All Your Cards Are Belong To Us: Understanding Online Carding Forums Andreas Haslebacher, Jeremiah Onaolapo, and Gianluca Stringhini University College London
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[email protected] Abstract—Underground online forums are platforms that The sales volumes thus generated appear to be substantial. enable trades of illicit services and stolen goods. Carding forums, It is estimated, for example, that the closure of several credit in particular, are known for being focused on trading financial card related forums in 2012 prevented international fraud to the information. However, little evidence exists about the sellers that tune of £500 million [2]. It is therefore important to understand are present on active carding forums, the precise types of products the characteristics of these online forums and the activity of they advertise, and the prices that buyers pay. Existing literature cybercriminals using them. focuses mainly on the organisation and structure of the forums. Furthermore, studies on carding forums are usually based on literature review, expert interviews, or data from forums that The body of research into underground forums is growing have already been shut down. This paper provides first-of-its-kind but still limited. In particular, there are only a few studies avail- empirical evidence on active forums where stolen financial data is able about credit card related forums. These studies mainly traded. We monitored five out of 25 discovered forums, collected focus on the organisation and the structure of the forums posts from the forums over a three-month period, and analysed but less on the content itself, that is, the products traded them quantitatively and qualitatively.