Increase in cybercrime activity sees identity fraud surge as prices drop

Personal information is still being sold on the Dark Web to this day. In 2020 and 2021, several major companies have suffered security breaches that led to thefts of online banking logins, credit card details, and social media credentials. After a quick search, this information could be found on the Dark Web, with a price tag on it.

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PrivacyAffairs.com has compiled a Dark Web Price Index with hundreds of real-life examples of stolen data that was sold on the Dark Web.

This is what the Privacy Affairs data shows:

• Credit card details with its associated information cost between $14-$30
• A hacked Facebook account went for $35
• Online banking login information costs $40
• A complete set of account details and documents could be bought for $1,015

As a reminder, this type of personal information is often used to forge documents such as passports, driver’s license, and auto-insurance cards.

Credit Card and Online Banking Information

The United States has seen an increase in annual cybercrime expenses of 29% in 2018, reaching a total of $27.4M.

Buying credit card details on the Dark Web for $14-$30 will get you the CVV number, card number, associated dates, and maybe even the email, physical address, and phone number.

Such information is obtained when the cybercriminals go through the credit card processing chain. They override the company security countermeasures established to manage various aspects of credit card processing. Hackers can even steal credit card information via card transactions, through the associated merchants.

Hijacked Crypto Accounts

Renowned cryptocurrency trading platforms and wallets like LocalBitcoins, Cex, Kraken, and Coinbase are also sweet spots for hackers. The Dark Web contains many listings from these crypto sites.

Previously, it was thought that crypto blockchains were impervious to hacking attempts, but a recent 2019 report by MIT Technology Review disagrees. Indeed, in 2019, a hacker partially hijacked Coinbase and messed with entire transaction histories.

Precaution Concerning Online Theft

Everyone should know that identity theft and other types of cybercrime are still a real threat to their livelihoods.

With the digitalization of the economy comes a destructive wave of digital crimes. When most of the world is digitalized, individuals need to take even more precaution when sharing information online.

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