Posted 04/15/09 at 10:28:40 AM by Paul Lilly

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.

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Posted 11/24/08 at 03:00:00 PM by Paul Lilly

While fears of a recession are the on the minds of those looking to make an honest living, unscrupulous hackers are thriving in an underground economy worth billions of dollars. The revelation comes as part of new report released today by Symantec titled "Report on the Underground Economy."

The eye-opening report reflects activity on underground economy servers observed by Symantec between July 1st, 2007 and June 30th, 2008. During that time, Symantec claims to have witnessed 44,752 unique samples of sensitive information publicly posted on various servers. These samples, which represent 10 percent of the total distinct messages, serve as proof that the seller in question has the information they claim to have, as well as to show potential buyers the quality of goods they can expect to receive.

According to Symantec, credit card information reigns supreme and accounts for nearly a third of the total. Credit cards were seen selling for as little as $.10 to $25 per card, despite an average advertised limit of $4,000. When added up, Symantec calculated the total potential worth to be in the neighborhood of $5.3 billion.

But that number doesn't take into account  stolen financial accounts, which makes up 20 percent of the total. Stolen bank accounts were seen seling for between $10 and $1,000 with the average balance hovering at nearly $40,000. By Symantec's math, that puts the total worth at $1.7 billion, or around $7 billion for credit cards and bank accounts combined.

Surprised? Hit the jump and post your thoughts.

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Posted 11/17/08 at 02:05:44 PM by Paul Lilly

It's that time of year again when scorching hot deals start to scatter the web in anticipation of Black Friday, one of the biggest online shopping days of the year. Despite still being almost two weeks away, several retailers have already posted Black Friday ads, giving bargain hunters a head start. But lest the hunter becomes the hunted, buyers should take caution not to fall prey to identity thieves.

According to the FTC, consumers were stung for more than $1.2 billion in losses last year as a result of identity theft and fraud. Consumers, who are already stretched thin amid a struggling economy, should be extra cautious this shopping season.

"While the holiday season is surely a time for cheer and celebration, it is also a time when identity thieves are waiting for the perfect opportunity to pounce on unsuspecting consumers," said LifeLock CEO Todd Davis. "Whether it takes place at shopping malls or online, identity theft can increase over the holidays."

Most, if not all of LifeLock's recommended safety precautions will rank as obvious to seasoned shoppers and the tech savvy alike, but they're worth brushing up on before going on that holiday spending spree.

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