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If criminals were to sell the six million cards analyzed for the study, NordVPN estimates they could net more than $18.5 million. The sunsetting comes exactly a year after Joker’s Stash, the previous market leader, announced its retirement in January 2021 after having facilitated the sale of nearly $400 million in stolen cards. The demise of Joker’s Stash worked to UniCC’s benefit, which quickly snapped up the top spot with a 30% market share, the researchers noted. Avoid relying on the same passwords across different websites and services. Instead, use a password manager to create complex and unique passwords for each account. Then enable multi-factor authentication to further protect your accounts from compromise.
With the rise of technology and online shopping, credit card fraud has become a prevalent issue affecting millions of people worldwide. It’s no secret that cybercriminals are constantly finding new ways to exploit vulnerabilities in our digital lives. One such method is the illegal trade of stolen credit card numbers on the dark web.
The Dark Web: A Breeding Ground for Cybercrime
Weekly Cybersecurity Recap November 24
The dark web refers to the hidden part of the internet that cannot be accessed through traditional search engines. It provides users with anonymity, making it an attractive hub for illegal activities. While not all activities on the dark web are sinister, many involve criminal acts such as drug trafficking, identity theft, and the sale of stolen credit card information.
The Risk to Your Finances
The retail sector is highly targeted because it presents an easy target with relatively weak security, and a wide variety of companies to attack. Defrauding an online retailer is a low risk, high reward attack, and there’s certainly no deficiency in credit card data available. In fact, IntSights has seen an 149% year-over-year increase in stolen credit card data for sale on the dark web. Retailers are not equipped to investigate every fraud attempt, so attackers have very little fear that the police will come knocking on their door. Whether it’s buying fancy clothes, shoes or watches to sell later, or selling dumps of credit card data, when there’s an opportunity to make money, cybercriminals will flock.
Prioritizing Business Cybersecurity Plans During Mergers and Acquisitions
Stolen credit card numbers are a hot commodity on the dark web. Cybercriminals sell or buy these stolen credentials to carry out fraudulent transactions, often leading to significant financial losses for innocent victims. Once your credit card details fall into the wrong hands, they can be used for unauthorized purchases, cash withdrawals, or even sold to other criminals.
It’s important to understand that this illicit trade affects individuals and businesses alike.
With identity monitoring through McAfee Identity Protection, you’ll receive notifications if we find your personal information on the dark web. Our extensive monitoring service keeps tabs on up to 60 unique types of personal data and can notify you up to 10 months sooner than similar services. Plus, you get peace of mind with up to $1 million of ID theft coverage and hands-on restoration support to help reclaim your identity after identity theft.
Protect Against Business Logic Abuse
The Techniques Used
These cybercriminals employ various techniques to obtain credit card details. One common method is through data breaches, where hackers infiltrate databases of companies storing customer information. These stolen credit card numbers are then sold on the dark web to interested buyers.
Remember, even if you exercise caution while sharing your credit card details online, your information may still end up on the dark web due to a breach at a company you trust.
If you’re connecting to any public networks, it’s helpful to use a VPN to protect yourself from malware and hackers. Not to mention, antivirus software can protect you if you accidentally download harmful malware. If security risk is a function of cyber threats exploiting security weaknesses to cause harm, we believe that taking care of your vulnerabilities is the only factor firmly within your control. The operation is thought to have begun in March of last year, and the Russian hackers likely had access from May, but wide-ranging access to the telecoms provider’s full network was established by November.
Don’t provide your credit card details over the phone
Protecting Yourself
- The key to safeguarding your credit card information from fraudsters is to stay proactive and on top of your accounts.
- The amount of stolen credit card numbers on the dark web tripled from July to December, compared to the first six months of 2019, according to cybersecurity firm Sixgill.
- If you throw your statements or old cards into the recycling, they’re there for the plundering by someone with ill intentions, so you should always cut up your expired cards thoroughly and tear your statements into scrap paper.
- According to Verizon’s “2023 Data Breach Investigations Report,” personal data was taken in more than 50% of 5,010 confirmed breaches that occurred from November 2021 through October 2022.
While the dark web seems daunting, there are steps you can take to protect yourself from becoming a victim of credit card fraud:
However the Silk Road had somewhat of a code of ethics, as certain products were restricted from sale such as pornography, weapons, personal data (stolen credit cards, passwords etc), poisons, or weapons. If a threat actor is in possession of a large number of card numbers or bank logs, it is common for them to offload the ones they may not be able to timely access to sell this information on card shops, account shops, or forums. Financial information especially is consistently valuable in these marketplaces, as the potential for financial reward is often much higher than the purchase price. Card cloning refers to software that threat actors use to activate stolen financial information via a physical card. Threat actors will copy this stolen information onto a physical card, which can then be used to withdraw cash at ATMs.
- Regularly monitor your financial statements: Keep a close eye on your credit card statements and bank transactions. Report any suspicious activity immediately.
- Use strong and unique passwords: Ensure that each online account has a strong password that is not easily guessable. Consider using a reputable password manager to safeguard all your credentials.
- Enable two-factor authentication (2FA): Whenever possible, activate 2FA for your online accounts. This adds an extra layer of security by requiring a verification code in addition to your password.
- Be cautious with sharing personal information: Avoid providing sensitive information unnecessarily, especially on unsecured websites or suspicious emails.
- Regularly check your credit reports: Obtain your credit report from reputable agencies to identify any unauthorized activity. Keep a record of your credit history for quick reference.
By following these steps, you can minimize the risk of falling victim to credit card fraud.
Conclusion
In today’s digital age, it is crucial to stay informed about the dangers lurking on the dark web. Cybercriminals are constantly adapting their methods to steal credit card information, leading to devastating consequences for individuals and businesses alike. Protect yourself by remaining vigilant, implementing strong security measures, and taking immediate action if you suspect any fraudulent activity.
Regularly Updating Security Measures
Remember, prevention is key when it comes to safeguarding your finances from the illegal trade of stolen credit card numbers on the dark web.
