Cybercrime and stolen digital information

The UK has begun to count cybercrimes for the first time. But you may be surprised at how little your stolen digital information is worth.

In the UK’s latest crime statistics, fraud and cybercrime have been counted for the first time.  Before these figures are taken into account, overall crime in the UK fell by 8%.  However, the figures suggest that over 7 million fraud and cybercrime incidents were committed over the last 12 months. 

Despite the seemingly high figures, it is safe to assume that cybercrime is still under-reported.  The very act of collecting and publicising the data will surely encourage further reporting.

Cheap as (computer) chips

Perhaps the sheer quantity of cybercrimes being committed is the reason for the seemingly low value of stolen data. 

A new McAfee report (The Hidden Data Economy) explores the market for – and value of stolen digital information on the dark web.  Prepare to be disappointed at the actual value of your stolen digital information:

  • Your stolen credit or debit card will sell for $25 to $45 in the EU – and even less in the UK or US
  • Your bank login credentials can be bought for as little as $190
  • Your online payment service login credentials can be sold for as little as $20
  • Your bank login credentials and a stealth fund transfer to a UK bank can cost as little as $700

Additional sources: BBC News; ITProPortal.