Stolen Data So Plentiful, The Market For It Has Collapsed

from the valid-credit-cards?-sorry,-don't-need-any-more dept

There are so many data leaks these days that it's hardly even newsworthy every time some company reveals your social security number and credit card. However, would you believe that it's also impacting the economics for fraudsters? Matt Bennett alerts us to the news that the price of fraudulently obtained data is falling through the floor thanks to the glut of it on the market. There are so many collections of credit cards or bank account numbers that the crooks who are buying them are buying them in bigger batches at greatly deflated prices. By the way, the falling dollar has impacted this as well: European identity data is worth a lot more than American identity data. So, I guess there's that to be thankful for.
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Filed Under: data leaks, identity fraud, security, supply and demand


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  1. icon
    chris (profile), 10 Apr 2008 @ 6:27am

    data leakage is nothing

    "sensitive" data gets leaked all the time. no one cares, least of all the companies that do the leaking.

    90% of these leaks are lost/stolen laptops and USB memory sticks and everyone is immediately aware of the issue because the device is missing. what if the device was not stolen, but changed in some way?

    what i am waiting to see is a situation where data is not stolen, but changed in some way that is not immediately obvious, like lowering everyone's grades by 3 points at a college, or changing all the blood types at a hospital, or cutting everyone's credit scores in half.

    right now, we are all used to seeing obvious failures. what do you do when the failure isn't obvious?

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