[News] Fast-growing cyber crime threatens financial sector: Europol

The “remorseless” growth of cyber crime is leading to 4,000 ransom attacks a day and gangs’ technological capability now threatens critical parts of the financial sector, the head of Europol said on Wednesday.

“There is this sort of cyber criminal underworld that’s a lot bigger and smarter and adept than most people think,” Wainwright said. “And, against it, we still have generally low cyber security standards.”

Online criminals have become so sophisticated that gangs have created “conglomerations” with company structures that specialize in different criminal activities to carry out the attacks, Rob Wainwright, who leads the EU law enforcement agency, said.

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