September 28, 2010

• You Would Be Surprised To Know, Pt.2
     The path to the black market.

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  Ok, so now that the debit or credit card thief, or cybercriminals, have the cardholder's data, what is it that he/she does with it. After all, it would take some doing and time to defraud a large number of cardholders. Typically, computer hackers don't make their money by going out and spending the limit on a credit card or draining a debit card account. Cybercriminals, make their money from the sales of debit and credit card information. The problem has become so wide spread that black market networks exist on the internet that list the card numbers for sale. Another thief visits these black market sites, purchases the stolen card information. Often the thief will use the card information for their own personal use or they'll use the information to manufacture several counterfeit cards for future sale.

  Although the U.S. have uncovered some very sophisticated debit and credit card fraud rings here in the United States, there appears to be an even higher presence in countries overseas. China, Russia, and Mid-East Countries appear to be particularly vulnerable; however, no nation has gone untouched. Cardholders should take special precautions when using the internet and understand that the possibility of debit or credit card theft does not only occur during the purchasing process but rather other vulnerabilities exist as well.

  Emails are particularly dangerous. You can protect yourself and your company by taking care in opening emails. If you are a business owner, you should train employees with these same precautions. First, never open emails from anyone you don't know. Delete them immediately. Next, don't ever respond to an email that appears to be from a trusted source such as your bank or credit card company. Thieves are very clever in designing fake websites that look like your bank or insurance company; however; only serve to capture sign-on information and passwords. Always go to your regular established link before signing on or call your bank.

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