Cost of Stolen Bank and Personal Data on Web Falling
Just like goods in the legal business world, the large supply of pilfered bank and credit card information is causing prices to drop, following basic rules of supply and demand. The Web security firm Finjan is reporting that the cost of illegally buying data like PIN numbers has dropped from over $100 to only 10 or 20 bucks.
The company also claims in its report that the black market for bank data is ruled by mafia-like organizations with a hierarchy of underlings stealing and selling the goods as if they'd hijacked a truck. The competition has also given rise to menus of buyable info and quality guarantees on the product, with one outfit promising new data if the original is rejected.
Unfortunately for law-abiding citizens, Finjan predicts that banks will assume less responsibility if these criminals target their customers. If you're putting yourself at risk by lack of computer protection or unsecured Internet purchases, you may end up getting shaken down by your financial institution. On the plus side, chances are they won't try to break your legs. [Source: Reuters]
Filed under: Computers
Add your comments