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As Online Data Theft Escalates, Banks Look to Retailers to Bear the Losses

As Online Data Theft Escalates, Banks Look to Retailers to Bear the Losses

September 30, 2015

Via: itCurated

On Sept. 1 last year, the website Rescator, known as the “Amazon.com of the black market,” alerted its customers that huge quantities of stolen debit and credit card data would go on sale the next day.

“Load your accounts and prepare for an avalanche of cash!” the website urged.

The next day, two batches of cardholder data were reportedly sold, according to legal documents. The website claimed the cards were 100 percent valid and working. Demand was so high that the website temporarily crashed. Over the next few days, several more batches of card data were sold.

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