News & Press Release Distribution Service
Stolen credit card numbers become most popular items for sale on criminal chat channels
2008-12-01 17:28:20 (GMT) (Caymanmama.com - Technology News)Omaha, Nebraska (CaymanMama.com) — Security firm, Symantec gathers the figures of online fraud to ascertain the depth and extent to which cyber crime through stolen credit card numbers and the bank data has deepened. According to a recent report by BBC Nerws, the alarming figures were reported by Symantec which showed that fraudsters who specialize in credit card fraud have a credit line of over $5 billion.
The news report projects that the sale of credit card numbers makes up nearly 31% of the all items offered for sale, followed by bank details that make up to 20% of all items offered for sale. Criminal chat channels is the popular place for buying such items. Though most credit card numbers offered for sale are either blocked or invalid cards and from closed accounts, “these figures are indicative of the value of the underground economy and the potential worth of the market,” says the report.
The report added that the reason for the popularity of stolen credit card number credit is due to the fact that card numbers are easy to obtain and that there is a ready market for the stolen data. Regarding the methods employed by the cyber criminals in obtaining required data is usually through “phishing schemes, database attacks and magnetic strip skimmers, are designed to steal credit card information.”
The report from Symantec goes further in opening up by speaking about the criminal groups and their links with each other, describing the European and Russian cyber crime groups as being the most organized ones, compared to the US where such thieves are ‘loosely aligned’.
Evidence of organized crime exists as per the report and collaboration and alliances occur through forums and chat channels.
For detailed report visit: http://news.bbc.co.uk/2/hi/technology/7742455.stm
CaymanMama.com - Press Release Distribution Service
Comments
Articles
- Legal Blogging to Get Ahead
- The Power of Twitter SEO for Lawyer Marketing
- Social Media Success For Lawyers Who Measure Twitter Influence
- Facebook Profiles vs Pages for Law Firms Explained By Lawyer Marketing Company
- Blogging Benefits For Small Law Firms and Solo Attorneys
- Google Pay Per Click Advertising For Law Firms
- Growing Twitter Traffic a Bonus for Lawyers Using Social Media Marketing
- Facebook Status Tagging Allows Lawyers to Connect Updates to Community Interests
- Lawyers Share What They Know & Boost Credibility With Social Networking
- Most Lawyers Now Using Online Social Networks says Lawyer Marketing Company
