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Where’s the $$$ at? Selling credit card data. Have you heard of the Russian hacking ring that raked in two and a half billion dollars? Check it out:
There are three ways criminals obtain credit card data, and selling it is enormous business. And data breaching at the point of sale has been a big issue for the past few years. POS attacks are conducted with skimming tactics or by using Trojans. Unless significant changes are made, look for POS attacks to swell up, not shrivel up.
Selling credit card information is such big business that there exist professional wholesalers who specialize in this. Ukrainian, Russiona and many in eastern Europe are some of the largest brokers of and the main suppliers of stolen card data. But the wholesalers who purchase his acquired data are also rolling in the dough.
More on the Russian Hacking Empire
There’s currently just no end in sight for the Russian hackers, and there perhaps never will be, especially since geography is a barrier to prosecution.
6 ways to watch your statements.
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Oleksandr Strozhemin Co-founder and CEO at Trinetix
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Abhinav Paliwal CEO at PayNet Systems- A Neo Banking Software Platform
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