With the Target data breach, many are wondering how criminals can profit from the use of the stolen credit cards. The card holders themselves will not be responsible for any of the charges, so how is it that criminals are able to make money from stolen credit cards?
I have been involved with several cases where organized crime rings have been unveiled, many of these have had connections to Russian and Eastern European groups. These groups generate a significant profit through stolen property acquired through burglaries, shoplifting, identity theft, credit card skimming and carding. Many underestimate the complexity of some of these networks and the revenue they generate.
In this talk I will discuss the stolen credit card market, how it fuels the exploit black market, online retail fraud and other nefarious activities.