Language Selection

English French German Italian Portuguese Spanish

Black Market in Stolen Credit Cards

Filed under
Security
Web

"Want drive fast cars?" asks an advertisement, in broken English, atop the Web site iaaca.com. "Want live in premium hotels? Want own beautiful girls? It's possible with dumps from Zo0mer." A "dump," in the blunt vernacular of a relentlessly flourishing online black market, is a credit card number. And what Zo0mer is peddling is stolen account information - name, billing address, phone - for Gold Visa cards and MasterCards at $100 apiece.

It is not clear whether any data stolen from CardSystems Solutions, the payment processor reported on Friday to have exposed 40 million credit card accounts to possible theft, has entered this black market. But law enforcement officials and security experts say it is a safe bet that the data will eventually be peddled at sites like iaaca.com - its very name a swaggering shorthand for International Association for the Advancement of Criminal Activity.

For despite years of security improvements and tougher, more coordinated law enforcement efforts, the information that criminals siphon - credit card and bank account numbers, and whole buckets of raw consumer information - is boldly hawked on the Internet. The data's value arises from its ready conversion into online purchases, counterfeit card manufacture, or more elaborate identity-theft schemes.

The online trade in credit card and bank account numbers, as well as other raw consumer information, is highly structured. There are buyers and sellers, intermediaries and even service industries. The players come from all over the world, but most of the Web sites where they meet are run from computer servers in the former Soviet Union, making them difficult to police.

Traders quickly earn titles, ratings and reputations for the quality of the goods they deliver - quality that also determines prices. And a wealth of institutional knowledge and shared wisdom is doled out to newcomers seeking entry into the market, like how to move payments and the best time of month to crack an account.
The Federal Trade Commission estimates that roughly 10 million Americans have their personal information pilfered and misused in some way or another every year, costing consumers $5 billion and businesses $48 billion annually.

Full Story.

More in Tux Machines

New Releases

Notifications Without User Interaction on Ubuntu Are Annoying

The Unity desktop environment has a simple and rather ineffective system notification mechanism and it looks like that's not going to change, not even with the arrival of Unity 8. Read more

Librem Linux Laptop Drops NVIDIA Graphics But Still Coming Up Short Of Goal

One of the oddest things I found about the crowd-funded Librem 15 laptop when writing about it last month was that it wanted to be open-source down to the component firmware/microcode yet they opted to ship with a NVIDIA GPU. In an updated earlier this month, at least they came to their senses and dropped the discrete NVIDIA GPU. While I have no problems recommending NVIDIA graphics for Linux gamers and those wanting the best performance, that's only when using the proprietary drivers, and certainly wouldn't recommend it for a fully open-source system -- NVIDIA on the desktop side doesn't do much for the open-source drivers, let alone down to the firmware/microcode level. Instead the Librem folks have opted to upgrade the design to using an Intel Core i7 4770HQ processor that features more powerful Intel Iris Pro 5200 Graphics, which isn't as powerful as a discrete NVIDIA GPU but at least is more open-source friendly. Read more

Ruby 2.2.0 Released

We are pleased to announce the release of Ruby 2.2.0. Ruby 2.2 includes many new features and improvements for the increasingly diverse and expanding demands for Ruby. Read more