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A high-tech black market for stolen credit card details in former Soviet countries is worth $680m


October.20.2014 0 Comments

credit-card

In the former USSR countries, criminal activities with stolen credit cards have created a market of $680 million. This accounts for 27% of the total high-tech crime market, says a report released by Russian cyber security firm Group-IB, covering the period from July 2013 and June 2014. The analysts say that today “Russian-speaking hackers are still one of the most important origins of global high-tech crime trends.”

Among the analysts’ findings in regard to the black market for cards is that it currently looks like any other legitimate online market. Over the past years, it has become structured and “complete with wholesalers and online trading platforms,” so that criminal customers can go through offered stolen credit card numbers as if they were doing shopping on Amazon or any other e-commerce platform. One of the biggest players in this black market is a hacker nicknamed Rescator, who allegedly lives in Ukraine.