HOW IS STOLEN CREDIT CARD DATA SOLD?
How do hackers sell stolen credit card data? The recent Sony PlayStation data breach has hackers worried about the price of credit card numbers and identity information on the black market. According to a European hacker, the Sony data breach could reduce the sales price for credit card numbers and personal identifying information.
Kevin Stevens, senior threat researcher at the data security company Trend Micro, explained in an interview Nick Bilton at the New York Times that there was a lot of discussion taking place in hacker forums about the Sony data breach. The hackers/credit card dealers are concerned with the influx of millions of credit cards into the market, resulting in a lower price.
How much do credit cards sell for on the internet? According to Mr. Stevens, stolen credit cards usually sold for about $5 to $10 online. The price of the card is based on the information supplied with the card data and the account limit. Now, the hackers who claim responsibility for the Sony breach say they have access to over 2.2 million credit cards. If these cards make it to the underground market, stolen credit card prices could drop to $1 or $2 each.
IF YOU BELIEVE YOUR CREDIT CARD NUMBER WAS STOLEN, THEN YOU SHOULD CANCEL YOUR CREDIT CARD. ALSO, YOU SHOULD REQUEST A FREE CREDIT REPORT AND REVIEW IT FOR ITS ACCURACY.