How Much is Your Identity Worth?

Posted 04/15/2009 at 7:28am | by Paul Lilly

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Don't worry if you weren't voted Mr. or Ms. Popular in your high school yearbook, you're making up for it now whether you realize it or not. You see, there exists a vast underground economy where several individuals are interested in learning everything there is to know about you, such as what credit cards you carry around, your full name, address, and date of birth, and any other personal information specific to you.

The problem is (well, one of many) you're not alone. According to the annual Symantec Internet Security Threat Report (PDF), the market for stolen personal information has ballooned so much in the past year that a price war has erupted. Full personal identities, the report claims, can be had for "less than a can of cola" (or a can of 'pop' if you live in the Midwest or parts of the South).

"This recession-proof underground economy is reaching such a level of growth and maturity that there are signs of a price war developing, as online criminals find it increasingly easy to steal private details, and barter to sell them for bargain prices," said Guy Bunker of Symantec.

The report found that credit card information remains the most prominent underground commodity fetching anywhere from $0.06 to $30. Bank account credentials run considerably higher, up to $1,000, and was the second most stolen data in 2008.