Extent of credit card cybercrime unveiled

Bank account and credit card details are among the information fraudsters are selling over the internet to other criminals, it has been stated.

Cybercriminals are increasingly looking to share people's financial details, it has been reported.

Speaking to the Age, Craig Scroggie, Symantec vice-president and managing director for Australia, points out that upon using malware and other viruses to obtain credit card and bank account numbers, criminals then upload such details on to online bulletins to trade with other fraudsters.

Indeed, credit cards were shown to have accounted for a third of all items advertised for purchase on these kinds of websites, with bank accounts making up just under a fifth (19 per cent).

"Credit card details sell in bulk for as little as six cents apiece and up to $30, depending on the type of card and how much credit it can access," Mr Scroggie states.

He adds that as company cards are particularly targeted, an average of $40,000 worth of credit per card is at risk, something that could have an impact on those firms with best business accounts.

Such news comes as Crime Stoppers Australia recently urged businesses to do more to prevent documents containing personal and financial information from falling into the hands of identity thieves.

Written by Joe Letts