Shocking discovery: Over 65,000 Aussie payment cards found on the dark web – Are you at risk?
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We all know that the world is becoming increasingly digital, and while that has a lot of advantages, it also comes with its own set of risks.
One of the biggest concerns for many is the safety of our personal and financial information when we're shopping online or when using our payment cards.
Recently, we stumbled upon a concerning report which shows us that we have every reason to be worried.
A new study conducted by cybersecurity researchers found over six million stolen payment card details on the dark web, which is a hidden marketplace where illegal products and services can be bought and sold.
Shockingly, among this bundle of stolen cards, over 65,000 of them belonged to Australians.
NordVPN, the company behind the research, ranked Australia as second on their fraud risk index. However, payment cards were not only available to be bought and sold, but they also came bundled with private information like addresses, phone numbers, and email addresses – making identity theft a serious risk.
Sadly, despite the terrible ordeal that card fraud and identity theft can cause for victims, the average cost of an Australian payment card on the dark web is as low as $9.82. These stolen card details are still up for grabs on eight of the major dark web marketplaces.
The report also stated that these digital marketplaces thrived on global issues, which is expected to cause financial losses of $32.96 billion by the end of the year.
NordVPN's cybersecurity advisor, Adrianus Warmenhoven, offered this alarming insight: 'The cards researchers found are just the tip of the iceberg. The information sold with these cards makes it much more dangerous.'
Of the 65,000 Aussie payment cards up for sale, 28,000 were being sold with the cardholder's home address, 22,000 included telephone numbers, 18,000 included email addresses, and about 200 cards included the cardholder's date of birth.
This combination of information puts those affected at a higher risk of identity fraud, potentially allowing cybercriminals to access even more personal information using legal methods.
The alarming discovery suggests that the cards and associated personal details were not stolen using traditional 'brute-force' methods but rather through more sophisticated means such as phishing and malware attacks.
By selling this compromised information, the cybercriminals stand to make over $27.5 million in total. On the other hand, those who buy these stolen payment card details could profit far more.
Here’s how you can protect yourself
Although Australia ranked high on NordVPN's risk index, there are ways to protect yourself from becoming a victim of cybercrime. Warmenhoven offers several tips:
Continue to educate yourself about the risks and stay updated with the latest cyber security news to defend against potential threats. As the old saying goes, 'prevention is better than the cure' – and it certainly applies here!
Have you or someone you know been a victim of identity theft? What happened? We’d love to hear your stories in the comments below and don’t hesitate to share your own tips and advice on staying safe online.
One of the biggest concerns for many is the safety of our personal and financial information when we're shopping online or when using our payment cards.
Recently, we stumbled upon a concerning report which shows us that we have every reason to be worried.
A new study conducted by cybersecurity researchers found over six million stolen payment card details on the dark web, which is a hidden marketplace where illegal products and services can be bought and sold.
Shockingly, among this bundle of stolen cards, over 65,000 of them belonged to Australians.
Australia ranked second on the fraud risk index. Credit: Soumil Kumar/Pexels
NordVPN, the company behind the research, ranked Australia as second on their fraud risk index. However, payment cards were not only available to be bought and sold, but they also came bundled with private information like addresses, phone numbers, and email addresses – making identity theft a serious risk.
Sadly, despite the terrible ordeal that card fraud and identity theft can cause for victims, the average cost of an Australian payment card on the dark web is as low as $9.82. These stolen card details are still up for grabs on eight of the major dark web marketplaces.
The report also stated that these digital marketplaces thrived on global issues, which is expected to cause financial losses of $32.96 billion by the end of the year.
People are urged to stay vigilant when doing online transactions. Credit: Bich Tran/Pexels
NordVPN's cybersecurity advisor, Adrianus Warmenhoven, offered this alarming insight: 'The cards researchers found are just the tip of the iceberg. The information sold with these cards makes it much more dangerous.'
Of the 65,000 Aussie payment cards up for sale, 28,000 were being sold with the cardholder's home address, 22,000 included telephone numbers, 18,000 included email addresses, and about 200 cards included the cardholder's date of birth.
This combination of information puts those affected at a higher risk of identity fraud, potentially allowing cybercriminals to access even more personal information using legal methods.
The alarming discovery suggests that the cards and associated personal details were not stolen using traditional 'brute-force' methods but rather through more sophisticated means such as phishing and malware attacks.
By selling this compromised information, the cybercriminals stand to make over $27.5 million in total. On the other hand, those who buy these stolen payment card details could profit far more.
Here’s how you can protect yourself
Although Australia ranked high on NordVPN's risk index, there are ways to protect yourself from becoming a victim of cybercrime. Warmenhoven offers several tips:
- Create strong passwords: Use different passwords for each account and store them in an encrypted password manager. Make sure your passwords are at least 20 characters long and consist of letters, numbers, and symbols.
- Download your bank's app: Track your money and keep an eye out for any unusual deductions. Some apps will even notify you of every transaction in real-time – just make sure to check.
- Respond to data breaches: If a company informs you that your details were involved in a data breach, change your username and password immediately. If you've used the same login information elsewhere, change it there too.
- Use anti-malware software: Download anti-malware software to protect your device from malicious files and information-stealing viruses.
Continue to educate yourself about the risks and stay updated with the latest cyber security news to defend against potential threats. As the old saying goes, 'prevention is better than the cure' – and it certainly applies here!
