How Much Does Your Stolen Identity Cost?
If you've even glanced at the news over the past year, you'll know that data breaches and identity theft have become epidemic. Have you ever wondered how much crooks are making from your stolen data?
There's a lot of information out that that can be stolen. Credit card credentials, health records, bank information, social media account logins... the list goes on.
So what do hackers do with all the information they've stolen from you?
They sell it on the dark web.
Yes, the dark web is a real thing. It's not just a MacGuffin device used on CSI: Cyber. To access it you have to use Tor, a special anonymizing software. From there you can access internet black markets that trade in all kinds of illicit wares, including stolen identities.
Credit card information can be bought for a few measly bucks, health records for $50. Bank accounts vary depending on how much is in them, but they can go for upwards of $1000. Social media logins can be had for about $50 also, while you can get a completely new identity along with a utility bill for verification purposes for $350 or so. A driver's license can go for up to around $150 and you can get a fake social security card for between $250 and $400.
Crooks and ne-er-do-wells aren't the only people paying for stolen information though. Companies who were hacked shell out an average of $154 per set of stolen data, which is up almost 25% from last year. Retailers pay $165 per while healthcare companies pay $363 per record! Costs include computer forensic work and things like credit monitoring or identity theft programs for the victims. As you can see, the costs really add up.