Panda Security Insight

Twenty years ago, Artemis, our first antivirus, detected 3 viruses. Today, with our Collective Intelligence automatic detection system, we have more than 29 million individual samples of malware stored in the cloud. Celebrating an anniversary is always a reason to be happy. But it’s also a good time to look back and take stock of how we have evolved through all these years into “the Cloud Security Company”, a positioning which reflects the evolution of our technology rather than a question of marketing.

Mikel founded Panda in Bilbao (Spain) in 1990. This was a time when the Internet was far from a widespread phenomenon; information was more commonly exchanged by fax and computer infections were transmitted primarily through floppy discs. Risks clearly had another dimension… Yet Artemis and Collective Intelligence have more in common than it may seem: Both are the product of a commitment to technological innovation, of the search for solutions to contemporary problems… of a spirit that has characterized this company since it first set out.

I’m not going to give a rundown of our 20 year history. For that we have prepared a website with images, videos, anecdotes… You’ll be able to see how things have changed: our products, advertising, malware… and ourselves!
However, I would like to reflect on four milestones that illustrate well how innovation has become the basis of our identity. In 1998 we were the first company to deploy daily signature file updates. In 2004, we launched TruPrevent, the first automatic system on the market for behavioral analysis of threats and intrusion prevention. In 2007 we delivered Collective Intelligence, the first database technology for classifying signatures and in 2009 we have launched the beta version of Cloud Antivirus, the first free, cloud-based antivirus. So it’s not just that we evolve, we are ahead of new trends, and it is this that has helped us grow into one of the leading global security companies, with offices in 56 countries and a team of more than 1,500 employees.

All this has been possible thanks, on the one hand, to the Panda team, all those individuals who work day in and day out to drive the company forward. And on the other hand, to all our clients. All those individual users, small family businesses, companies of all sizes, partners, public organizations… who over the years have entrusted the security of their computers and systems to Panda. This is a thrilling project that we have, which changes from day to day, demanding constant innovation, impossible to get bored of… To all those who make this possible, thank you!

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Ehud Tenenbaum, alias “The Analyzer” has been found guilty of credit card fraud and a sophisticated hacking scam in New York. Federal civil servants estimate he stole 10 million dollars from U.S. banks. Tenembaun, 29 years, was also arrested in Canada last year, and still hasn’t been tried for allegedly stealing 1.5 million dollars from Canadian banks. This Israeli hacker hit the news 10 years ago when he was arrested for the first time at the age of 19. He could be sentenced to up to 15 years in prison, which we hope will be a deterrent. Wikipedia has a list of recently convicted cyber-crooks. However, the fight against cyber-crooks doesn’t always end this way…

Malware has become a multi-million dollar business where catching hackers is difficult (the Internet has no barriers, but the law and the police do). In addition, and due to different laws, hackers that are caught are fined with sums that are rarely proportional to the seriousness of their crimes and the illicit benefits they obtain. I remember a cartoon, where a robber points a gun at a checkout operator who answers: “Why do you go to so much trouble when you can do it online?”, and at less risk…

Cyber-crooks take advantage of the fact they are extremely difficult to track. Their business structure is increasingly complex: some hackers create banker Trojans, others distribute them to steal credit card details and others launder the money stolen. Criminal activity spreads across countries, while there is little inter-state collaboration. Security force investigations have several limitations.

Furthermore, the few cases in which criminals are identified, on being tried there is no adequate cyber-crime legislation (crimes are not classified) and in general, the law is not ready to try these kinds of cases. Some criminals are sent to prison, but in many cases they are only fined (which is affordable for cyber-criminals).

As an example, PandaLabs carried out the following “mathematical exercise”:  due to the rapid increase in rogueware (fake antivirus software) and to its single objective of obtaining financial benefits, PandaLabs wanted to quantify its economic effects. Based on estimates made by the IT sector, PandaLabs calculated cyber-crooks were earning 34 million dollars a month thanks to rogueware.

With such vast potential profits, there is a need to adapt legislation, advance inter-state cooperation and increase prison sentences. We are increasingly finding that where there is malware, there is a professional criminal operation behind it.

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