If a gift card order is not accepted, repeat the warming-up (the previous step) after 5-10 minutes. Even if the previous step was already in the new phase of the final stage of fraud, the fraudster could come back to warm up if a payment wasn’t successful. In this case, they enter an e-shop site directly, not through any link. They have to use a shop domain that matches the country of origin of the stolen data. Here, a thief will take advantage of an understaffed store to take apart a credit card reader and insert a skimmer device.
Understanding Stolen Credit Card Numbers on the Dark Web
By collecting hundreds of data points, the best-in-class fraud prevention solutions spot and stop fraudulent activity without blocking legitimate customers from making a purchase. In order to make this scam profitable, the bad guys have to test the credit card numbers. This is often done by using botnets to test multiple card numbers at a time, instead of entering this information by hand. One of the oldest tricks in the book for collecting credit card information is to use a card skimmer on a point-of-sale (POS) terminal in a retail location.
Criminal syndicates will trade skills and purloined data on the dark net to cause as much damage as possible. NordVPN found that most of the sensitive financial information traded on the dark web was harvested via brute-forcing. Brute-force technique is often used to guess passwords and penetrate targeted accounts. The passwords are guessed using dictionaries or common word combinations. The researcher’s revealed hackers have discovered a way to find card numbers without breaking into a database, and there’s also a booming underground black market for them. Privacy is a BBB®-accredited company with a dedicated customer support team.
Some 49% came from Visa cards, 36% from Mastercard, 13% from American Express and 2.5% from Discover. Further, stolen cards with the CVV numbers may also include the user’s address, email and other sensitive information that can be used for identity fraud and account takeovers. By using the dark web, Osagie was able to recruit and manage other co-conspirators, who played various roles in the fraud.
They can do it using a stolen credit card or payment method pinned to a stolen account. As was previously mentioned, the success of this fraudulent action relies on the previous phases – gathering proper resources, configuration and warming-up the website. If this final step doesn’t work, a fraudster can return to the previous phase – for example, they can make another warming-up attempt but more extensively and lasting much longer. Second, merchants lose the revenue from the transaction and have to deal with the lost value of their goods, the lost cost of shipping, and potential chargeback fees from the bank. Merchants may even be assessed fees from their credit companies if they experience excessive amounts of fraud.
The data was compiled in partnership with independent researchers specializing in cybersecurity incident research. They evaluated eight key marketplaces on the dark web to retrieve the details of over 6 million cards. The data NordVPN received from these third-party researchers did not contain any information that relates to an identified or identifiable individual (such as names, contact information, or other personal information). The study did not determine the exact number or analyze the entirety of payment card details sold on the whole of the dark web — NordVPN only examined the set of statistical data provided by independent researchers. The dark web is brimming with stolen credit card numbers and email passwords, and while these may be invaluable to you, in actuality these are sold for chump change.
Once fraud is detected, a business must act immediately by contacting any customers who may have been impacted and contacting the payment processor to report the fraud. If the fraud involves multiple customers, notify them as soon as possible to inform them of the situation and to provide guidance on how to protect their personal and financial information. Use a service, like Flare, that allows you to monitor the dark web for any mentions of your organization’s information, including business credit card numbers. Flare, for example, enables you to automatically scan the clear & dark web for any leaked or stolen account credentials. By doing this, you can find your credentials for sale on the dark web and secure them before they are exploited.
The internet is a vast landscape, and within it lies the dark web, a realm where illicit activities flourish, including the trade of stolen credit card numbers.
What is the Dark Web?
The dark web is a part of the internet that is not indexed by traditional search engines. It requires specific software, configurations, or authorization to access. The dark web is often portrayed as a hub for illegal activities, and one of the most common illicit items traded is stolen credit card numbers.
How are Credit Card Numbers Stolen?
Credit card numbers can be compromised through various methods, including:
CISOs Redefined: External Threats, A Catalyst For Holistic Cybersecurity In 2024
- Phishing Scams: Fraudulent emails or websites trick users into providing their card details.
- Skimming Devices: These devices capture card information when users swipe their cards at ATMs or point-of-sale terminals.
- Data Breaches: Companies that store credit card information may suffer security breaches, leading to mass data theft.
- Malware: Cybercriminals use malware to access sensitive information on victims’ devices.
The Marketplace for Stolen Credit Card Numbers
Once stolen, credit card numbers are often sold on the dark web through various online marketplaces that operate similarly to traditional e-commerce sites.
These marketplaces feature:
- Vendor Ratings: Just like eBay or Amazon, buyers can assess the reputation of sellers.
- Product Listings: Stolen credit card numbers are listed alongside descriptions, prices, and expiration dates.
- Bulk Sales: Some vendors offer discounts for purchasing large quantities of stolen card data.
Why is the Dark Web a Concern for Consumers?
The presence of stolen credit card numbers on the dark web poses significant risks for consumers, including:
- Identity Theft: Fraudsters can use stolen information to impersonate victims.
- Financial Loss: Unauthorized transactions can lead to substantial monetary losses.
- Impact on Credit Score: Fraud can damage individuals’ credit ratings, affecting future borrowing.
What to Do If Your Credit Card Information is Compromised
In the event that you suspect your credit card information has been stolen, investigate promptly:
- Contact Your Bank: Notify your bank or card issuer to report fraudulent activities.
- Change Passwords: Update passwords for any accounts where your card information is stored.
- Monitor Statements: Regularly check your bank statements for unauthorized transactions.
- Consider a Credit Freeze: Implement a credit freeze to prevent new accounts from being opened in your name.
- Credit card fraud is a form of identity theft where someone uses your credit card details to make unauthorized purchases or opens new credit accounts in your name.
- Signup for PureVPN to get complete online security and privacy with a hidden IP address and encrypted internet traffic.
- The buyers must move quickly, too, before consumers notice fraud charges and call their banks to cancel the cards.
- The carder then uses that gift card to purchase high value goods, usually electronics such as cell phones, computers and game consoles.
- Another similar website did the same thing back in August 2021, releasing the details on more than a million credit cards on a number of hacking forums.
FAQs About Stolen Credit Card Numbers on the Dark Web
Q: How can I tell if my credit card has been compromised?
A: Monitor your bank statements for unfamiliar transactions, and sign up for alerts from your bank regarding suspicious activities.
Q: Can I recover lost funds from stolen credit card numbers?
A: In many cases, victims can recover funds, but it often requires reporting the theft and cooperating with investigations.
Q: What measures can I take to protect my credit card information?
A: Use strong passwords, enable two-factor authentication, and be cautious of phishing attempts.
Conclusion
The trade of stolen credit card numbers on the dark web remains an ongoing challenge for consumers and financial institutions. Awareness and proactive measures can significantly reduce the risk of becoming a victim of this illicit activity.
