Stolen identities on sale for "less than can of cola"

Fraudsters are selling personal information, such as credit-card details, for as little as 40p

Ali Hussain

 

Fraudsters are able to barter personal details online for "less than a can of cola", according to a new report.

 

The online market for stolen identities is on the increase with fraudsters touting personal information, including credit-card details, names, addresses and dates of birth for as little as 40p, according to the security software firm Symantec.

 

Its research reveals that criminals are targeting individuals for financial gain "more than ever before". The UK had the second highest level of malicious online activity in the Europe, with 11 per cent of the region's total. Germany topped the league with 14 per cent.

 

Credit-card information is the most sought-after with details selling for as little as 40p, although some could fetch £20. Bank account details sold for as much as £675, while full identities could be bought for between 50p and £40.

 

Guy Bunker, of Symantec, said: "This recession-proof underground economy is reaching such a level of growth and maturity that there are signs of a price war developing, as online criminals find it increasingly easy to steal private details, and barter to sell them for bargain prices."

 

He added that the world of online crime was no longer the preserve of "spotty teenagers" and had become increasingly sophisticated.

 

Last year, Symantec researchers uncovered 1.6 million malicious threats – where something harmful to the computer was downloaded. It observed a 192 per cent increase in spam – unsolicited emails – with 349.6 billion spam messages sent in 2008.

 

Hackers typically steal the information from computers by spreading viruses, called Trojans and Worms, that record the keystrokes made as users log on to their online banking or e-mail accounts. They then tout the stolen passwords on internet chat-rooms frequented by criminals who swap the data for cash.

 

Symantec, which produces online security software, such as Norton Anti Virus, emphasises the need to keep up to date with your protection. Failure to do so could make it easier for fraudsters to access your computer details, especially if you are constantly online through a broadband connection.

 

You can buy anti-spyware and anti-virus software from the likes of Symantec and McAfee, although there are plenty of free options which work just as well for most users. Anti-Virus Guard (www.free.avg.com) offers good all-round free anti-virus software while Zone Alarm (www.zonealarm.com) offers a free "basic firewall" which prevents hackers from accessing your files without your permission.

 

If you are worried that you may have been a victim of fraud, you can check your credit rating by contacting the credit reference agencies Callcredit, Equifax and Experian. It costs £2 for each file.

 

You can also register with Cifas, the fraud-prevention service, for £13.80. This earmarks your details. When you apply for a financial product, you will be asked further security questions to confirm your identity.