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(EMAILWIRE.COM, December 08, 2008 ) Hong Kong — Symantec Corp. (Nasdaq: SYMC) has released its Report on the Underground Economy. The report details an online underground economy that has matured into an efficient, global marketplace in which stolen goods and fraud-related services are regularly bought and sold, and where the estimated value of goods offered by individual traders is measured in millions of dollars. The report is derived from data gathered by Symantec's Security Technology and Response (STAR) organisation, from underground economy servers between 1 July 2007 and 30 June 2008.
The potential value of total advertised goods observed by Symantec was more than US$276 million for the reporting period. This value was determined using the advertised prices of the goods and services and measured how much advertisers would make if they liquidated their inventory.
Credit card information is the most advertised category of goods and services on the underground economy, accounting for 31 per cent of the total. While stolen credit card numbers sell for as little as US$0.10 to US$25 per card, the average advertised stolen credit card limit observed by Symantec was more than US$4,000.
Symantec has calculated that the potential worth of all credit cards advertised during the reporting period was US$5.3 billion.
The popularity of credit card information is likely due to the many ways this information can be obtained and used for fraud; credit cards are easy to use for online shopping and it's often difficult for merchants or credit providers to identify and address fraudulent transactions before fraudsters complete these transactions and receive their goods. Also, credit card information is often sold to fraudsters in bulk, with discounts or free numbers provided with larger purchases.
The second most common category of goods and services advertised was financial accounts at 20 per cent of the total. While stolen bank account information sells for between US$10 and US$1,000, the average advertised stolen bank account balance is nearly US$40,000. Calculating the average advertised balance of a bank account together with the average price for stolen bank account numbers, the worth of the bank accounts advertised during this reporting period was US$1.7 billion. The popularity of financial account information is likely due to its potential for high payouts and the speed at which payouts can be made. In one case, financial accounts were cashed out online to untraceable locations in less than 15 minutes.
During the reporting period, Symantec observed 69,130 distinct active advertisers and 44,321,095 total messages posted to underground forums. The potential value of the total advertised goods for the top 10 most active advertisers was US$16.3 million for credit cards and US$2 million for bank accounts. Furthermore, the potential worth of the goods advertised by the single most active advertiser identified by Symantec during the study period was US$6.4 million.
The underground economy is geographically diverse and generates revenue for cybercriminals who range from loose collections of individuals to organised and sophisticated groups. During this reporting period, North America hosted the largest number of such servers, with 45 per cent of the total; Europe/Middle East/Africa hosted 38 per cent; followed by Asia/Pacific with 12 per cent and Latin America with 5 per cent. The geographical locations of underground economy servers are constantly changing to evade detection.
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"As evidenced by the Report on the Underground Economy, today's cybercriminals are thriving off of information they are gathering without permission from consumers and businesses," said Stephen Trilling, vice president, Symantec Security Technology and Response. "As these individuals and groups continue to devise new tools and techniques to defraud legitimate users around the globe, protection and mitigation against such attacks must become an international priority."
Relevant link
To read additional key findings and obtain more about the underground economy, visit the following resources:
Symantec Report on the Underground Economy XII – go to http://eval.symantec.com/mktginfo/enterprise/white_papers/ent-whitepaper_internet_security_threat_report_xii_09_2007.en-us.pdf to download the full report.
Symantec Internet Security Threat Report XIII – go to http://eval.symantec.com/mktginfo/enterprise/white_papers/b-whitepaper_internet_security_threat_report_xiii_04-2008.en-us.pdf to download the full report.
About Security Technology and Response
Symantec's Security Technology and Response (STAR) organisation, which includes Security Response, is a worldwide team of security engineers, threat analysts, and researchers that provides the underlying functionality, content and support for all Symantec corporate and consumer security solutions. With global response centers located throughout the world, STAR monitors malicious code reports from more than 120 million systems across the Internet, receives data from 40,000 network sensors in more than 200 countries, and tracks more than 25,000 vulnerabilities affecting more than 55,000 technologies from more than 8,000 vendors. The team uses this vast intelligence to develop and deliver the world's most comprehensive security protection against both existing and emerging threats.
About Symantec
Symantec is a global leader in providing security, storage and systems management solutions to help businesses and consumers secure and manage their information. Headquartered in Cupertino, Calif., Symantec has operations in more than 40 countries. More information is available at www.symantec.com.
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Issued on behalf of Symantec
by EBA Communications
For further information please contact:
Emma Jenkins/ Howard Jones (EBA): (852) 2537 8022
Email: Emma.Jenkins@ebacomms.com/howard.jones@ebacomms.com
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Symantec Corp.
Howard Jones
(852) 2537 8022
howard.jones@ebacomms.com 
Source: EmailWire.com
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