Tuesday, June 21, 2005

Black Market in Stolen Credit Card Data Thrives on Internet - New York Times


"'Want drive fast cars?"'asks an advertisement, in broken English, atop the Web site iaaca.com. "Want live in premium hotels? Want own beautiful girls? It's possible with dumps from Zo0mer." A 'dump,' in the blunt vernacular of a relentlessly flourishing online black market, is a credit card number. And what Zo0mer is peddling is stolen account information for Gold Visa cards and MasterCards at $100 apiece. It is not clear whether any data stolen from CardSystems Solutions, the payment processor reported on Friday to have exposed 40 million credit card accounts to possible theft, has entered this black market. But law enforcement officials and security experts say it is a safe bet that the data will eventually be peddled at sites like iaaca.com."

Black Market in Stolen Credit Card Data Thrives on Internet - New York Times Now identity theft is being discussed in national media for the first time in a substantial way. Internet trafficking in stolen credit cards is the inevitable result of lax security policy and easy access to credit information. Paper shredders are a huge and booming new market and we're suddenly being more careful who gets our social security number and learning to say no to sensitive information requests from sources unlikely to need that info. I wish it hadn't taken the recent losses to wake the us up, but I'm glad the slumbering giant is awakening at last.

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posted by RealitySEO at 11:52 AM

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