This information comes from infected devices, like smartphones and laptops, that allow access remotely to obtain user passwords or other personal data. Award-winning identity theft protection with AI-powered digital security tools, 24/7 White Glove support, and more. The media often highlight new attacks, but most cards are stolen through old-school methods like breaches and phishing. To protect yourself from credit card theft and fraud, be careful and be covered.
Major data breaches
In today’s digital age, cybercrime is on the rise and one of the most common forms of online fraud is the theft of credit card numbers. These stolen credit card numbers often end up on the dark web, a hidden part of the internet where illegal activities thrive.
This form of fraud could be another driving factor behind the increase in “card not present” fraud reported by NCR. However, “card not present” fraud increased during that time period, going from $3.4 billion to $4.57 billion. Based on the FCBA, you will only be liable for up to $50 if you report the fraudulent transaction within 60 days of the charge. Payment card info is one of the most widespread items for sale on the online black market these days, especially given the global explosion in popularity.
Solutions for fraud teams: How to identify threats, reduce risk, and take action after breaches
What are Stolen Credit Card Numbers?
Stolen credit card numbers are obtained through various means such as data breaches, phishing scams, or malware attacks. Once in the hands of cybercriminals, these numbers can be used for fraudulent purchases, identity theft, and other malicious activities.
Scan the Dark Web for your personal information
How are Stolen Credit Card Numbers Sold on the Dark Web?
The dark web is a haven for criminals looking to buy and sell stolen data, including credit card numbers. These transactions are often conducted using cryptocurrency to maintain anonymity. The sellers may offer bulk discounts or even tutorials on how to use the stolen information without getting caught.
- Not all stolen accounts bought on the dark web have a pinned payment method.
- Cybercriminals are estimated to make over $18.5 million in total from selling the stolen information.
- Understanding the basics can save you time, money and frustration and get you on your way to building good credit.
Why is it Dangerous?
- Identity Theft: With your credit card number, thieves can easily steal your identity and open accounts in your name.
- Financial Loss: Fraudulent charges made with your credit card number can result in significant financial losses.
- Legal Consequences: If your stolen credit card number is used for criminal activities, you could be held liable for those actions.
Protecting Yourself from Stolen Credit Card Numbers
- Monitor your credit card statements regularly for any unauthorized transactions.
- Use strong, unique passwords for all your online accounts.
- Enable two-factor authentication whenever possible.
- Avoid sharing your credit card information on unsecured websites.
FAQs
The ‘dark web’ is a section of the internet that does not show up on search engines, and requires a different type of browser (such as Tor) to access it. While it can be used as a benign way to access the internet anonymously, it is notoriously used by criminals for underground activity such as the sale of drugs, weapons and data. The study, conducted in partnership with independent researchers specializing in cybersecurity incidents, evaluated eight major dark web markets to recover details of over 6 million cards.
How Secure Is Your Password? Tips to Improve Your Password Security
Can I recover my money if my credit card number is stolen?
In most cases, credit card companies offer protection against fraudulent charges. Contact your bank immediately if you notice any unauthorized transactions.
To protect against many of these attacks, eCommerce sites can use a combination of Transport Layer Security (TLS) encryption and strong authentication and authorization mechanisms, like those offered by OAuth and OpenID. While big purchases are where the criminals make most of their money, testing credit card numbers tend to hurt businesses the most. Once a company’s security has been breached, cybercriminals can start collecting data—whether it’s stored data on the company’s database or “data-in-flight” that is captured as transactions are made.
Is it safe to use my credit card online?
On July 1st, 2014, the Secret Service got a tip that Roman was in the Maldives. The problem though is that the Maldives doesn’t have an extradition treaty with the US either, so they aren’t going to help the US in capturing him. In any case, this shows that, once again, online criminals will come up with innovative ways to monetize stolen data, and get some bucks from fellow criminals as well.
While online shopping is convenient, it’s essential to only enter your credit card information on secure websites with HTTPS encryption.
Stay vigilant and protect yourself from falling victim to stolen credit card numbers on the dark web. Remember, prevention is always better than dealing with the aftermath of fraud.
