The dark web is a clandestine online network that operates beneath the surface of the internet. It is a hub for illegal activities, providing a breeding ground for cybercriminals to engage in various nefarious practices. One such prevalent and concerning activity is the trade of stolen credit card numbers.
Exploring the Dark Web
When we talk about the dark web, it’s important to understand that it is not accessible through traditional search engines like Google or Bing. Instead, specialized software such as Tor is required to access this hidden part of the internet. Tor allows users to browse anonymously, hiding their IP addresses and making it extremely difficult for law enforcement agencies to track their activities.
Within the dark web lurks numerous illicit marketplaces where stolen credit card numbers are frequently traded. These marketplaces function similar to legitimate e-commerce platforms, with sellers offering a wide range of stolen financial information.
This should come as no surprise considering most credit card theft happens through online means, and internet users are spread far and wide throughout the whole United States. Flashpoint partners with financial institutions of all sizes to address card fraud threats, including many of the top global banks. Flashpoint’s Card Fraud solutions equip security teams with the tools, dashboards, alerts, and actionable intelligence they need to proactively identify threats, prevent card fraud, and take action to combat exposure to risk.
What Is Email Spoofing, and How Can You Protect Yourself?
The Trade in Stolen Credit Card Numbers
Virtual gift cards make this easy for criminals to collect stolen goods when they are nowhere in the vicinity of their victim. If actual goods are purchased, the packages are often stolen from the recipients by porch pirates or shipped to an address that is hard to track. Cybercriminals (crooks who operate online) may use a technique called phishing to trick people into voluntarily giving up their credit card or banking information in droves.
For cybercriminals, stolen credit card numbers are a lucrative commodity. These stolen digits can be used to make fraudulent purchases, finance criminal operations, or sold to interested buyers on the dark web. The demand for such information remains high, despite continuous efforts by security agencies to crack down on these illegal activities.
The process usually begins with hackers breaching databases of unsuspecting individuals, stealing their credit card details. These ill-gotten gains are then listed on the dark web marketplaces, where interested parties can purchase them using cryptocurrencies, ensuring an additional layer of anonymity.
However, it is crucial to note that engaging in any form of illegal activity, including purchasing stolen credit card numbers, is strictly against the law and punishable by severe penalties.
The Implications for Individuals and Businesses
Evolving your Partner Model to Adapt to a Changing Payments Landscape
As an individual, falling victim to credit card fraud can have devastating consequences. Not only could it result in financial losses, but it may also damage your credit score and reputation. Moreover, victims often find themselves entangled in lengthy and frustrating legal battles to rectify the situation.
Businesses are not exempt from the dangers posed by stolen credit card numbers either. They often bear the brunt of fraudulent transactions made using compromised cards, leading to substantial financial losses and potential damage to their brand image.
Protecting Yourself from Credit Card Fraud on the Dark Web
In a world where cyber threats are ever-evolving, staying vigilant is crucial. To protect yourself from credit card fraud on the dark web:
- Regularly monitor your bank statements: Keep a close eye on your financial transactions to identify any suspicious activities promptly.
- Use strong, unique passwords: Avoid reusing passwords across multiple platforms and consider using password managers to enhance security.
- Enable two-factor authentication (2FA): Adding an extra layer of security greatly reduces the chances of unauthorized access to your accounts.
- Be cautious with online transactions: Only make purchases from reputable websites and refrain from sharing sensitive information on unsecured platforms.
Below are 10 steps you can take if you’re a victim of online credit card fraud. It can be tempting to save your credit card information on Google or at e-commerce sites you frequent. However, you should consider avoiding this practice, as it potentially provides hackers with access to your personal information in the case of a data breach. Credit monitoring and identity security services such as LifeLock keep you up to date on your credit card activity. They can also help get you ahead of any fraudulent activity faster than if you were manually checking your statements. Forums experienced the second highest level of activity, accounting for 16.5% of Dark Web threats in our sample.
Tentacles of ‘0ktapus’ Threat Group Victimize 130 Firms
Remember, prevention is always better than cure when it comes to credit card fraud.
Final Thoughts
Then once the scanner found the computer on the internet was running Remote Desktop, they would then attempt to brute force login to it by cycling through thousands of commonly-used usernames and passwords. Then if the password had been guessed correctly, the hacker can access the computer as if they were sitting right in front of it. This is a sloppy, noisy, and easy way to hack into computers but it seemed to be working.
The dark web continues to serve as a haven for cybercriminals seeking stolen credit card numbers and other illicit activities. It is essential for individuals and businesses to remain vigilant and take proactive measures to protect themselves from falling victim to credit card fraud. By staying informed and adopting robust security practices, we can make it increasingly challenging for these criminals to operate within the shadows of the dark web.
