Home » Alerts » Your Online Identity is Black Market Money making Possession

If you consider there is only a black market for stolen drugs, mobile phones, pirated software, hardware devices etc., and then you could be wrong. Online black market is something that is taking origin across the world, and one of its most beneficial stuff is your personal identity details.

The digitization of the assets, has no doubt, increased our life’s proportion of convenience. Online Ecommerce portals have redefined the way people do their shopping. Getting to browse a large number of products from the ease of your home anytime beats roaming around a shopping mall. A greater relief was the use of online banking. People can now escape long queues, uncooperative fellow customers, disgruntled tellers, and the labor of filling up never ending forms. A few clicks of the mouse and your winter shopping is done, and verifying your monthly bank statement.

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Now, let’s partly open the curtain of this convenient world and have a look outside. We will get to see numerous dark alleys, where anonymous figures are somehow trying to look for a way into your house. Remember the credit card number or social safety number, you just entered in the ecommerce website? Yes, it is this and other relevant data that these figures are after. And once a hacker gets hold of all such data, and then it’s all festive time for them; thanks to the online black market.

What’s your Online Identity’s worth on the Black Market?

A victim’s financial data is the cash machine for any hacker on the black market. One of the common requirements of this market is “fulls”. One package of “fulls” includes:

  • The target’s card number
  • Social security number
  • One Time Password
  • Expiration date
  • Contact details

And this whole bundle can cost $10 to $15. Using all such details, a buyer can form fake credit card loans, apart from running up the card.

In addition to this, another financial stuff that hackers exploit big time, is a target’s bank account. In return for full access to a bank account, users are ready to shell out 5% to 10% of the whole balance in the account.

The Other part of the Story

A kind of information, whose loss can expose your whole financial details, can cost a mere 10 to 15 bucks; utterly surprising, isn’t it? Given the size of the harm that personal data theft can cost, it should have come with a price tag. In place, it is dirt cheap. What could be the cause behind this?

Cyber thieves are not cyber thieves as they only have the knack and software’s for hacking. They know the black market economy bloom, and steps they must take to protect themselves hidden. There are a few identity thieves who go by one basic rule – stealing identity details in bulks, storing them, and reselling the same to other online threats. Doing so, they believe, is a safer business. This way, the hackers are not only making good cash, but they are leaving very little for the staff to find them down. Peoples, who purchase these data and try to gain from them, are the ones who come in the authorities’ line of fire.

How McAfee helps Combat Identity Theft?

McAfee Total Security 2017 has expertly incorporated the numerous features that are tailored for stopping identity theft:

While it is like a rocket science to do away with cyber crimes like the identity theft, there are several measures that do mitigate the risks to a huge extent. These comprise keeping your Operating System and safety software patched and up-to-date, eliminating unsolicited emails (particularly those from banks), and inculcating safe online banking practices. If in case you experience, any issue regarding McAfee Antivirus, just contact McAfee Antivirus Technical Support for any help. The technician will assist the caller a few steps to fix the issue.