According to Terbium Labs the most-sold data category falls into fraud guides. Fraud guides are listings that are purported to sell guides and processes that can then be used to target consumers or businesses. Fraud guides account for nearly half (49%) of category data sold. That is followed by personal data (15%) and non-financial account and credential data (12%). Fewer than 10% of financial accounts and credentials are sold on the dark web.
The problem, according to the report authors, is that many businesses don't understand that fraud guides can give even the newest hacker or fraudster a roadmap to defraud their business for a large amount of money. Instead, many focus on actual personal data or credentials stolen because these are seen as a more imminent threat. But, even fraud guides can leading to larger data breaches, phishing attacks and account takeovers.
"We routinely see stolen data for sale on these markets for surprisingly low prices, considering how expensive the consequences of stolen data can be to an organization," said Tyler Carbone, Chief Strategy Officer of Terbium Labs. "The missing piece here is the way criminals buy that data and make use of available knowledge and tools to exploit it. It is incredibly important for organizations to detect and respond to stolen data earlier - when it's at that "raw material" stage - in order to reduce damage and prevent it from ever being used effectively as an instrument for expensive cybercrime."
And new data out from Pew Research underlines the importance of brands taking digital fraud seriously. According to their new report about half of Americans have stopped using or decided not to use a product or service because they are worried about the risk to their privacy. Just over half (52%) say they worry about how much personal information is collected about them and have therefore opted not to use a product or service.
More than half say someone other than themselves have attempted to open a line of credit in their name (64%) or open a social media account using their name (63%) or put fraudulent charges on their credit card (56%) over the past year.
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