Stolen identities sold cheap, but more lucrative
Would you believe your identity is only worth $14 to the thieves who sell it to other fraudsters? According to the latest Internet security threat report from Symantec Corp, a stolen identity that includes Social Security numbers, credit card and the bank account information (including passwords), as well as personal information such as date of birth and the maiden name of the victim’s mother can be bought for $14 to $18.
The report covering the six-month period from July 1, 2006, through December 31, 2006 said that the current Internet threat environment is characterized by an increase in data theft, data leakage, and the creation of targeted, malicious code for the purpose of stealing confidential information that can be used for financial gain.
“We have seen overall an increase in malicious activity globally,” said Dean Turner, executive editor of the Symantec Internet Security Threat Report. “It’s all about money, follow the money.
“It’s easy, there is a lot of money and the risk of getting caught is much lower than smashing a storefront window and grabbing something,” Turner said of the increase in data theft that is reaping windfall profits for techno-savvy and usually organized criminals.
Alfred Huger, vice president of Symantec Security Response, said the bad guys are increasingly packaging stolen data about consumers to add value to the data.
“These guys are going to the effort of data warehousing this stuff and will steal or get data from multiple sites and package it at fairly standard underground market rates,” Huger said. “Three years ago, this kind of commerce would have been exceptional: If your data was stolen there was maybe a chance it would be sold or battered around on underground networks. Now it’s pretty much a certainty.”
Cyber crime continues to grow because the very nature of the Internet makes it difficult for police and security agencies to clamp down. Cyber criminals also continue to refine their attack methods in an attempt to remain undetected and to create global, cooperative networks to support the ongoing growth of criminal activity.
“End users, whether consumers or enterprises, need to ensure proper security measures to prevent an attacker from gaining access to their confidential information, causing financial loss, harming valuable customers, or damaging their own reputation,” Arthur Wong, senior vice president, Symantec Security Response and Managed Services, said.
With this kind of environment, there are only few good things to do. Continue to learn and keep yourself updated so you could be safe. Invest in a full-bodied security suite of antivirus, firewall and antispam software.
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