Menu
Online black market similar to real world economy: Juniper

Online black market similar to real world economy: Juniper

Networking vendor finds the underground hacking world is not that underground after all

Latest research commissioned by Juniper Networks has found the online black market demonstrates many similarities to other free markets.

The Hacker Economics study by the RAND Corporation found the cyber black market is a mature economy with a solid economic structure.

Juniper Networks Australia security director, Greg Bunt, said the sophistication, reliability, accessibility and resilience of the black market mirrors that of the real world.

“This economy is working in exactly the same way to any nation state that is trying to invest in its people, has a healthcare system, education, and training,” he said.

Bunt adds the market itself seems to be following “very tried and true” economic principles.

“They’re building in all sorts of sophistication and reliability into the system that means there is no single point of failure,” he said.

Not for hobbyists

Cyber crime has had an underground image until now, and Bunt admits the online black market wants to be viewed as “underground."

“It certainly doesn’t want to be in the foreground, but it’s certainly not immature and behaving in a way that is not your backyard type interaction,” he said.

“This is a real business and not a bunch of individuals that are interested in doing this as a hobby.”

As for the key takeaway from the report, Bunt said it proves security is not an event but an ongoing process.

“People should move away from legacy perspectives of security, which may be thought of a fortress type model,” he said.

“In order to protect against advanced persistent threats, you have to be in a mindset where there may be a breach in your network somewhere.”

Patrick Budmar covers consumer and enterprise technology breaking news for IDG Communications. Follow Patrick on Twitter at @patrick_budmar.


Follow Us

Join the newsletter!

Or

Sign up to gain exclusive access to email subscriptions, event invitations, competitions, giveaways, and much more.

Membership is free, and your security and privacy remain protected. View our privacy policy before signing up.

Error: Please check your email address.

Tags hackingmalwarejuniper networksgreg buntadvanced persistent threats (APTs)RAND Corporation

Featured

Slideshows

Meet the Reseller News 30 Under 30 Tech Awards 2020 winners

Meet the Reseller News 30 Under 30 Tech Awards 2020 winners

This year’s Reseller News 30 Under 30 Tech Awards were held as an integral part of the first entirely virtual Emerging Leaders​ forum, an annual event dedicated to identifying, educating and showcasing the New Zealand technology market’s rising stars. The 30 Under 30 Tech Awards 2020 recognised the outstanding achievements and business excellence of 30 talented individuals​, across both young leaders and those just starting out. In this slideshow, Reseller News honours this year's winners and captures their thoughts about how their ideas of leadership have changed over time.​

Meet the Reseller News 30 Under 30 Tech Awards 2020 winners
Reseller News Exchange Auckland: Beyond the myths — how partners can master cloud security

Reseller News Exchange Auckland: Beyond the myths — how partners can master cloud security

This exclusive Reseller News Exchange event in Auckland explored the challenges facing the partner community on the cloud security frontier, as well as market trends, customer priorities and how the channel can capitalise on the opportunities available. In association with Arrow, Bitdefender, Exclusive Networks, Fortinet and Palo Alto Networks. Photos by Gino Demeer.

Reseller News Exchange Auckland: Beyond the myths — how partners can master cloud security
Reseller News welcomes industry figures at 2020 Hall of Fame lunch

Reseller News welcomes industry figures at 2020 Hall of Fame lunch

Reseller News welcomed 2019 inductees - Leanne Buer, Ross Jenkins and Terry Dunn - to the fourth running of the Reseller News Hall of Fame lunch, held at the French Cafe in Auckland. The inductees discussed the changing face of the IT channel ecosystem in New Zealand and what it means to be a Reseller News Hall of Fame inductee. Photos by Gino Demeer.

Reseller News welcomes industry figures at 2020 Hall of Fame lunch
Show Comments