Randomness (r_ness) wrote,
Randomness
r_ness

Free market in action...free market in identity theft, that is.

From http://ftalphaville.ft.com/blog/2008/05/09/12928/stolen-financial-data-doesnt-cost-much-these-days/:

(Stolen) financial data doesn’t cost much these days
Psst. Are you in the market for a social security number or three, by any chance? How about access to a compromised bank account? It will cost you - about 6 to 11 cents on the dollar.

At least, that is what the creators of this recently-discovered price list were demanding, according to researchers at McAfee Avert Labs. Access to a Washington Mutual bank account with a $14,000 balance would set you back a mere €500 - or around $771. Or, if you preferred an European account, you could score a BNP Paribas joint worth €30,792 for €2,200.

Prices vary depending on the available balance, bank organization and country, according to McAfee’s Francois Paget. And some sellers even offer guarantees - if, for example, you are unable to log in to your chosen account within 24 hours, you will be given a replacement. Some sites also offer free data to establish that they are - er - legit.

In some cases, batches of 500 credit card numbers were selling for $200 a pop, or just 40 cents each, in the second half of last year. Six months earlier, such data would have cost around 50 per cent more, and would only have been available in batches of 100, according to the report.
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