Cybercrime worth £185m a year

Online fraud is a thriving global market according to a report carried out by internet security firm Symantec.

The year-long study, Report on the Underground Economy, revealed that the potential value of stolen goods from credit card numbers to bank account information, was worth $276m (about £185m).

Credit card numbers made up 31 per cent of the goods on offer in this underground economy, selling from as little as a few pence to upwards of £20.

Symantec noted that credit card information is often sold to fraudsters in bulk, with discounts or free numbers thrown for bulk buyers.

Stolen bank account information was the second most popular sale item on the internet, with prices beginning at a few pounds per account and going up into the hundreds.

Stephen Trilling of Symantec said cybercriminals were thriving and called for the problem to be treated as an international priority.

www.symantec.com

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