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"Credit card details being sold for just four pence"

By admin | October 30th, 2009 | Credit Cards

According to a recent report some criminals that commit credit card fraud and identity theft are selling peoples’ credit card details for as little as just four pence a shot.

Officials have said that an online black market is being used by the criminals to sell the credit card details that they have stolen, and in some cases all it will cost of someone to get their hands on the card details of a consumer is four pence.

Research has shown that these rock bottom prices that are being charged by the cybercriminals are making it increasingly easy for those that want to use another person’s credit card and steal their identity.

The Internet has given rise to a new breed of criminals that steal account details and identities, and many of these trade account details, personal details, and contact details of people for a matter of a few pennies. One report claimed that it was possible to buy a full identity for just £45.

One industry official said: “The majority of us use the internet, but there is a very real and growing criminal underworld we are often not aware of. We need to do more to protect ourselves from these online perils, especially as national police forces find it dauntingly hard to stop cybercriminals from operating from other countries.”

Another said that phishing scams are quite common, and that people often fall for these, stating: “These usually ask for confirmation of account information and can seem very legitimate, perhaps featuring your bank’s logo.”

One professor said that these criminals were becoming increasingly sophisticated and innovative with regards to how they commited their crimes, stating: “The crime window is now much shorter than it was and criminals are becoming very innovative, constantly seeking novel new ways to defraud people.”

Tags: credit card details, credit card fraud, personal information

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