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The Economy of Online Crime

hdtv writes "You might call the thugs or thieves, but on their own closed forums and referral-only Web sites, they value honesty and reputation. Fortune magazine looks into the black market for stolen credit card numbers and identities. What's interesting is that so few of the criminals retrieve their information via breaking into online stores." From the article: "Gaffan says these credit card numbers and data are almost never obtained by criminals as a result of legitimate online card use. More often the fraudsters get them through offline credit card number thefts in places like restaurants, when computer tapes are stolen or lost, or using 'pharming' sites, which mimic a genuine bank site and dupe cardholders into entering precious private information. Another source of credit card data are the very common 'phishing' scams, in which an e-mail that looks like it's from a bank prompts someone to hand over personal data."

6 of 119 comments (clear)

  1. Re:Phising getting more and more "important" by Anonymous Coward · · Score: 1, Funny

    I read it on the internet so it MUST be true!

  2. good and bad by Umbral+Blot · · Score: 5, Funny

    Well it's nice to know that my online shopping is safe, it is somewhat scary to know that real life shopping is less secure. Just one more reason to never leave the room.

  3. Re:Will the real site please stand up. by iminplaya · · Score: 3, Funny

    BOA is using a pictograph means to reduce pishing.

    But then your bladder might exshplode.

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    What?
  4. Re:pharming? by Aardpig · · Score: 4, Funny

    In fact, I thought 'pharming' referred to genetic manipulation of animals and plants to produce pharmaceutical products. For instance, one might produce a strain of cows that express Viagra in their milk. Of course, they'd be a right bugger to milk...

    --
    Tubal-Cain smokes the white owl.
  5. Re:Amazing complexity by vastabo · · Score: 4, Funny

    Now that's customer service worthy of a credit card company!

  6. Re:pharming? by Kadin2048 · · Score: 2, Funny

    Of course, they'd be a right bugger to milk...

    Here's a hint; if it only has one teat instead of four ... don't try to milk it. Just stop and walk away, before you owe it dinner.

    --
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