International Telecommunication Union   ITU
 
 
Site Map Contact us Print Version
 Tuesday, November 25, 2008
Online fraudsters 'steal £3.3bn'

Hi-tech thieves who specialise in card fraud have a credit line in excess of $5bn (£3.35bn), research suggests.

Security firm Symantec calculated the figure to quantify the scale of fraud it found during a year-long look at the net's underground economy.

Credit card numbers were the most popular item on sale and made up 31% of all the goods on offer.

Coming in second were bank details which made up 20% of the items being offered on criminal chat channels.

The $5.3bn figure was reached by multiplying the average amount of fraud perpetrated on a stolen card, $350 (£234), by the many millions Symantec observed being offered for sale.

Similarly, the report said, if hi-tech thieves plundered all the bank accounts offered for sale they could net up to $1.7bn.

Read More