is3350 unit 8 assignment

is3350 unit 8 assignment - SAMUEL KWAW IS3350 SECURITY...

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SAMUEL KWAW IS3350 SECURITY ISSUES IN LEGAL CONTEXT UNIT 8 ASSIGNMENT ORGANIZED CYBERCRIMES The potential value of engaging in cybercrime would not exist without this current market for stolen data. In the market system the unit value of goods and services fluctuates with supply and demand. Enormous disclosures of magnetic stripe data in recent years have effectively flooded the information black market, saturating it with “dumps,” or credit card magnetic stripe sequences sufficient for counterfeit. This market saturation has driven the price down to a point where magnetic-stripe information is close to worthless. The value associated with selling stolen credit card data have dropped from between $10 and $16 per record in mid- 2007 to less than $0.50 per record today. Supply has increased and prices have fallen, criminals have had to overhaul their processes and differentiate their products in order to maintain profitability. In 2008, this was accomplished by targeting points of data concentration or aggregation and acquiring more valuable sets of consumer information. The big money is now in
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