[ISN] Facing down cyber threats

From: InfoSec News <alerts_at_private>
Date: Sat, 11 Oct 2008 02:03:26 -0500 (CDT)

By Chua Hian Hou
The Straits Times 
October 10, 2008

ORGANISED crime syndicates are raking in fat profits in cyberspace, and 
becoming one of the biggest online menaces.

Such professional cyber gangsters are among the quickest to use new 
technology to, say, hijack and loot online banking or video game 
accounts. Some are making big bucks renting out hacking tools to aid 
less skilled parties in causing havoc, say security experts.

According to Ministry of Home Affairs (MHA) information technology 
security consultant Yu Chien Siang, such crime syndicates have been 
quick to realise the promise of cyber crimes - which can be more 
profitable than peddling drugs in the real world - and are swiftly 
'reinventing' themselves to become high-tech hacking gangs.

Mr Yu was the keynote speaker at the 17th annual GovernmentWare infocomm 
security conference held at the Suntec International Convention and 
Exhibition Centre yesterday.

Just last month, many fans of online game Maple Story found their 
accounts hacked into and looted by one such hacking gang, reportedly of 
Chinese origin.

To guard against such threats, the Government is beefing up cyber 
security here. The three-day GovernmentWare event, which is expected to 
attract over 600 infocomm security professionals, is one effort to raise 
awareness and equip Singapore professionals with the knowledge and tools 
to counter such threats.


Register now for HITBSecConf2008 - Malaysia! With 
a new triple-track conference featuring 4 keynote 
speakers and over 35 international experts, this 
is the largest network security event in Asia and 
the Middle East! 
Received on Sat Oct 11 2008 - 00:03:26 PDT

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