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Scammers are selling 3.2 million payment records stolen from Indian cardholders

Scammers are selling 3.2 million payment records stolen from Indian cardholders (Breaches and Incidents)

India now ranks third internationally when it comes to the number of stolen records for sale on the dark web, following the U.S. and U.K. “Criminals continuously search for payment cards from specific banks that provide the highest return on investment, and largely spend money only when confident that they stand to make a profit,” researchers said in a report. Many payment breaches go unreported in India, meaning banks are slow to stop cards from being used for fraudulent purposes, said Stas Alforov, Gemini Advisory’s director of research and development. The median price of the stolen card data in India jumped from roughly $7 in 2017 to $17 last year, Gemini Advisory found. “The rising cost of Indian compromised payment cards and the demand for such cards suggests that criminals have identified multiple reliable ways of monetizing such data,” Alforov said.

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