‘Cyber criminals can buy personal identities for less than a can of cola’

LONDON - With a rise in cyber frauds, criminals can now purchase full personal identities for “less than a can of cola”, according to an Internet security firm. The annual Symantec Internet Security Threat Report revealed that the market for stolen personal information, including credit card details, names addresses and dates of birth, grew to such an extent last year that it led to a price war of sorts.

The report found that criminals were increasingly targeting individuals for financial gain “more than ever before”.

And, according to the investigators, the UK suffered the second highest level of malicious online activity in the Europe, the Middle East and Africa (EMEA), with 11 per cent of the region’s total.

However, Germany topped the list with 14 per cent.

It was also revealed that credit card information was the most sought after, and details sold for as little as 40p, while some could even fetch 20 pounds.

While bank account details were priced for about 675 pounds, full identities could be bought for between 50p and 40 pounds.

“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,” the Telegraph quoted Guy Bunker, of Symantec, as saying.

In the report, the scientists covered over 200 countries and monitored hacker communications to know in detail about the Internet black market in stolen information.

Bunker said that the world of online crimes was no longer the preserve of “spotty teenagers” and had become increasingly sophisticated. (ANI)