War In Ukraine Drives A Decline In Stolen Cards

The Russian invasion of Ukraine in early 2022 is directly linked to a  major decrease in stolen payment card records published to the Dark Web.

Researchers at Recorded Future have released report that describes how the Russian invasion of Ukraine in early 2022 led to a 62% decrease in stolen payment card records. “2022 was a year of system shocks, and the payment card fraud market did not survive unscathed." Russia’s cyber crime crackdown, followed promptly by its full-scale invasion of Ukraine in February 2022, produced lower carding volumes for the remainder of the year. 

Recorded Future stated that it detected a decline in the volume of card-not-present records and card present records on Dark Web carding shops and connects this decrease to two significant events that occurred at the beginning of the year.

  • The first event identified by Recorded Future was a crackdown on cyber crime groups conducted by the Russian state. The operation included arresting suspected members of REvil ransomware group, a leading perpetrator of credit card theft. 
  • The other event was Russia’s invasion of Ukraine, which Recorded Future states impacted threat actors’ ability to engage in card fraud.

“In total, 2022 saw 45.6 million card-not-present (CNP) and 13.8 million card-present (CP) payment card records posted for sale to carding shops on the Dark Web. These figures were considerably lower than the 60 million CNP and 36 million CP records posted for sale in 2021,” says Recorded Future’s Report. 

These records were later published to the Dark Web on cyber crime underground forums and the Report from Recorded Future details all payment fraud trends and information from 2022. 

Recorded Future:      Recorded Future:    CyberWire:    Oodaloop:     Infosecurity Magazine:     ITSecurity News

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