The dark web is a part of the internet that is intentionally hidden and is inaccessible through standard web browsers. It is often associated with illegal activities, including the sale of stolen credit card information.
They’re often one page with a predictable set of fields, unlike a retailer’s multi-step payment process. Bots are programmed to read the fields on the page and quickly submit thousands of transaction attempts with stolen payment information – almost instantly. These transactions are usually in small denominations of $1, $2, or $5 – which isn’t quickly detected by the organization because nonprofits often receive many small donations on their pages.
How Credit Card Information is Stolen
Credit card information can be stolen in a variety of ways, including data breaches, phishing scams, and card skimming. Once the information is stolen, it can be sold on the dark web to criminals who will use it for fraudulent purchases or to create counterfeit cards.
- For example, the February 2023 post below from a popular cybercrime forum garnered 12 responses.
- Malta, Australia, and New Zealand came at the top of the risk index, with the U.S. closely following in 5th place.
- The attackers are able to pull this off because the digits on most cards follow a fixed pattern, and can be deduced.
- Over 62,000 were Australian credit cards, followed by over 29,000 from China.
Data Breaches
Data breaches occur when hackers gain unauthorized access to a company’s computer system and steal sensitive information, such as credit card numbers. Large retailers, hotels, and financial institutions are common targets for data breaches.
Mailing Address
And fraud prevention is built into their business, such as issuing cards with security chips and verification codes, for example. “The higher the amount that can be stolen, the more expensive the purchase. Additionally, the price correlates to how easy it is to access the bank account as some banks might not be easier for a criminal to fool,” it said. 2The giveaway contained roughly 8 million lines, with 6,600 of them covering credit card information, mostly from U.S.-based VISA credit cards. And unlike the other layers of the web, the dark web can’t be seen from normal web browsers. Dark web users are anonymous, and their activity and IP addresses aren’t tracked.
Phishing Scams
Phishing scams are emails or text messages that appear to be from a legitimate company, but are actually sent by criminals. The messages often contain a link that, when clicked, will install malware on the user’s computer or direct them to a fake website where they are prompted to enter their credit card information.
Darkweb Market BidenCash Gives Away 12 Million Credit Cards For Free
At a minimum this breach cost each of these small businesses $20,000 and some much higher. Then to top it all off, if the story got out, customers would stop coming in fear of getting their card stolen. The Broadway Grill in Seattle had just changed ownership right before this hack and this was a major setback for the new owners. They spent tens of thousands of dollars to fix the security issues on their systems. They also felt a big hit from customers who were afraid to come use their credit cards there.
Card Skimming
Card skimming is the act of stealing credit card information by attaching a small device to an ATM or payment terminal. The device captures the information from the card’s magnetic strip when it is inserted into the machine.
However, delving into the Dark Web comes with significant risks and challenges. Buyers must navigate through a labyrinth of fraudulent sellers and law enforcement operations targeting illegal marketplaces. It is crucial to exercise caution and take protective measures to safeguard personal information. “Even though the biggest number of card details found for sale were from these 3 countries, this doesn’t mean that they are the most vulnerable,” said the release was issued under the company’s NordVPN software brand. “The vulnerability depends on factors like the proportion of non-refundable cards (if a card is refundable, the owner can be reimbursed in case of being scammed).” Over 23 million credit and debit cards were on offer in underground forums in the first half of 2019, researchers claim.
How Credit Card Information is Sold on the Dark Web
Hawaiians And Patients Exposed By Health Network Cyberattack
Once credit card information is stolen, it is often sold on the dark web in online marketplaces. These marketplaces are typically accessed through the Tor network, which allows users to browse the internet anonymously. The stolen credit card information is usually sold in bundles, with each bundle containing the information for multiple cards.
Identity theft and fraud protection for your finances, personal info, and devices. Experian websites have been designed to support modern, up-to-date internet browsers. If you are currently using a non-supported browser your experience may not be optimal, you may experience rendering issues, and you may be exposed to potential security risks. It is recommended that you upgrade to the most recent browser version. The Experian Smart Money™ Debit Card is issued by Community Federal Savings Bank (CFSB), pursuant to a license from Mastercard International.
Prices
The price of stolen credit card information on the dark web varies depending on several factors, including the card’s credit limit, the amount of information available, and the country in which the card was issued. On average, a single stolen credit card number can sell for anywhere from $5 to $50.
Payment Methods
Payment for stolen credit card information on the dark web is typically made using cryptocurrencies, such as Bitcoin. This allows buyers and sellers to remain anonymous and makes it difficult for law enforcement to trace the transactions.
Protecting Your Credit Card Information
There are several steps you can take to protect your credit card information from being stolen and sold on the dark web:
- Use a credit card instead of a debit card for online purchases. Credit card companies typically offer better fraud protection than debit card companies.
- Monitor your credit card statements regularly for suspicious activity.
- Use a virtual private network (VPN) when accessing public Wi-Fi networks.
- Avoid clicking on links in unsolicited emails or text messages.
- Use strong, unique passwords for all of your online accounts.
- Consider freezing your credit report to prevent anyone from opening new accounts in your name.
Conclusion
The dark web is a hotbed for illegal activities, including the sale of stolen credit card information. By taking steps to protect your credit card information and staying vigilant, you can reduce the risk of becoming a victim of credit card fraud.
