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Small price for stolen card details

Fraudsters are being forced to sell off credit card details at increasingly low prices, a new study has shown.

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14 April 2009

Small price for stolen card details”

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According to the annual Symantec Internet Security Threat Report, criminals can expect as little as 40 pence for plastic card details as the number of people involved in illegal operations of this sort rises.

While many attribute the low cost of credit card details to burgeoning demand prompting a price war, other security experts are more optimistic.

Peter Tippett, vice president of research and intelligence for Verizon Communications, told the Associated Press that anti-fraud measures may be playing a part instead.

He explained: "The value of just the front side of your credit card has gone to almost zero - the bad guys need to get more and more data."

Meanwhile, the government announced last month that it is setting up a three-year National Fraud Strategy to try and curb crimes of this nature.

Among the new initiatives are more legal powers for prosecutors and a national fraud reporting centre.

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16.9% APR representative (variable). Based on a credit limit of 1200 and purchase rate 16.9% p.a(variable).
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