According to Cybersixgill, the amount of compromised credit cards for sale on the cybercrime market has fallen sharply over the past few years, but the UK figure has increased.
Security firms collect 10 million “intelligence items” from the deep, dark and transparent web every day to better understand the economics of cybercrime.
this is The State of the Cybercrime Underground in 2023 Compromised cards sold on underground markets between 2019 and 2022 dropped 94% from more than 140 million four years ago to just 9 million last year, report reveals became.
Meanwhile, the market has declined sharply, with the number of cards available to fraudsters dropping by 28% from 2019 to 2020, and by 60% a year later. From 2021 to 2022, sales volume ultimately fell by 78%.
For more information on card fraud, see UK banks best in Europe in reducing card fraud losses last year.
“It’s not just the supply of cards that’s been affected, it’s also the platforms that specialize in selling cards,” the report explains. “Since 2019, the deep dark web marketplaces for stolen credit card transactions have been hit hard both in size and scope.”
Much of this is due to law enforcement actions that have contributed to the collapse of the massive card market and led to the arrest of high-profile cybercriminals.
Meanwhile, Cybersixgill notes that improved user authentication mechanisms and behind-the-scenes real-time fraud detection by banks, card issuers and e-commerce companies are helping to squeeze the stolen card market. Did.
That said, the average monthly price for card details, including CVV numbers, remained relatively stable in 2022, according to the report.
Interestingly, the percentage of US cards compromised in the dark market has decreased from 58% to 49% between 2021 and 2022, while the UK percentage has increased from 5% to 13%.
“The UK has the most compromised cards per capita in the world, with about 1 card compromised for every 68 inhabitants. By contrast, the United States has 1 compromised card for every ~88 There is,” said Cybersixgill.
UK card fraud losses increased by 9% to £204m ($255m) in the first half of 2022 compared to the same period in 2021, according to UK Finance.
Another study by Recorded Future pointed to the war in Ukraine as the main reason for the decline in the amount of stolen cards on the black market. The volume of card-not-present records in 2022 is reported to be down 24% year-on-year, while card-present records are down 62%.
It said part of the blame lays on “mobilization, refugees and voluntary migration, energy instability, inconsistent internet connections and degraded server infrastructure.”
Editorial image credit: RichartPhotos / Shutterstock.com
