The cyber crimes industry is constantly growing alongside with global transition to the internet and constant flow of new users. Carders are one of the most ruthless criminals on the web, as they may steal anyone’s personal information and credit card data.
The main aim of carding is to access one’s credit or debit card and steal the available funds. Firstly, the carders obtain the information, which is necessary to make a transaction. They usually use typical methods of hacking in the process: they steal passwords, deploy malware or create phishing websites.
Secondly, the carder sells the card on the dark web. There exist special marketplaces dedicated to selling card information. Several types of information are sold there. The most expensive might cost up to 200$, but they will include all the information necessary: the credit card number, the expiration date, the name of user, the PIN and even the social security number of the card holder or the access to the double-authentication tool of the cardholder.
Stealing money from people’s cards is one of the most serious crimes, which might be committed online. In case, the amounts stolen by carder are high, this person will be definitely sentenced to prison.
This is why carders do anything possible to remain anonymous. They use VPN’s, remote control to desktops of other people, hire people to take parcels for them and so on.
The largest criminal chains are usually undiscoverable for the police, as they involve using a different party at each stage of the carding fraud. In case the police manages to find one member of the group, they cannot usually investigate any further, as the member does not know any other people involved at the process.
The most common strategy of cashing out a stolen card is to purchase a pre-paid card of any popular shop, then sell it to another party. The another party will use the cards to purchase goods in the selected shop and transfer them to the third party. The third party will finally resell these goods, ending the process of money laundering.
The most cases of credit card frauds occur in USA, where the use of credit and debit cards is very common, and where exist more options to cash out the stolen credit cards. However, the other parts of the world are also starting to widely use credit cards, which creates additional space for carders there. Probably, carding will become a global economic problem in the nearest future.