank accounts of small to midsized businesses, the FDIC reported last week. In contrast, traditional bank robbers hauled just $9.4 million in 1,184 bank robberies during that same period, according to an analysis of FBI bank crime statistics by krebsonsecurity.com. From that story: 'The federal government sure publishes a lot more information about physical bank robberies than it makes available about online stick-ups. Indeed, the FBI's bank crime stats are extraordinarily detailed. For example, they can tell you that in the 3rd quarter of last year, bank robbers were more likely to hold up their local branch between the hours of 9 a.m. and 11 a.m. on a Wednesday than at any other time or day of the week; they can tell you the number of tear gas and dye packs taken with the loot, the number of security cameras activated, the number of food stamps taken, even what percentage of suspected perpetrators had illegal drug habits at the time of the robberies. About the only thing the stats don't tell you is what brand of jeans the perpetrators were wearing and whether the getaway car had cool vanity plates. What do we get about e-crime statistics from the federal government? One guy from the FDIC giving a speech at the RSA conference."

Comments

Saw the ethief coming...

[aleqi_njbp]

Since only 3% of all dollars exist as paper money you knew this one was coming. If thieves only robbed the paper money they would be limiting their money pool they steal from.

How long until...

[sophomoric]

How long until Comp Sci majors are considered more at-risk to be future criminals than the football team?

Re:How long until...

[Nadaka]

Already there. I don't tell people about what I do for two reasons:

1: they want me to fix their computer.
2: they ask me if I can hack into government computers to prove UFO's exist.

Huh

[macemoneta]

When I looked at the numbers, all I could think of was "that wouldn't even come up to a good bonus at Goldman Sachs".

Which ones are the bank robbers again?

Re:Huh

[savanik]

This was actually predicted some time ago, in a Cyberpunk 2020 supplement. I forget which one exactly, I think it was 'Listen Up, You Primitive Screwheads!'

"Back in the late twentieth century, the average short term loan's length was 30 days. In 2060, the average term is 30 seconds. What can you do in 30 seconds? If you hop on a fast bike, you might make it part of the way down the street. But I can take that thirty-second loan and make enough money to buy a South Sea island, complete with mansion and Playboy bunnies to serve my every whim through a little miracle called currency arbitrage."

Quote is approximate.

Re:why do people hack bank accounts?

[TheLink]

> why do people hack bank accounts?

Because they're too stupid to be investment bankers, or their conscience would bother them...

Not even a blip.

[Hatta]

$25 million, roughly 100 million all year. Are you kidding? The financial industry extorted hundreds of billions of dollars from the tax payer in 2009. If this is the cybercrime menace we're supposed to be afraid of, I'm not. I'm much more worried about legalized theft by men in suits.