Commentary

The Price Of Data On The Black Market

Securing a brand's Web site to protect consumer data should be more important than getting a specific page to the top of Google, Bing or Yahoo search engine query results, but we don't hear much about it. It's become one of those hush-hush, "sweep it under the rug and maybe it will go away" subjects. As the amount of first-party data use increases, the need to secure customer information becomes more critical. Here are some reasons why.

McAfee Labs released a study estimating just how much consumer credit card numbers, log-in information and other stolen financial data sell for on the Dark Web, a section of the Internet that requires specific codes or software tools to access, such as the Tor browser. Not to be confused with the "deep Web."

The average estimated price for stolen credit and debit cards ranges between $5 and $30 in the United States; $20 and $35 in the United Kingdom; $20 and $40 in Canada; $21 and $40 in Australia; and $25 and $45 in the European Union. Bank login credentials for a $2,200 balance bank account sell for $190.

The dark Web is also a marketplace for free or subscription-based entertainment login information. HBO NOW and HBO GO accounts were found on the Dark Web selling for less than $10, as well as other cable TV-branded streaming services, according to the report. Premium professional sports streaming services sell for $15.

Hotel loyalty accounts with thousands of points were on sale for $20. Customers legitimately open these accounts at no cost, and there is a market for them, resulting in the loss of accumulated perks that sometimes take years to accrue, according to the McAfee report.

Probably the most time-consuming and damaging is the theft of healthcare records and identities -- not just in the physical world, but online. The report details the theft of a person’s digital identity stolen by cyber thieves. A prospective buyer could take control of this individual’s digital life -- social media, email, and more. 

Security expert Brian Krebs reports that Amazon has added authentication to help customers better secure their accounts from hackers. The feature would require thieves to know the person's username, password, and have access to their mobile device to hijack the Amazon account. The security feature allows users to receive a one-time code via text message, automated phone call, or third-party app, such as Google Authenticator. Banks and credit unions are starting to do something similar. 

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