Globalization Fuels Cybercrime: A Threat to Australian Credit Card Holders

Globalization benefits consumers and businesses but also provides opportunities for organized crime. Many internet criminals join or form organized crime groups, motivated by economic, cultural, or technical reasons. Globally, individuals and mafia groups engage in illegal online activities, often aiming to become wealthy.

Australia ranks among the top 10 countries targeted by cybercrime. Recently, Australian credit card holders’ personal information was compromised and published on a website originating from Vietnam. Although this might seem like an isolated incident, such occurrences are part of a broader organized cybercrime effort.

Cybercriminals sell thousands of pieces of stolen, misappropriated, and sometimes fake credit card information daily. Three primary packages are available:

1. CC Dump: Information from the credit card’s magnetic strip. A simple dump costs around US$0.10 (AU$0.09) when bought in large quantities.

2. CC Full Info: Contains all details about a bank card and its owner. Prices range from US$2 to US$30 (AU$1.97 to AU$29.60), varying by data quality and country.

3. COBs (Credit Card with Change of Billing): This package offers total control over the pirated account. It allows the buyer to change the victim’s address for more secure fraudulent transactions. Prices vary from US$80 to US$300 (AU$79 to AU$296), depending on supply and authorized balance transfer limits.

Cybercriminals gather personal information by exploiting software vulnerabilities and human psychology. They deploy a wide range of malware and threats, including spyware, phishing, botnets, adware, rootkits, spam, and unsafe websites.

They no longer rely solely on spam to deliver threats. Instead, they exploit popular social networking sites to secure personal identity information. The malware underworld also uses mainstream practices to “sell” fake security software that is misleading or fraudulent.

With the rise of online shopping, especially driven by the strong Australian dollar and bargain hunting before Christmas, consumers must be aware of security risks. They should protect themselves against spam and malware attacks by using the latest security software with real-time updates and be cautious about sharing personal information, even on popular websites.

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