Fox-IT has been nominated Security Provider of the Year

Research into Cyber-underworld earns Fox-IT a Computable Award nomination

Fox-IT has been nominated Security Provider of the Year

Fox-IT has been nominated for Security Provider of the Year at the 2016 Computable Awards. The company received this nomination for its investigation into the cyber crime group ‘business club’. This study, called GameOver Zeus, was carried out in cooperation with the FBI.

What is so unique about this research? Eward Driehuis, Product Director for Fox-IT’s InTELL and DetACT, is closely involved with the research, and explains why Fox-IT deserves a Computable Award for it.

Theft, money laundering and spying

Since 2010, GameOver Zeus has grown into the biggest cyber threat. The ‘business club’ responsible for GameOver Zeus not only built a professional technical network and stole hundreds of millions, but they were also experts in money laundering. After attacking banks, they kickstarted ransomware attacks, which are still a big problem. There are also indications that they facilitated espionage campaigns.

Eward Driehuis: “The FBI, therefore, went after this group. Such research is extremely difficult because of geopolitical considerations. That’s why the FBI needed the help of a number of external parties, including Fox-IT.”

Working together, internationally

For years, Fox-IT studied the groups responsible for GameOver Zeus for its clients. “We have selflessly contributed to this research, something we do often,” says Eward Driehuis. “We firmly believe that it is important to go after the criminals. The national borders that protect them often make the risk to them very low. That’s why we invest a significant portion of our time in collaboration with international law enforcement. If we don’t, the problem will only grow.”

Making the world a little safer

The actions of the FBI were successful, and GameOver Zeus is no longer a threat. The most significant criminal, Evgeniy Bogachev, fled. But after nearly a year, many business club leaders are again at work, with new groups and new malware. Driehuis: “Everyone knows you can’t solve a problem like this with one action. This was about giving a signal. And moreover, it has been relatively quiet for almost a year: fewer casualties, less damage.”

Fox-IT already helps the largest banks on all continents with their threat intelligence, and will keep investing time to assist in investigations. In order to make the world a little safer.

Vote Fox-IT

Do you want to vote for Fox-IT for Security Provider of the Year? You can do so at the Computable website.

Read more about GameOver ZeuS in this press release.

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