Cyber crime up as hackers use Ukraine war as distraction

Online hackers have been more active since Russian forces invaded neighboring Ukraine in late February, CrowdStrike CEO George Kurtz told CNBC’s Jim Cramer on Tuesday.

In an interview on “Mad Money,” the cybersecurity executive said shadowy digital actors have sought to take advantage of the on-the-ground military conflict.

“E-crime is actually up since the war in Ukraine started,” Kurtz contended, leaning on the observations of CrowdStrike’s threat intelligence unit, which he said provides visibility from 176 countries.

“Everyone is looking at nation-state actors, everyone is talking about Ukraine and Russia, as they should be. It’s a terrible situation,” Kurtz said. “But the e-crime actors are looking at that as a distraction and ramping up their activities and stealing more money as the days go on.”

Kurtz also appeared on “Mad Money” on Feb. 24, after Russian troops moved into Ukraine to start what’s become nearly three weeks of deadly fighting. At the time, Kurtz told Cramer he’d been hearing from executives across the financial industry who expressed concerns about Russian cyberattacks in response to sanctions on the Kremlin and banks in the country.

Kurtz suggested that’s still the case, and industry players are mindful of it.

“Right now, given the geopolitical environment, there is a big focus on the financial services industry expecting some level of retaliation based upon the sanctions we’ve implemented against Russia,” he said.

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