Tag Archives: Underground

The Underground Ecosystem of Credit Card Frauds

by Abhinav Singh

Point of Sale (POS) malwares have been stealing the limelight this year. They have been the elemental factor in some of the biggest breaches uncovered in the past couple of years.

This talk will cover the aspects of what happens after these details have been sent to the malware authors. The entire ecosystem of credit card frauds can be broadly classified into these three steps:

1. Purchase of raw details and dumps
2. Converting them to plastic cash/cards
3. Shop! Shop! Shop!

The focus of this talk will be on the above-mentioned points and how they form an organized network of cyber-crime.

There have been talks on the POS malware and the big breaches that it has caused. We know that millions of details have been stolen, but the aftermath is hardly discussed. It is important to understand the complete fraud ecosystem if we have to kill its roots. The talk will involve details of forums, which have only privileged access, internal details of the buyers/sellers, personal chats, and IRC encounters that makes it unique and research oriented.
Video Rating: / 5

http://blacksportsonline.com/home/2017/04/details-on-ig-model-arrested-for-identity-theft-40k-rolex-credit-card-scam/

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