Report: Stolen data sold over online black market


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January 21, 2011 9:05 AM PST

Report: Stolen data sold over online black market

by Lance Whitney

Cybercriminals buy and sell stolen information using a vast network of online stores, forums, and even social-networking accounts, according to a report released yesterday by PandaLabs.

Posing as a cybercriminal to gain access to this online black market, PandaLabs researchers uncovered a world where the bad guys work together to buy and sell stolen bank account information, credit card numbers, passwords, and other products. Much of this illegal enterprise is done through online stores and forums, but PandaLabs found criminals using Facebook and Twitter accounts to set up shop as well.

Though this black market is relatively open, the security firm discovered that the sellers of stolen data are careful about protecting their anonymity, demanding that their "customers" contact them only through IM or generic e-mail accounts that can't easily be traced.

Read full post here: http://news.cnet.com/8301-1009_3-20029163-83.html

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