Card not present fraud even more profitable

It’s becoming more profitable to be a cyber criminal these days. The going rate for fraudulently obtained credit card data is on the rise, particularly with theft of online shoppers’ cards. According to Krebs on Security’s expert Brian Krebs, “Traditionally, the average price for card data nabbed from online retailers — referred to in the […]

It’s becoming more profitable to be a cyber criminal these days. The going rate for fraudulently obtained credit card data is on the rise, particularly with theft of online shoppers’ cards.

According to Krebs on Security’s expert Brian Krebs, “Traditionally, the average price for card data nabbed from online retailers — referred to in the underground as “CVVs” — has ranged somewhere between $2 and $8 per account. CVVs are are almost exclusively purchased by criminals looking to make unauthorized purchases at online stores, a form of thievery known as ‘card not present’ fraud.”

Krebs says data indicates that over the past year the demand for CVVs has far outstripped supply, bringing prices for both CVVs and dumps roughly in line with each other.

According to the industry expert, the increasing value of CVV data may help explain  a huge uptick over the past year in e-commerce sites getting hacked.  Read the full story here.

LEVERAGE offers cybersecurity solutions to help protect your credit union. Click here for details.

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The League of Southeastern Credit Unions & Affiliates represents 342 credit unions in Alabama, Florida and Georgia, with a combined total of $118.63 billion in assets and more than 10.1 million members. LSCU & Affiliates provides legislative and regulatory advocacy; education and training; cooperative initiatives (including financial education outreach); public messaging; information services; and business solutions.

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