Revealed – how much is personal information worth on the dark web?

Revealed – how much is personal information worth on the dark web? | Insurance Business America

Insurance News

Revealed – how much is personal information worth on the dark web?

Global report reveals how banking data can be bought for shockingly low prices

Insurance News

By
Ryan Smith

An individual’s personal information can be worth more than $1,000 on the dark web amid a spike in cyber crime and identity fraud, according to a new study by cybersecurity researcher Privacy Affairs.

Privacy Affairs’ Dark Web Price Index study, which gathered data from dark web marketplaces, forums and websites, found that online banking credentials, credit card information, and social media credentials can be purchased online for shockingly low prices:

Online banking login information costs an average of $100
Full credit card details and associated data cost between $10 and $100
A full range of documents and account information that will allow identity theft can be purchased for about $1,000

The study said that stolen credit card details are usually formatted as a simple code that includes the card number, expiration dates and CVV, as well as account-holder data like address, email address and phone number.

Stolen online banking logins with a minimum of $100 in the account: $150
High-quality US driver’s license: $500
Hacked Facebook account: $25
Stolen credit card information: $110
High-quality US identification card: $200

Read next: How well do your clients know their data privacy risks?

Forged documents like driver’s licenses, passports and insurance cards can be ordered to match stolen information, Privacy Affairs said.

Criminals can switch US identification to a European passport for an additional $3,000, Privacy Affairs said.

“If someone gets their hands on your financial details or social media credentials, the prices mentioned above are basically what it’s worth to them,” said Miklos Zoltan, security researcher at Privacy Affairs. “There’s a good chance that you value these things much more than they do, as to them you’re just another mark for a quick buck.”

A recent study from OpenText Cybersecurity said that businesses needed a multilayered cybersecurity approach as cyber threats continued to evolve.

Have something to say about this story? Let us know in the comments below.