Increase in cybercrime activity sees identity fraud surge as prices drop
The Dark Web sees personal information sold to this day. In 2020, organizations like NASA, McDonald’s, Visa, MasterCard, Microsoft, and Google have experienced security breaches, leading to theft of credit card details, online banking logins, and social media credentials. Later, all this information can be found sold on the Dark Web.
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PrivacyAffairs.com collected hundreds of examples of data being sold and reported the prices on their Dark Web Price Index.
A quick rundown on the information gathered by Privacy Affairs shows that:
- Online banking logins cost an average of $40
- Credit card details including associated data cost $14–$30
- A full range of documents and account details can be obtained at $1,000
- Hacked Facebook account:Â $35
Personal information is used to forge documents such as driver’s licenses, passports, and auto-insurance cards.
Online Banking and Credit Card Information
In the United States, the average annual expense for dealing with cybercrime increased by 29% in 2018, reaching $27.4 million.
Credit card details are sold on the Dark Web from $14–$30, which include the card number, associated dates, and CVV. Personal data such as an address, email, and phone number may also be included.
These details are usually stolen through the credit card processing chain. Hackers can breach company security measures set to handle aspects of credit card processing. They can also steal card information through associated merchants whenever transacting with a card.
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Hacked Crypto Accounts
Dark Web markets contain listings of hacked cryptocurrency trading wallets such as Coinbase, LocalBitcoins, Kraken, Cex, and more.
While it was previously thought that blockchains weren’t prone to hacking, a 2019 report by MIT Technology Review shows that this isn’t the case. That year, an attacker gained control of more than half of Coinbase and rewrote entire transaction histories.
Vigilance Regarding Online Theft
The public needs to be aware that identity theft and other forms of cybercrime are still prevalent.
As the economy becomes more digital, more forms of digital crimes emerge. Now that much of the world is shifting into digitization, people need to be reminded that vigilance is key when it comes to managing the information they share online.
