In 2020, COVID-19 also impacted the carding market
It’s always nice when trends make sense. And it’s even nicer when professionals watch and analyze those trends for us.
In a report released this morning, Gemini Advisory looked at the carding market in 2020 and how the pandemic does correlate with a significantly decreased demand for Card Present (CP) data on the dark web markets. The breaches associated with greatest CP card sales were the Wawa, Islands Fine Burgers & Drinks, Champagne French Bakery Cafe, and Dickey’s Barbecue Pit.
Somewhat surprisingly, perhaps, the increased demand for Card Not Present (CNP) is not quite as increased as we might have expected, and Gemini analysts provide an interesting discussion of the supply and demand issues.
In 2020, Gemini found that the the largest groups of CNP cards came from the Volusion and Claire’s Boutique breaches.
A second key finding in their report was that Magecart attacks, already popular prior to the pandemic, became even more attractive to those attacking e-commerce sites. And also not surprisingly, we saw the flexibility of criminals as the pandemic resulted in a shift to fraudulent sites offering medical supplies and PPE. As the pandemic and quarantines continued and other items became needed or more attractive, there were corresponding increases in those types of fraud sites.
Read their full report for more findings and explanations.