Enterprise web security provider Finjan warns that cybercrime organisations are developing into extremely powerful, well-structured global entities with the means to cause vast damage on a widespread scale. The web gateway security solutions company cites the US theft of payment card details which affected no less than 41 million cardholders as a relevant example of the type of damage cybercrime syndicates can cause.

The actions and modus operandi of the US hacking ring, whose 11 members were recently apprehended and charged by local authorities, come to illustrate some of the conclusions and warnings of Finjan’s Q2 Web Security Trends Report. The scale of the hacking operation and the fact that it targeted nine major US retail chains seems to confirm that not only is cybercrime flourishing, but its internal structures, stolen data storage and operation capabilities and its use of veritable crimeware business models all constitute a major reason for concern.

Finjan’s Malicious Code Research Centre (MCRC) also points out that the majority of illicit organisations which specialise in payment frauds and identity theft are yet to be targeted by investigators. The increasing scale of their operations also indicates that they have a thorough understanding of the vulnerabilities of retailers’ payment systems and data storage capabilities, which makes their criminal endeavours all the more worrisome.