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Thriving Black Market for Cybercrime-as-a-Service

A recent study by Armor shows how fraud and other cybercrimes evolve and get industrialized. If this is something you take interest in and want to get exceptional merchant account comparison, just go on reading this post. 

Merchant Account Comparison&Fraudulent Schemes

Threat Resistance Unit (TRU) research by Armoris based on 12 different dark marketplaces under the Black Market umbrella. The purpose of the research team was to get a better idea of the services and data being sold in the underground. 

The research reveals that bank-account credentials, credit-card numbers, full-identity packets, as well as DDoS (distributed denial-of-service)and spamming-service attacks are still quite popular. 

Besides, new offerings are available on the marketplace, such as cash for pennies on the dollar, log-in credentials for unhacked-Windows servers for use with Remote Desktop Protocol (RDP), and articles of incorporation.

When it comes specifically to Europe, here, the use of Triacetone Triperoxide (TATP) for solid explosive attacks is on the rise. The latter is also called ‘Mother of Satan’.

Are you using secure and trustworthy merchant services? To make sure you’re working with the right provider, turn to a reputable payments-processor comparison company that can help you with merchant account comparison. 

Make sure to work with a payments specialist that’s concentrated on terms, complaints, integration, and is focused on contracts, rates, and fees. A true payment expert will guarantee the most honest snapshot of companies at the time of writing. 

Black Market for Fraudulent Credit-Card Schemes

Chief marketing officer at PSCUTom Pierce reports that given goods and services are increasingly available online, consumer-payment preferences are now mainly driven by convenience. Moreover, debit cards used for completing transactions are becoming a more preferable option. 

European Association for Secure Transactions (EAST) has already published its 3rdEuropean Fraud Update for 2019. Based on the report:

  • 17 countries reported payment-fraud issues 
  • Social engineering is among the top concerns
  • 6 countries reportedCard-Not-Present (CNP) fraud  
  • 2 countries reported contactless fraud 
  • 5 countries reportedATM-malware and logical attacks 
  • 13 countries reported card skimming at ATMs 
  • 4 countries reported card-trapping attacks
  • 9 countries reported ram raids and ATM burglary 
  • 12 countries reported explosive-gas attacks

To sum up, a recent study in the field finds a thriving black market for fraudulent credit-card schemes, cybercrime-as-a-service.

Author Bio: Payment industry guru Taylor Cole is a passionate payments expert who understands the complex world of merchant accounts and offers the most honest merchant account comparison in the industry. He also writes non-fiction, on subjects ranging from personal finance to stocks to cryptopay. He enjoys eating pie in his backyard porch, as should all right thinking people.