Hackers of India

Credit Card Frauds – The money making Ecosystem for Cyber criminals

 Abhinav Singh 



This talk will cover the aspects of what happens after Credit Card details have been sent to the malware authors. There have been many papers and talks on POS malwares and their properties but the aftermath is hardly discussed. The monetization of the stolen information follows a long tail of specialized cyber crime services and underground trades. The entire ecosystem of credit card frauds can be broadly classified into these three steps: 1) Purchase of raw details and dumps 2) Converting them to plastic cash/cards 3) Shop! Shop! Shop!. The focus of this talk will be on the above-mentioned points and how they form an organized network of cyber-crime and how does the credit-card fraud ecosystem work.