Home / News

Cybercrime, Underground Economy Booming, Stolen Credit Card Data Main Driver

Credit card information is the most advertised category of goods and services on the underground economy accounting for 31 percent of the total, according to recent data found by security experts. In a report released today by Symantec, stolen credit card numbers are reported to sell for as little as $0.10 to $25 per card with the average advertised stolen credit card limit at more than $4,000. According to calculations, the potential worth of all credit cards advertised during the reporting period was $5.3 billion.

The popularity of credit card information is likely due to the many ways this information can be obtained and used for fraud; credit cards are easy to use for online shopping and it is often difficult for merchants or credit providers to identify and address fraudulent transactions before fraudsters complete these transactions and receive their goods. Also, credit card information is often sold to fraudsters in bulk, with discounts or free numbers provided with larger purchases.

Underground economy channel screenshot: Advertisers on underground channels attempt to capture attention for their messages using techniques such as capitalization, multi-colored text, ASCII flares, and repeated sales pitches across multiple lines. (Source: Symantec Corporation)

The study estimates the value of total advertised goods on underground economy servers was over $276 million between July 1, 2007 and June 30, 2008.

Related Links:
New Symantec Report Reveals Booming Underground Economy (Symantec, 11/24/2008)
Symantec Takes Cybercrime Snapshot with 'Underground Economy' Report (Network World, 11/24/2008)

Related topics: Cybercrime, Security

WEEKLY WRAP — Get CircleID's Weekly Summary Report by Email:

Comments

To post comments, please login or create an account.

Related Blogs

Related News

Topics

Industry Updates – Sponsored Posts

DotConnectAfrica Delegates Attend the Kenya Internet Governance Forum

3 Questions to Ask Your DNS Host about Lowering DDoS Risks

Continuing to Work in the Public Interest

Verisign Named to the OTA's 2014 Online Trust Honor Roll

4 Minutes Vs. 4 Hours: A Responder Explains Emergency DDoS Mitigation

Dyn Acquires Internet Intelligence Company, Renesys

Tips to Address New FFIEC DDoS Requirements

Smokescreening: Data Theft Makes DDoS More Dangerous

dotStrategy Selects Neustar's Registry Threat Mitigation Services for .BUZZ Registry

24 Million Home Routers Expose ISPs to Massive DNS-Based DDoS Attacks

What Does a DDoS Attack Look Like? (Watch First 3 Minutes of an Actual Attack)

Joining Forces to Advance Protection Against Growing Diversity of DDoS Attacks

Why Managed DNS Means Secure DNS

Rodney Joffe on Why DNS Has Become a Favorite Attack Vector

Motivated to Solve Problems at Verisign

Diversity, Openness and vBSDcon 2013

Neustar's Proposal for New gTLD Collision Risk Mitigation

IT Project Management: Best Practices in Small-Scale Engagements

DDoS Attacks in the United Kingdom: 2012 Annual Trends and Impact Survey

7 Keys to Professional Services Value: A Client-Side Perspective

Sponsored Topics