Dark Web Fraud Undetectable By Police

Identity fraudsters are getting smarter, more organised and the police are finding it harder to track them down, despite two major dark web takedowns last year, according to an online intelligence vendor.

Terbium Labs uses its flagship Matchlight technology to scour the dark web for sensitive data that may have been stolen from its clients. Its work in doing so has also revealed some interesting trends in cybercrime on the non-indexed web.

AlphaBay and Hansa were thought to be two of the largest dark web marketplaces in the world, facilitating the trade of over 350,000 illicit commodities including drugs, firearms and malware.

However, despite the fanfare that greeted their demise at the hands of global law enforcers, these efforts have only disrupted drug dealers and others who populated these forums.There has been little impact on carding and identity theft communities, according to Munish Walther-Puri, Terbium Labs’ chief research officer.

“These communities often operate in their own venues on the dark web; they persist and innovate despite the upheaval in the broader ecosystem,” he explained.

“Fraudsters go to numerous boutique markets to buy and sell stolen data, so it is harder to get insight into what this underground economy looks like by simply looking at one or two markets. You have to look across a broad range of forums and markets, which is what we do.”

The fraudster community is actually expanding and sharing information on an ever-growing scale, such as via online guides which detail how to target specific types of organisation and circumvent anti-fraud filters.

One group has been monitoring banks and targeting those that have failed to update their security policies, the firm explained.
Anti-fraud service provider ThreatMetrix claimed global fraud has soared 100% over the past two years to reach 700 million attempts in 2017 alone.

The rise is being fueled by the deluge of breached data on the dark web and the use of automated bots to test stolen identities, hijack accounts and open new ones. The firm blocked 1.5 billion bot attacks in 2017.

Infosecurity Magazine

You Might Also Read:

Millions Of Compromised Accounts Discovered On The Dark Web:

The Hidden History of CyberCrime Forums:

ISPs Asked To Block Pirate Sites:
 

 

« Millions Of Facebook Profiles Were ‘Harvested’ In US Election Breach
US Accuses Russia Of Attacking Energy Infrastructure »

Quartz Conference
CyberSecurity Jobsite
Perimeter 81

Directory of Suppliers

MIRACL

MIRACL

MIRACL provides the world’s only single step Multi-Factor Authentication (MFA) which can replace passwords on 100% of mobiles, desktops or even Smart TVs.

LockLizard

LockLizard

Locklizard provides PDF DRM software that protects PDF documents from unauthorized access and misuse. Share and sell documents securely - prevent document leakage, sharing and piracy.

CSI Consulting Services

CSI Consulting Services

Get Advice From The Experts: * Training * Penetration Testing * Data Governance * GDPR Compliance. Connecting you to the best in the business.

XYPRO Technology

XYPRO Technology

XYPRO is the market leader in HPE Non-Stop Security, Risk Management and Compliance.

Clayden Law

Clayden Law

Clayden Law are experts in information technology, data privacy and cybersecurity law.

Link11 GmbH

Link11 GmbH

Link11 provides DDoS protection solutions to protect websites and complete server infrastructures from DDoS attacks.

ICSA Labs

ICSA Labs

ICSA Labs provides third-party testing and certification of IT security software and products, as well as network-connected devices.

Cybereason

Cybereason

Cybereason provides real-time detection of malicious activity enabling you to identify the cause and scope of an attack and ensure an effective response.

Key Resources

Key Resources

Key Resources is a mainframe security and integrity solution provider that offers software, services, and consulting solutions to large companies

Square

Square

Square, Inc. develops and provides payment processing, point-of-sale (POS), financial, and marketing services worldwide.

IT2Trust

IT2Trust

IT2Trust is one of Scandinavia’s leading value-added distributors of business-critical IT solutions within IT security and networking.

ISARA Corp

ISARA Corp

ISARA Corporation is a security solutions company specializing in creating class-defining quantum-safe cryptography for today's computing ecosystems.

ExpressVPN

ExpressVPN

ExpressVPN is a Virtual Private Network services provider offering secure encrypted access to the internet.

IFE Digital Systems

IFE Digital Systems

IFE Digital Systems conducts research, development and consultancy in risk, safety and security related to digital systems in critical infrastructure.

Dutch Innovation Park

Dutch Innovation Park

Dutch Innovation Park in Zoetermeer is a breeding ground for applied IT solutions in the field of cyber security, e-health, smart mobility and big data.

Simpliv LLC

Simpliv LLC

Simpliv is a global online learning marketplace that transforms lives by offering online training on a wide variety of topics including Cybersecurity.

Citalid

Citalid

The Citalid cyber risk management platform combines threat and business intelligence to identify the risks scenarios you face.

LogicHub

LogicHub

LogicHub is built on the principle that every decision process for threat detection and response can and should be automated.

Quantifind

Quantifind

Quantifind enables financial crimes/fraud analysts and investigators to make better decisions, faster, with intelligent automation.

Fusion Risk Management

Fusion Risk Management

Fusion Risk Management focuses on operational resilience encompassing business continuity, risk management, IT risk, and crisis and incident management.

Stronghold Cyber Security

Stronghold Cyber Security

Stronghold Cyber Security is a consulting company that specializes in NIST 800, the Cybersecurity Framework and the Cybersecurity Maturity Model Certification.