Notes from the underground: The next generation of carders - blogs.creditcards.com

One of the most notable increases in cybercrime is in credit card fraud, according to the most recent annual report by the FBI's Internet Fraud Complaint Center. Cybercrime in itself is a booming business, having grown to $240 million in reported crimes to law enforcement in 2007 -- up $40 million from the year before.

The first part of this series covered the secret history of one group of credit carders -- online crooks who deal in stolen credit and debit card account information -- and their flamboyant leader who turned from wanted online fraudster to Ukrainian politician.

And now there's a new generation of carders on the prowl that operate far below the public radar. Dumpster divers (people who dig out personal information from discarded receipts and mail) and skimmers are yesterday's news. Today, credit carders are launching "full-fledged online bazaars full of stolen personal and financial information," says Brian Nagel, assistant director of the U.S. Secret Service's Office of Investigations.

As more people report getting ripped off online, crooks are finding more ways to rip us off. Let's see what they're doing.

Part 2 - Notes from the underground: The next generation of carders

Screenshot of counterfeiting site(Click to enlarge) - To read the full story visit http://blogs.creditcards.com/2008/05/notes-from-the-underground.php

David Munns