While Halloween is all about dressing up as someone else and hiding behind a mask, fraudsters do this all year around.
The dark web, not to be confused with the spider web, is a site where identity thieves can buy or trade sensitive information in order to commit identity theft. This hidden criminal marketplace amplifies fraud risk for finance departments all over the world.
Fraud economy of scale The dark web has turned fraud into a business model, with criminals offering stolen data as a marketable product, complete with discount pricing, customer service, product lists, and sales events. Personal and financial data are goods and services in the fraud economy, driving demand for more, and larger, data breaches.
A la carte crime Criminals no longer need to steal every piece of data required to perpetrate a fraud; rather, they can create bespoke datasets a la carte. The dark web enables fraudsters to connect with one another and shop for custom stolen datasets.
Criminals are also creating massive datasets numbering billions of records made of material from numerous previous breaches. In January 2019, an anonymously posted dataset called "collections 1–5" contained nearly 2.2 billion records.
Changing risks Fraudsters’ ability to gather such massive datasets has changed the types of crimes they are committing. Gone are the days of a few hundred dollars charged on a compromised credit card. With the vast troves of data that they are able to assemble on the dark web, criminals can now create much more elaborate fraud schemes like invoice fraud, business email compromise, payroll fraud, and many others with the vast troves of data.
RAALS allows you to search for activity on the Dark Web. It works like the OSINT functionality, with a connection to Tor. The use of these methods allows one to search for the alerts of a breach.
Learn more about Raals modules: https://www.salviol.com/solutions
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