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“More cyber criminals are entering into the game at a quicker pace than quite honestly we can keep up with.”

A Russian crime ring is suspected of obtaining access to a record 1.2 billion username and password combinations, shedding renewed light on how vulnerable online personal information can be. Cybersecurity firm Hold Security said the gang of hackers was based in a city in south-central Russia and comprised roughly ten men in their twenties who were all personally acquainted with each other, the New York Times reported.

Cybersecurity experts say this enormous data breach is just the latest evidence that cybercrime has become a global business—one that, including all types of cybercrime, costs the world economy an estimated $400 billion a year. Complex malicious software, or malware, is finding its way into the hands of hackers not just in known cybercrime hubs like Russia and China but also in Nigeria and Brazil while expanding Internet access around the world means that there are more potential cybercriminals …