Last week, Symantic issued their Internet Security Threat Report. Not surprisingly, credit card fraud is at the top of the threat list.
Credit card information is the most advertised category of goods and services on the underground economy, accounting for 31 percent of the total. While stolen credit card numbers sell for as little as $0.10 to $25 per card, the average advertised stolen credit card limit observed by Symantec was more than $4,000. Symantec has calculated that the potential worth of all credit cards advertised during the reporting period was $5.3 billion.
There is no question that credit card fraud is being perpetrated by sophisticated and organized groups and this report is another confirmation of that. And, the way I see it, the report also confirms that the credit card companies’ claims of security are not much more than sales hype.
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