Shoppers leave a retail Target on Thursday, Dec. 19, 2013, in Hackensack, N.J. Target says that about 40 million credit and debit card accounts customers may have been affected by a data breach that occurred at its U.S. stores between Nov. 27 and Dec. 15. (AP Photo/Northjersey.com, Amy Newman) - AMY NEWMAN — AP
The nightmare before Christmas continues for Target.
Stolen customer information from a Target security breach, that involved the in-store point-of-sale system has alread started flooding the black market, according to numerous people in the fraud industry tracking the situation.
On Dec. 11, exactly one week after hackers breached Target’s systems, EasySolutions, a company which tracks fraud has noticed a ten- to twentyfold increase in the number of high-value stolen cards on black market websites from nearly every bank and credit union.
The black market for stolen credit card and debit card numbers is highly sophisticated, with numerous card-selling sites that are indistinguishable from a modern-day e-commerce site (They look like legitimate e-commerce sites). Many of the sites sell the cards in bulk to account for the possibility of thr cards being cancelled. So go for as little as Some go for as little as a quarter, but corporate cards can sell for as much as $45.
Security blogger Brian Krebs, who was the first one to break the news of the Target security breach on his website, says that some Target customers' high-value cards were selling for as high as 100 on exclusive black market sites.
Security experts say the higher the limit on the card are more valuable to criminals, who can use them to make purchases, burn the information to make counterfeit cards or buy gift cards that can be exchanged for cash.