Cyberthieves Creating 57,000 Fake Sites A Week: Lesson In Time Management

Written by Evan Schuman
September 11th, 2010

A security report published Thursday (Sept. 9) concluded that cyberthieves are creating 57,000 new sites every week that exploit major brands, including Amazon (2.42 percent), eBay (23.21 percent), PayPal (1.77 percent), Visa (9.51 percent) and Bank of America (2.29 percent). Although little is surprising in the existence of these rampant phishing sites, we have to be impressed by the time management skills—and business efficiencies—on display here.

One reader, a senior IT executive, suggested tongue-in-cheek that there are a lot of reasons to be impressed by that number: “How did they get these new sites approved by marketing, legal and four levels of product management in that timeframe?” We have to ask, how many rewrites of site text were included and what kind of revision timetable was permitted? Even though this information was not covered by the Panda Security three-month-long study, they are legitimate questions if we’re going to learn any management lessons. Not sure how Amazon feels about getting trounced by eBay (losing with a score of 2 percent compared with eBay’s 23 percent), but how must it feel to be a major brand that is not even worth being ripped off? Sorry, Wal-Mart, even the real Wal-Mart E-mails make consumers clutch their wallets tightly.


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Why Did Gonzales Hackers Like European Cards So Much Better?

I am still unclear about the core point here-- why higher value of European cards. Supply and demand, yes, makes sense. But the fact that the cards were chip and pin (EMV) should make them less valuable because that demonstrably reduces the ability to use them fraudulently. Did the author mean that the chip and pin cards could be used in a country where EMV is not implemented--the US--and this mis-match make it easier to us them since the issuing banks may not have as robust anti-fraud controls as non-EMV banks because they assumed EMV would do the fraud prevention for them Read more...
Two possible reasons that I can think of and have seen in the past - 1) Cards issued by European banks when used online cross border don't usually support AVS checks. So, when a European card is used with a billing address that's in the US, an ecom merchant wouldn't necessarily know that the shipping zip code doesn't match the billing code. 2) Also, in offline chip countries the card determines whether or not a transaction is approved, not the issuer. In my experience, European issuers haven't developed the same checks on authorization requests as US issuers. So, these cards might be more valuable because they are more likely to get approved. Read more...
A smart card slot in terminals doesn't mean there is a reader or that the reader is activated. Then, activated reader or not, the U.S. processors don't have apps certified or ready to load into those terminals to accept and process smart card transactions just yet. Don't get your card(t) before the terminal (horse). Read more...
The marketplace does speak. More fraud capacity translates to higher value for the stolen data. Because nearly 100% of all US transactions are authorized online in real time, we have less fraud regardless of whether the card is Magstripe only or chip and PIn. Hence, $10 prices for US cards vs $25 for the European counterparts. Read more...
@David True. The European cards have both an EMV chip AND a mag stripe. Europeans may generally use the chip for their transactions, but the insecure stripe remains vulnerable to skimming, whether it be from a false front on an ATM or a dishonest waiter with a handheld skimmer. If their stripe is skimmed, the track data can still be cloned and used fraudulently in the United States. If European banks only detect fraud from 9-5 GMT, that might explain why American criminals prefer them over American bank issued cards, who have fraud detection in place 24x7. Read more...

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