Are you interesting in knowing how much your identity is worth to an identity thief?
According to the annual report on cybercrime, criminals sell digital identity on the dark web for 20 buck –“The price of a pizza.”
Target.com experienced a data breach in 2013. The stolen credit and debit card flooded the underground forums on the dark web.
Over the past few years, millions of people have lost their identities to data fraud. However, the way the data are leveraged for financial gain – remains smoggy. Most often stolen records remain for sale on the secret part of the internet called the “dark web.”
The dark web is a collection of internet stores, forums and chat rooms where online criminals trade tools and services for dangerous activities. It is in this place that cybercriminals sell compromised data such as personally identifiable information, banking details, credit card number and other valuable digits.
Criminals on the dark web only sell verified credit card details – working credit card to buyers. The dark web is similar to eBay as a marketplace, but it is known for selling peoples identification number, birthdays, and address.
According to thousands of records found on Grams – a search engine on the dark web – there are more than 600 listings for individual’s identity including credit card information. The listings typically range from $1 to $450.
Rescator – A forum on the dark web – offers potential buyers an opportunity to search for credit cards by their banks, date, country, and expiring date. It allows buyers to check the validity of stolen cards and issues refunds on cards that don’t work. The site even includes a ZIP code of stores from which the card was stolen. This feature enables buyer to discover the stolen cards of offline nearby stores.
There are many other sophisticated forums, bulletin boards, storefronts and sites on the dark web where people sell illegal goods. They sell it to those that desire it depending on their needs, and how much they are willing to pay for it. All it takes is a simple web search to get started.
Sites that engage in data breaches are called “Carder sites” – where you can obtain millions of stolen cards from target and home depot. Data breaches are frequent in Brazil, Argentina, Canada, and U.K. The mass exploration of stolen cards devalued the price for individual identities. The online black market makes it easier, cheaper and quicker for criminals to commit crimes while remaining anonymous.
The mystery behind the online black marketplace is alarming. The dark web is filled with illegal and disturbing activities. Law enforcement agencies are responsible for monitoring these forums and stores. They are responsible for the online safety of web surfers. However, the law enforcement activities hardly work in protecting people’s identity. The centralized model has failed to protect people’s data. A decentralized model remains the only way to protect your data from cybercriminals.
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