Monday, November 24, 2008

Online fraudsters 'steal £3.3bn'

Hi-tech thieves who specialise in card fraud have a credit line in excess of $5bn (£3.35bn), research suggests.

Symantec calculated the figure to quantify the scale of fraud it found during a year-long look at the internet's underground economy.

Credit card numbers were the most popular item on sale and made up 31% of all the goods on offer.

Coming in second were bank details which made up 20% of the items being offered on criminal chat channels.

The $5.3bn figure was reached by multiplying the average amount of fraud perpetrated on a stolen card, $350 (£234), by the many millions Symantec observed being offered for sale.

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