- Connect with us:
- |
- |
- RSS
- |
- Newsletter
-
Lacunas of Online Economy|
- By CXOtoday Staff, Dec 04, 2008 1328 hrs IST
-
A study conducted by Symantec's security technology reports the value of goods and services marketed in the underground economy servers and channels to be $276 million during 2007-2008. This value was determined using the advertised prices of goods and services on liquidating their inventory.
Cyber criminals use criminal acts such as phising that employ social engineering and e-mail spoofing to trick netizens by gathering their personal and financial information from recipients. Once the personal information is gathered, cyber criminals use these identity for activities such as obtaining credit cards, applying for loans, to obtain expensive medical and can even stealing house titles.
Shantanu Ghosh, VP of product operations for Symantec India said, Stolen credit card numbers sell for as little as $0.10 (ten cents) to $25 per card and the potential value of all credit cards advertised during the reporting period was $5.3 billion.
The second category of information stolen by cyber criminals is user s financial account. According to the report, stolen bank account information is sold between $10 and $1,000. The report said the popularity of financial account information is due to its potential for high payouts and the speed at which payouts can be made.
The report detailed that the online underground economy has matured into an efficient global marketplace with North America having the largest number of underground economy servers and accounted for 45% of the total underground economy. This was followed by Europe/Middle East/Africa (EMEA) with 38%, Asia-Pacific-Japan (A-PJ) 12% and Latin America 5 %.
Related Links:
eCommerce Solutions for Enterprise Users
-
Discussion Board
- Write a message
