Cybercriminals create platform for credit card details theft

Monday 3 November 2014 13:45 CET | News

Cybercriminals have developed a tool for stolen credit card details before payment processors detect the fraud.

A web-based application called the Voxis Platform is being advertised on underground forums as a tool for cashing out money from stolen credit cards by automating fraudulent purchases, according to security researchers from cybercrime intelligence company IntelCrawler.

Cybercriminals can steal merchant accounts or open rogue ones by setting up dummy ecommerce websites and using fake identity documents or money mules. Their main problem, however, is racking up a large number of fraudulent charges before theyre detected and their merchant accounts get closed, the IntelCrawler researchers said.

The platform started being advertised on underground forums in August and allows cybercriminals to charge predetermined amounts from credit cards loaded into the system at chosen time intervals, emulating real purchases. It also uses people search services like to automatically fill in missing card information.

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Keywords: cybercriminals, credit card, web fraud, online security, cybercrime
Categories: Fraud & Financial Crime
Countries: World
This article is part of category

Fraud & Financial Crime

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