Hackers generally don’t infiltrate business databases purely for the thrill or intellectual challenge. They’re in it for the money. However, the person with the skills and tools to hack into databases doesn’t necessarily know how or have the inclination to exploit the information for maximum profit. The value of much of the information they steal isn’t always obvious to them. If it is, they may lack the expertise to pull off the necessary scam. This is where the information black market comes into play.
The information or data black market brings together the data thieves and the criminals who know how to use the data. It consists of online websites or forums, not unlike eBay, in which the sellers have feedback scores based on the buyers’ experiences with them. Some of these places are readily found if you know where to look, while others are in the dark web of the Internet. If your business data is breached, there’s a good chance your data and that of your customers will end up in one of these places.
If your compromised customer data didn’t include their credit card information, it can still be exploited in ways that ultimately cause harm. Names, addresses, and similar information can be used to fabricate fake ID cards for various nefarious purposes.
For example, a person’s health insurance medical policy number, name, and birth date might be enough information to fabricate a fake ID card that allows a criminal to get free drugs or medical equipment, which they can sell elsewhere. No matter what the information is, there will be buyers at these black markets who will know how to profitably use it.
The point of the above is there’s a strong economic incentive for cyber criminals to steal your business data. The profit incentive also drives innovation in the techniques and software that hackers use to get to your data. This is why you can never let down your guard. If you don’t have the time to become a cyber security expert and lack the resources to prevent a data breach, consider using WHOA.com’s managed security services. Contact us to learn more.