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In today’s digital age, cybercrime is becoming increasingly prevalent. One of the most common forms of cybercrime is the theft and sale of credit card numbers on the dark web. Criminals use sophisticated methods to obtain these numbers, which can lead to financial ruin for unsuspecting individuals.
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What is the Dark Web?
The dark web is a hidden part of the internet that is not indexed by traditional search engines. It is often associated with illegal activities such as drug trafficking, weapons sales, and stolen data markets.
How are Credit Card Numbers Stolen?
BBC News Services
Criminals use various methods to steal credit card numbers, including phishing scams, malware, and data breaches. Once they have obtained these numbers, they sell them on the dark web to other criminals who use them to make fraudulent purchases.
Are There Strange Purchases On Your Credit Card Statement?
What are the Dangers of Stolen Credit Card Numbers?
- Financial Loss: Victims of credit card fraud can face significant financial losses as their accounts are drained by unauthorized transactions.
- Identity Theft: Criminals who have access to stolen credit card numbers can also use this information to commit identity theft, opening new accounts or taking out loans in the victim’s name.
- Legal Troubles: In some cases, victims of credit card fraud may be held responsible for the fraudulent charges if they are unable to prove that they did not make the purchases.
The cybercriminal installs a small device, known as a “skimmer,” on credit card reachers, such as the ones you see at retail stores, ATMs, or gas stations. The installed device reads the magnetic stripe on the card with the cardholder’s information and sends it to the cybercriminal. While the dark web can also be a secure place for us to access information and communicate with one another, it’s often used by vendors of illegal goods and services. The most common illicit items on the dark web include firearms, drugs, and credit card information. This month, U.S. authorities shut down a popular Russian platform, Try2Check, used to confirm the legitimacy of stolen credit card information.
“These people have little tolerance for being ripped off, scammed, or frauded,” Wright said. “If a card is being used by multiple criminals, it is more likely to be flagged for fraudulent behavior and shut off. Nothing kills a criminal business faster than accusations of scams and poor results.” When Torrez closed in December it was one of the largest English-language marketplaces in the world selling drugs, hacking tools, counterfeit cash and criminal services. That merchant specifically mentioned that using a stolen card on a store that uses Verified by Visa (VBV) will likely void the card. Verified by Visa is a service that prompts the cardholder for a one-time password whenever their card is used at participating stores.
- Not just criminals, but also the banks themselves, according to dark web analysts.
- The hackers are from the same group who are behind the Tokopedia data breach, in which 91 million user records were compromised and kept on sale on the hacking forums for $5,000.
- You can also share your virtual card details with family members without revealing your underlying bank information.
- CNP fraud is expected to comprise 74.0% of this year’s card payment fraud losses, totaling over $10.16 billion.
- The credit card numbers that work are recorded, and the ones that don’t are (presumably) discarded.
- The free search checks for your email addresses, phone numbers, and social security number.
How to Protect Yourself
There are several steps you can take to protect yourself from falling victim to credit card fraud on the dark web:
- Monitor your accounts regularly to detect any unauthorized transactions.
- Use strong, unique passwords for all of your online accounts to prevent unauthorized access.
- Avoid clicking on suspicious links or providing personal information to unknown sources.
- Consider using a credit monitoring service to alert you to any suspicious activity on your accounts.
Bitcoin, Monero, and other privacy-focused cryptocurrencies are commonly used due to their pseudonymous nature. The use of cryptocurrency adds an additional layer of complexity for law enforcement agencies attempting to track and apprehend those involved in the illegal trade of credit card details. Social engineering is another popular method to collect credit card information. We are used to seeing phishing pages harvest login credentials but credit card collection using phishing links is just as common. They can also credit card information by pretending to be a shopping site or a fake support site. They can also simply call the victims and pretend to be an authority or a vendor while they ask for payment card details.
By staying vigilant and taking proactive steps to protect your financial information, you can reduce the risk of falling victim to credit card fraud on the dark web.
