Posted by: Ken Harthun
Banking Fraud, Cyber-criminal, Cybercrime, Panda Security, spambot
PandaLabs recently issued the results of an investigative report on the current state of the global cybercrime black market: http://press.pandasecurity.com/usa/press-room/panda-white-paper/.
The report provides a “state of the union” of the cybercrime black market in light of its ongoing rapid evolution. The black market has traditionally centered on selling stolen bank and credit card details but diversified its business model in 2010, now selling a much broader range of hacked confidential information including bank credentials, log-ins, passwords, fake credit cards and other valuable data.
Here’s a taste of some of the topics the report covers:
- Average prices for the array of personal data and goods now sold on the black market. For example, PandaLabs found that card cloning machines run typically anywhere from $200-1,000 and fake ATM machines from $3,500 depending on the model;
- What drives up the price of personal information. PandaLabs found that prices are higher for online accounts that have a history of online shopping or use payment platforms such as PayPal. For a simple account without a guaranteed balance, PandaLabs found prices starting at $10 and increasing to $1,500 depending on the platform and the guarantee of available funds;
- How cybercriminals employ modern marketing tactics to run their “businesses”: For example, operators will often offer free ‘trial’ access to stolen bank or credit card details, as well as money back guarantees and free exchanges.