Techno-News Blog

July 31, 2017

Online Courses Projected to Drive Credit Card Fraud to $24B by 2018

Filed under: Uncategorized — admin @ 12:20 am

by Kelly Sheridan, Dark Reading

An underground ecosystem provides cybercriminals with online tutorials, tools, and credit card data they need to commit fraud. An ecosystem of payment card fraud will drive a projected $24 billion in losses by the end of 2018. Cybercriminals are working together to share tools, tutorials, and credit card data to scam victims. It turns out payment card fraudsters learn their skills as many professionals do: through online learning. Researchers at Digital Shadows discovered a Russian carding forum provides a course on how to commit fraud, complete with instructors, syllabus, webinars, and reading material. “We were surprised by the sophistication of the teaching site,” says Michael Marriott, research analyst at Digital Shadows. “There were weekly webinars, course material, links to software [students] could use, interactive Q&A sessions.”$24b-by-2018/d/d-id/1329408

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