The European Cybercrime Center has once again taken action against credit card fraud and is set to reveal a success of a similar scale to that of its 2020 campaign which saved 40 million euros in losses.
Jorge Rosal Cosano, team leader at the European Cybercrime Center (EC3), told CyberCrimeCon 21 today – an event hosted by threat research and security software company Group-IB – that 2021 has seen an increase in denial of service attacks accompanied by ransom demands. Another very 2021 attack is phishing which spoofs messages from parcel delivery companies.
Credit card fraud has also persisted, with criminals waging ongoing campaigns to acquire card numbers and use them to make unauthorized purchases. Cosano explained how EC3 resolved to reduce the impact of carding by trying to find card numbers before they were used so that the Center could notify banks and victims as soon as possible.
Carders know they need to protect the transport of card numbers obtained from online stores with poor security, so much of the data they store is masked to hide the fact that they are recording. credit card numbers. Cosano said Group-IB helped find hidden data.
Sometimes an exploded store still has unmasked data available for EC3.
Regardless of how the data is obtained, Cosano said this year’s campaign has once again given good results. The 2020 effort saw 90,000 card data analyzed and € 40 million in losses averted, and Cosano predicted “We hope to have similar results in the coming days.”
IB group already has claims he helped a three-month campaign that avoided 14 million euros in losses for European banks. ®