30 May 2017
Book a meeting today

Stolen bank details going cheap on the Web

08 April 2008  |  11854 views  |  0 biometric  face pointer

Cyber criminals are selling stolen bank account and credit card details for knock down prices at online supermarkets as part of a thriving and maturing underground economy, according to Internet security outfit Symantec.

Symantec says the underground supermarkets have many traits common in traditional economies, with market forces and supply and demand having a direct impact on pricing and criminals advertising bulk rates and dishing out samples to attract buyers.

In the second half of 2007 bank account details were the most frequently advertised items on underground economy servers. The advertised price for bank account data varied as widely, with prices ranging from $10 to $1000, depending on the location and funds available in the account. Bank accounts that included higher balances, such as business accounts, and EU accounts, were advertised for considerably more, says Symantec.

Credit cards were the second most commonly advertised item and online fraudsters were offering 50 credit card numbers for $40 (80 cents apiece) and 500 numbers for $200 (40 cents each). Symantec says this is a decrease from the bulk rates advertised in the first half of 2007, when the lowest purchase price identified was $1 each for 100 cards.

Full identities were the third most common item advertised for sale and the report found that identities of EU citizens are worth more than American ones on the black market because they can be used throughout the union.

The security vendor also recorded a steep rise in the number of computers hosting phishing Web sites in the second half. The firm observed 87,963 phishing hosts during the period, 167% up on the first six months of the year.

Banks again were the most popular target for phishers, with 80% of brands targeted by attacks during the study period in the financial sector.

The financial services sector also accounted for the highest volume of phishing Web sites during this period - 66% - although this is down from the 72% recorded in the previous six months. Symantec says this may be the result of increasing consumer awareness of the threat.

Although six of the top 10 brands spoofed by attackers were in the financial sector, the second most frequently imitated brand was a social networking site.

The firm says that whilst there may be no immediate financial gain from stealing account information from a social networking site, attackers could use the compromised account to gather detailed information about the user.

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

TJX settles with MasterCard over security breach

TJX settles with MasterCard over security breach

03 April 2008  |  7496 views  |  0 comments
Malware used in Hannaford card data theft

Malware used in Hannaford card data theft

31 March 2008  |  6546 views  |  0 comments
Security experts uncover online supermarket for stolen cards

Security experts uncover online supermarket for stolen cards

27 March 2008  |  9552 views  |  0 comments
Phishers target HMRC data loss victims

Phishers target HMRC data loss victims

22 February 2008  |  7690 views  |  0 comments
Phishers targeting company executives

Phishers targeting company executives

31 January 2008  |  11174 views  |  0 comments
Phishers targeting phishers

Phishers targeting phishers

25 January 2008  |  7652 views  |  0 comments
Phishing losses hit $3.2bn in 2007 - Gartner

Phishing losses hit $3.2bn in 2007 - Gartner

17 December 2007  |  12771 views  |  0 comments
US phishers targeting UK customers

US phishers targeting UK customers

18 October 2007  |  7486 views  |  0 comments
US consumers lose billions to online scams

US consumers lose billions to online scams

07 August 2007  |  8984 views  |  0 comments

Related company news

 

Related blogs

Create a blog about this story (membership required)
visit www.response.ncr.comVisit www.capgemini.com/worldreportsvisit www.wavestone-advisors.co.uk

Top topics

Most viewed Most shared
BBVA launches Open API marketplaceBBVA launches Open API marketplace
15134 views comments | 54 tweets | 82 linkedin
Did someone cancel the fintech revolution?Did someone cancel the fintech revolution?
8379 views comments | 32 tweets | 19 linkedin
R3 raises $107mR3 raises $107m
8054 views comments | 17 tweets | 16 linkedin
Digital payments to drive social justiceDigital payments to drive social justice
8015 views comments | 25 tweets | 12 linkedin
Bank of America preps data sharing serviceBank of America preps data sharing service
7974 views comments | 21 tweets | 19 linkedin

Featured job

Six Figure Base + Commission + Stock Options
London

Find your next job