Leaking cards for promotion purposes is a common method to increase operations. Last summer, a similar site named 'All World Cards' did something similar, releasing one million cards stolen between 2018 and 2019.
Like other carding sites, BidenCash operators also provide a validity rating for new sales, the score being built after assessing a random batch of 20 cards in new sales. Every new listing is revisited for a new validity check every week, and if the rating differs significantly, it is retracted.
BidenCash also includes a filtering system, allowing threat actors to find stolen cards suitable for their campaigns by searching for specific countries, banks, or entries that have the details they need, like CVV, email, address, card type, or cardholder name.
Card holders should pay attention to charges made to their accounts and report any suspicious activity to their bank. Adding protections such as validating certain purchases or set up charging limits where possible, are good ways to prevent cybercriminals from using stolen cards.
In order to sell products on the site, you need to be reviewed. So if I was going to sell credit cards, what I would have to do is provide a sample of 50 cards to each reviewer. Then they would test them out and then write a review back, and say, "XYZ provided me 50 cards and there was a good mix of classics and platinum and business cards and there was a 98 percent approval rating. So now I vouch for him to be a vendor on the site."
Police say on July 29, a man reported that someone used his credit card to buy five guns online. The victim was charged $2,597. Another victim also told police that someone used her credit card to buy a firearm online. She was charged $2,066.
Security company Easy Solutions monitors carder forums and helps banks and other financial institutions track stolen cards. In a meeting at the RSA Conference, Dan Ingevaldson, CTO fo Easy Solutions, discussed Russia-based carder site ValidShop.
InterfaceThe site has a sleek black interface and is extremely user-friendly. A list of the most recent stolen cards are displayed on the screen, with details such as expiration dates, issuing bank, card type, and country. Customers can see how much money they have in their accounts in the top right corner of the screen and can search for cards to buy. Searches can be as specific as type of card, bank name, and even the country the card was issued. Customers can also request additional types of personal information, such as email address, dates of birth, and phone numbers.
ValidityIt's believed that 40 million payment card details were stolen in the breach at Target. "We haven't seen 40 million hit [carder sites] yet," Ingevaldson said. While the thieves want to move the stolen cards as soon as possible, they also understand basic economics. If they dumped all 40 million at once, that would glut the market with too many cards and drive down prices. Instead, the stolen cards are appearing in smaller batches of several million at a time.
There is a narrow window between when the card data is stolen and when the issuing bank cancels the card because of theft. Even so, it was surprising how high the validity rates were even months after the breach was discovered. Cards from the Target breach that appeared on the site in late January had a 83 percent validity rate, compared to 60 percent for the batch dumped in mid-February. Criminals don't need all the cards in the package to be valid to make money. They can spend hundreds of dollars to buy the data and make thousands per card, Ingevaldson said.
MonitoringEasy Solutions can use the BIN (Bank Identification Number) prefix, the zip code, and some other information to identify which cards were stolen from which stores, Ingevaldson said. The company monitors carder sites and if there is a spike in the number of cards being dumped with similar information, it's a fairly clear indicator "something big" had just happened.
Gift cards are one of the most popular holiday purchases and remain in demand year round. A recent survey reported that 83% of consumers intend to purchase a gift card this holiday season. 51% anticipate spending between $50 and $100 on gift cards, while 24% say they will likely spend between $500 and $5,000.
Unfortunately, fraudsters like gift cards too. There are a variety of schemes they can employ to take advantage of the fact that gift cards have few of the security features that modern credit cards do. Many of these schemes will result in chargebacks, with the merchant left holding the bag. But there are ways for merchants to protect themselves and reduce their revenue losses.
It makes sense that merchants would want to offer gift cards. Customers want them, they increase sales, and they can be a good marketing tool. That doesn't mean that gift cards are all upside, however.
The rapid rise in e-commerce due to COVID-19 brought with it a rise in purchases of online gift cards. More people than ever were suddenly looking for an easy way to send a gift to friends and family they might not see in person, and delays throughout the US postal system made many people wary of purchase gifts that would have to be shipped.
There are two types of gift cards: open-loop gift cards that can be used with any merchant, such as those from Visa or Mastercard, and closed-loop gift cards tied to a single merchant. Most of the information here will apply to both.
If a customer ever wants to return a product and asks to have it refunded to a gift card, watch out. It could be part of a scheme to extract untraceable funds from a stolen credit card. Here's how it works:
Fraudsters simply use stolen credit card numbers to buy gift cards online and use or resell them before the merchant gets hit with the inevitable chargeback. This is one of the easiest ways for a fraudster in possession of stolen payment credentials to make a quick profit.
A more reliable way for fraudsters to wring actual cash out of a stolen account is to buy mass quantities of gift cards, which can be used immediately. Most merchants would benefit from putting a system in place to automatically flag large or repeated gift card purchases for review.
Fraudsters may also copy down the card numbers and activation codes on cards still on the sales rack, using stickers to cover up any scratch-off coverings they removed. As soon as an honest customer purchases and activates one of the cards, the fraudster can start using it.
Because gift cards are a common target for fraudsters, merchants may choose to require additional authentication steps for gift card purchases. It's also wise to block or require additional authentication for purchases over a certain amount or when multiple gift cards are purchased with the same payment card or from the same IP address.
In order to obtain additional customer information, merchants could choose to require the recipient of a gift card to create an account before using it. While many merchants avoid implementing this requirement more broadly over fears of cart abandonment, that's not an issue with closed-loop gift cards.
Merchants should have a way to tie a chargeback on a gift card purchase to the individual gift card number and either block or void the balance on the card. Note that while this is usually permitted as long as the original purchaser of the gift card has been refunded, laws regarding gift cards vary by jurisdiction.
The Shelton Stewart Indictment alleges that from July 2014 to May 2015, Shelton, J. Stewart and Q. Stewart, along with co-conspirator Jamal Moody and others, used Bitcoin to purchase stolen credit and debit card numbers of individuals and businesses from foreign internet websites. They selected and purchased stolen credit and debit card numbers of individuals and businesses holding federal credit union accounts, and those with billing addresses in or near Maryland. They bought magnetic strip card-encoding devices and software to re-encode credit, debit and other cards with the stolen credit and debit card numbers.
According to the Shelton Stewart Indictment, the defendants used the cards they fraudulently re-encoded to buy merchandise, including gift cards, electronic items, and luxury goods, from AAFES stores on U.S. military bases, and other locations in Maryland and elsewhere. They used the merchandise themselves or resold the merchandise.
A few different ways. Sometimes hackers will commit "card-present fraud" by breaching the point of the sale at a physical store. Or they'll commit "card-not-present fraud," by hacking a website and stealing the online card information that gets entered into the checkout page.
After hackers collect this info, they post it to one of the dark web marketplaces where it can be sold. The leaked data from the BriansClub hack showed that stolen cards from U.S. residents made criminals about $13 to $17 each, while those outside the U.S. sold for up to $35.70, Krebs reported. When hundreds or thousands are bought at once, that becomes a lucrative crime.
A stolen credit card or account number could also be one of the first signs of identity theft, so keep an eye out for credit card fraud and be prepared to take steps to mitigate the damage if you find any.
Large institutions, including banks and retail businesses, can be susceptible to targeted data breaches that put your credit card information and other personal details at risk. Some of the biggest data breaches of the last decade, including a Capital One data breach in 2019 and Equifax breach in 2017, have led to tens of millions of consumers having their information stolen.
A Visa representative will be able to assist you in filing a lost or stolen card report. Call us toll-free (1-800-847-2911) or call one of our global toll-free numbers from the drop-down menu at the top of this page.
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