Black market Internet sales

04.18.16 Back to video

Jason Witty
U.S. Bank Chief Information Security Officer

Right now, the cost of a stolen credit card on the Internet has gone down so dramatically that if you buy it in bulk, you can actually get those for about a dollar each. One dollar. What I find particularly interesting is if you then supplement that card with more personal information, call it a Social Security number or maybe a mother’s maiden name, now you are talking about an identity record and that might be more like $20 or $25. Where it gets super interesting is you then couple healthcare information with that identity information. You have diagnoses. You have prescriptions. You have different medical fields that you then sell. Now, that’s like a $100 record on the black market. And these are being sold on the Internet in underground forums every single day by the tens of thousands or even hundreds of thousands per batch.

Important Disclosures

The information provided represents the views of Jason Witty and those of U.S. Bancorp. The information presented is for discussion purposes only. Factual information, data and research statistics have been gathered from a variety of sources, which are believed to be reliable, but are not guaranteed as to accuracy or completeness.

Important Disclosures