Social Media Drives $3.2bn+ in Black Hat Profits

guest · Feb 26, 2019

Social Media Drives $3.2bn+ in Black Hat Profits
February 26, 2019
https://www.infosecurity-magazine.com/news/social-media-drives-32bn-in-black-1/

Social media platforms are a major conduit for malware and a highly effective marketplace for black hat resources, generating cybercrime worth over $3.2bn every year, according to Bromium.

The security vendor’s latest report, Social Media Platforms and the Cybercrime Economy, is the result of a six-month study by Mike McGuire, senior lecturer in criminology at the University of Surrey. It follows a previous Into the Web of Profit report written by McGuire which estimated annual global cybercrime revenues at $1.5tr.

The report also claimed that social platforms feature up to 20% more methods by which malware can be delivered to users — such as adverts, shares and plug-ins — than comparable sources like corporate or e-commerce sites.
Some 40% of malware infections identified in the report were linked to malvertising, while nearly a third (30%) came from malicious plug-ins and apps.
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