Using Stolen Identification to Buy Health Insurance

Computer hackers and identity thieves sell full kits of stolen identity on Internet forums for $1,200 to $1,300. These stolen identity kits contains a person’s basic information along with their Social Security number, driver license copy,  and bank account information with routing numbers. For rush orders, the hackers charge an additional $100 to $500 for… Continue reading Using Stolen Identification to Buy Health Insurance

Cost to Launder Money Through Online Payment Systems

Cyber criminals who collected money from various crimes online use the services of various internet payment systems in order to move their funds. One such payment system, Liberty Reserve, was shut down by security services in the United States in June 2013. Internet security and cybercrime experts who monitor the black market state that criminals… Continue reading Cost to Launder Money Through Online Payment Systems

Revenue Generated From Fake Twitter Accounts

Online security researchers estimate that the market for fake Twitter accounts generates between $40 million to $360 million per year. According to one study, the average price for a Twitter user to purchase 1,000 fake followers is $18. The fake followers are generally sold in batches of 1,000 to 1 million. Some sellers of fake… Continue reading Revenue Generated From Fake Twitter Accounts

Profits From Cybercrime

The European Commission estimates that organized crime generates up to $388 Billion a year in profits from cybercrime. In the United Kingdom alone, British businesses were losing up to $28 Billion (21 Billion Euros) from cybercrime. In Germany, police reported over 5,000 phishing incidents in 2010, an increase from the less than 200 incidents reported in 2008.