Go to Top

The Black Market for Data

black market

If the right kind of personal data – credit card numbers, email addresses, online credentials, or bank account information – falls into the wrong hands, you can be sure criminals will use that data for their personal gain or sell it on the black market, where buyers and sellers anonymously deal in stolen or illegal goods and services.

On the darknet, the secret and hidden part of the Internet, everything from weapons and drugs to money laundering and credit card information can be bought and sold. For example, a complete set of all the credit card data – name, payment card number, expiration date, social security number, date of birth and the CVV number (the three-digit security code on the back of the credit card), currently costs between $30 and $45 in the U.S. and Europe.  Credit card dumps, the copying of information stored on the magnetic strip of the card, are offered for between $200 and $300. This information can then be copied onto credit card blanks, turning the fake cards into real ones.

Online account data

The personal information from your Amazon or eBay account, for example, are in high demand on the black market – as well as access data from video streaming services, like Netflix.  You can get a Netflix account as a bargain offer for as low as 50 cents on the dark web.

Phone apps – free isn’t always free

Free apps are funded through advertising, but the data that the smartphone sends to the developer may be resold, however, you don’t know who is going to deliver the data.  The data is supposed to be transmitted anonymously and not traced back to the origin, but this isn’t always the case. Scientists have found out that de-anonymization isn’t as complicated as it seems.

Medical records

Today, patient records are very popular.  In 2015, about 100 million records were stolen.  What seems somewhat surprising at first sight can be explained by the fact that in these files – apart from the insurance number – sensitive personal information can be found.  The stolen records are often used then for identity theft or extortion.  The “durability” of the data, as the security researchers of IBM’s X-Force research team state, is of great interest to criminals.  A credit card account can be blocked, patient records cannot, and its data is normally good for a lifetime.

Discarded devices

Even more caution should be used when privately selling used computers or smartphones. Reformatting a hard drive or resetting a smartphone does not help against professional data collectors. It’s always recommended to use professional data erasure software before selling the device.

These devices are gladly used by hackers for all sorts for criminal behavior – especially if they can reveal where the data came from.  Devices that contain information from a business, for example, are of special interest for thieves.  Highly sensitive or private data such as company secrets, login data, or other sensitive information can mean more money.  Private computers, on the other hand, are an excellent starting point for a career as a blackmailer – or for someone specializing in identity theft.

If you want to make sure that no one can use your data, you should erase the storage media for good.  This can be done using a device called a degausser, which uses a strong magnetic field to erase the data or by shredding or mechanically destroying the media itself.

Protect your data

Data protection is more important than ever before.  Make sure you’re taking the necessary steps to protect your personal data and constantly reviewing areas that could be potentially compromised by criminals.  Treat your data like it’s gold. Don’t make it easy for someone to steal your gold and make money off of it on the black market.

Leave a Reply

Your email address will not be published. Required fields are marked *