Sounds complicated, it’s almost a tongue-twister.
It turns out the carders (people using stolen credit card details fraudulently) have worked out how to get money out of the spammers (spamming being massive nowdays)
Fraudsters who deal in stolen credit card data have devised a means to extract money from sponsors of junk mail campaigns.
Carders have signed up as affiliates to spam campaigns, but instead of sending out junk mail themselves they are using stolen credit card data to make purchases from the sponsors of spam campaigns, such as online pharmacies.
The carders earn a cut of these sales of anything between 40 to 50 per cent, the Washington Post’s security site reports, more than enough to make the scam viable.
It’s pretty funny that the people sending the spam out are complaining about this, as they losing money due to the bank charges.
But the sponsors of spam campaigns end up losing out because of charge backs generated when fraudulent purchases are identified. Higher incidents of charge-backs result in higher merchant fees while drawing the attention of banks and credit cards sponsors to dubious businesses. Far from benefiting from increased sales, spam sponsors end up losing out. In this way, card fraudsters are scamming the backers of spam.
Spam sponsors are complaining about been ripped off, a factor that allowed net security firm CipherTrust to identify the new ruse during the course of its work monitoring online spam and fraud forums.
So finally the spammers are getting some payback :D
“Basically, we’re seeing the carders and phishers starting to look for other ways to make money and starting to discuss new methods of making profits from their scams,” CipherTrust research scientist Dmitri Alperovitch said
We need to kill the spammers, spam eww…hopefully this will bankrupt them or something.
Good job carders.
- Hackers Break Into White House Military Network
- spt v0.6.0 – Simple Phishing Toolkit Available For Download
- Russian Cyber-Crime Market Doubled In 2011
- PDF & Image Attachment Spam – The New Problem with E-mail
- Spammers Target Social Networking Sites
- Spammers Harnessing Web Mail Servers – Gmail & Yahoo! Throttled
Most Read in Phishing:
- Twitter DM Phishing Scam - 28,895 views
- yahoo password grabber - 19,047 views
- Digital Underground Offering Cheap Botnets For Hire - 15,099 views