With Stolen Cards, Fraudsters Shop to Drop
Summary: A study called "Drops for Stuff: An Analysis of Reshipping Mule Scams" estimates that roughly 1.6 million credit and debit cards are used in reshipping fraud each year, producing at least $1.8 billion in losses. The scheme pairs "stuffers" who buy stolen cards with operators who recruit U.S. "drops" through work-at-home job scams promising up to $2,500 a month, then ship the carded goods to Moscow, where the study found at least 85 percent of reshipped packages were headed.
What's compelling: The study puts average damage per cardholder at $1,156.93, and a single reshipping service can pull in over $7.3 million a year, mostly profit - a revenue stream the researchers say is a major income source for cybercriminals.
Read the original at Krebs on Security ↗
- Topics
- Fraud & Scams
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