Technology Fueling Wave of Phishing Scams
On a recent scan read on the articles in the Tech area of the washington post, I paused at an article titled “Technology Fueling Wave of Phishing Scams” By Brian Krebs to give it a thorough read. And It was indeed worth it. It came out very educative.
It started out with a very interesting replay on the virtual interactions that is very common in carding IRC Chatrooms. This article makes the scenarios and the issues humourous whilst still maintaining the gravity of the situation at stake. It began with……
It was just a name, one of dozens flowing by in a little-known Internet chat room for identity thieves. Sandwiched between requests to barter various kinds of ill-gotten data (“Trading one valid [credit card] for my 5mb proxy list or hosting” ... “[need] linux host to put my site on.. i have cvv2’s, msg me to deal”) and inane chatter (“wat u upto?”) came the simple, unadorned lines: “card type: Debit Card … Name: Dallas Thomas … city: Stillwater … state: ok.”
The article went on, relating the various scenarios, which Inadvertently brings about the question, whether there was anything like privacy, especially when it comes to Credit cards online. This question does arise, with the type of information that could be fetched from hacked online databases, just by keying in the credit card number of the victim. Well we can all see that the protocols of validation is bringing about security peril now. Peoples identity is at stake !!
Although many disturbing issues where raised, There was a particular area that cracked me up. Subtitled “Honour among Thives?“. Relaying the scenarios of the possibility of a scammer scamming another scammer.The interchange of scamming itself needs to be secured in the aspect of ensuring that the seller, gets paid for the fraudulent information rendered.An excerpt from that goes like this…..
The seller must find a trustworthy “casher”—someone who will convert stolen credit cards into cash without absconding with more than their agreed-upon portion of the money—while trying to stay one step ahead of law enforcement and corporate sleuths. For the buyer, the tough part is verifying that the data for sale is legitimate and usable.
Its really alarming on the degree this scamming has reached. I am really concerned. The article really brings out everything that goes on underground. The questions that is still left at large are . Would there be a future solution, to bring a halt to this fraudulent transactions ?. andWhat would the future of e-commerce be like, in relation to the security concerns which remains at large?The article anyway is a worth read.
You can read the article Here.