High-tech Internet fraudsters have stolen PS3.3B in last one year
November 24th, 2008 - 4:58 pm ICT by ANI - Send to a friend:London, Nov 24 (ANI): Credit card numbers and bank details have apparently come as a boon for tech-savvy thieves, for they have actually made a fraud of a huge 3.35 billion pounds in the last one year, according to a new research.
The study by Symantec calculated the amount so that it could quantify the scale of fraud during a year-long look at the internet’’s underground economy.
The researchers found that credit card numbers were the most popular item on sale.
In fact, credit card made up 31 percent of all the goods on offer.
Second in line of vulnerability towards Internet fraud were bank details that made up 20 percent of the items being offered on criminal chat channels.
The 3.35bn pounds figure was reached by multiplying the average amount of fraud perpetrated on a stolen card, 234 pounds, by the many millions Symantec observed being offered for sale.
In the same way, the reports guessed that if hi-tech thieves plundered all the bank accounts it saw being offered for sale they could net up to 1.7billion dollars.
According to Symantec, that theres a possibility that many of the cards offered for sale were invalid or cancelled and bank accounts closed.
“These figures are indicative of the value of the underground economy and the potential worth of the market, the BBC quoted the report as saying.
Credit card numbers were proving so popular among hi-tech thieves because they were easy to obtain and use for fraudulent purposes. (ANI)
Related Stories
- Safe and trusted websites may result in identity theft, fraud - March 1, 2008
- Cyber criminals create $276 mn-worth Internet underground economy - December 3, 2008
- Internet fraudsters selling financial identities for 80 pounds in UK - November 17, 2008
- RBI restrains banks from issuing unsolicited credit cards - July 24, 2008
- Net telephony latest target for hackers - May 15, 2008
- Malaysian moneylenders pay through credit cards - April 25, 2008
- Two arrested for international credit card fraud in Delhi - June 20, 2008
- Los Angeles jury indicts 33 for online phishing - May 20, 2008
- Britain’s RBS bank unveils record write-downs and cash plans - April 22, 2008
- Bangkok woman runs Rs.50 mn e-ticketing fraud in India, four held - December 28, 2008
- Robbery on ‘Prison Break’ set - October 27, 2008
- Citi may sell HDFC stake as part of cost cuts - July 7, 2008
- Now, use your mobile phone as a credit card - February 19, 2008
- Britons cheated of millions in Indian credit card racket - April 2, 2008
- Credit card fraudster arrested in Ahmedabad - October 16, 2008
- National
- 3b
- bank accounts
- bank details
- bbc
- boon
- cards
- chat channels
- credit card numbers
- fraudulent purposes
- internet fraud
- internet fraudsters
- london
- symantec
- thieves
- underground economy
- vulnerability
Posted in National, |
