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How Much Is A Stolen Credit Card Worth On The Black Market?

The news media has covered very well the Gonzalez- led theft of 130 million credit card numbers. What is this information worth to criminals? In other words, what does this stolen information sell for?

According to a post on VirusList.com dated Aug. 17, 2009, U.S. consumers' Visa credit cards are worth about $2 each. While analyzing virus software, Kaspersky Lab virus analyst Dmitry Bestuzhev found a Web site with pricing information for stolen credit cards. German credit cards, at $6 (USD) each, fetch the highest price at piece. With technical support and a sliding scale of prices, this appears to be organized business.

It appears that the price also varies by order size. CBC News Canada reported:

"Stolen credit card numbers now go for as little as six cents each, if they're bought 10,000 at a time. The price can be $30 US per card for smaller orders. Access to hijacked email accounts can cost 10 cents to $100, while bank account credentials range from $10 to $1,000. Scammers can hire people to "cash out" compromised bank accounts for between eight per cent and 50 per cent of the amount they're stealing. Hosting for scam websites ranges from $3 to $40 per week."

That implies that the 130 million credit card numbers stolen by the Glonzalez-led theft ring are worth about $7.8 million (USD) on the black market, if purchased in bulk.

Comments

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ian

There are some precautions we can all take to avoid situations like this. there are some free resources that allow online consumers to withold the sending of their personal information online while still managing to make online transactions. This percentage rate of this issue increases every year, and no one is beyond having it happen to them. I know a few people it's happened to, so it kinda hits home.

Anonymous

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