This is a must read review by Richard Poplak of Darkmarket: Cyberthieves, Cybercops and You
From Daily Maverick- Dec 5, 2011
Mischa Glenny, author of McMafia: A Journey Through the Global Criminal Underworld, has written a follow-up about cyber crime. It’s a book that will keep you awake at night. By RICHARD POPLAK.
First, some words on my finances. I engage three credit cards in a complex fiduciary shuffle, playing one off against the other like contestants on Celebrity Apprentice. Recently, I learnt these cards have been used by parties other than me. I know this because our tastes and itineraries do not diverge: spending sprees R8,000 at Ralph Lauren in Jersey City, flights to Aruba and R400 dinners at MacDonald’s in Marseilles. (How one spends R400 on Happy Meals is a mystery in itself.) All in, I’m currently contesting about R80,000 in fraudulent charges. The outsourced phone personnel cheerfully assisting me in this endeavour swear I won’t be responsible for the actions of my ghostly profligate.
At that last statement, blithely offered up by Amal in Bangalore or Vitash in Mumbai, I can only laugh. If anyone undergoing a similar ordeal thinks consumers don’t ultimately pay the tab for credit card fraud, then they’ve been asleep for the past four years. The house always wins—in the headlong rush to dole out easy money, and in the orgy of downsizing that eliminates tellers and branches from a financial institution’s bottom line (so they can better concentrate on gambling government-guaranteed money on bad mortgages), banks have left the digital security gate wide open.
Joe Average pays twice. First as the sucker shoring up American Express or MasterCard’s insurance premiums with hidden charges and usurious interest payments; second as a taxpayer financing the insanely expensive police procedurals that almost never result in an arrest, much less a conviction.
Misha Glenny, in his new book DarkMarket: Cyberthieves, Cybercops and You, drags late-stage capitalism’s boogeymen from the mainframe into the daylight, and it’s a horror show. (Zombie computers, it turns out, are significantly more frightening than their human counterparts.) The book reads like William Gibson’s Neuromancer, lightly updated and thoroughly fact-checked. Ultimately, it functions as a moral tale that morphs into a tragedy: “In humanity’s relentless drive for convenience and economic growth, we have developed a dangerous level of dependency on networked systems in a short space of time,” notes Glenny. Read More