Cybercrime , Events , Fraud Management & Cybercrime

Unpacking the Booming Business of Cybercrime

Trend Micro's Jon Clay Gets Behind the Scenes of Criminal Organizations
Jon Clay, vice president of threat intelligence, Trend Micro

Cybercrime has evolved over the decades, and criminals are managing entities of different sizes, specialties and revenue models - mimicking the ecosystem of legitimate organizations.

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Cybercrime is a popular, high-revenue industry that's growing, and the people running it are organizing themselves in a much better way than they did in the past, said Jon Clay, vice president of threat intelligence at Trend Micro.

"In the past, it was always one or two people, and they would sell something here, sell something there. Now they're actually forming businesses. Just like in legitimate organizations, there are small businesses, medium-sized businesses and even large businesses," he said.

In this video interview with Information Security Media Group at RSA Conference 2023, Clay also discussed:

  • The operational workings of criminal undergrounds;
  • The different approaches to defend against criminal businesses of different sizes;
  • Business consolidations and startups in the threat actor space.

Clay has spent more than 25 years of his 35-year career in cybersecurity, specializing in cyberthreat landscape, threat intelligence and advanced detection technologies, with a focus on the threat landscape, cybercriminal undergrounds, attack life cycle and the use of advanced detection technologies in protecting against today's sophisticated threats.

About the Author

Michael Novinson

Michael Novinson

Managing Editor, Business, ISMG

Novinson is responsible for covering the vendor and technology landscape. Prior to joining ISMG, he spent four and a half years covering all the major cybersecurity vendors at CRN, with a focus on their programs and offerings for IT service providers. He was recognized for his breaking news coverage of the August 2019 coordinated ransomware attack against local governments in Texas as well as for his continued reporting around the SolarWinds hack in late 2020 and early 2021.

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