"Here's What Cybercriminals Do to Your Stolen Data, According to a University of Guelph Cybersecurity Expert"
According to Dr. Ali Dehghantanha, cybersecurity professor and director of the University of Guelph's Cyber Science Lab, what hackers do with the data they steal depends on the nature of the leak and the type of data compromised. He emphasizes that hackers can use data stolen during a breach to commit various other crimes. According to Dr. Dehghantanha, what most cybercriminals do after they obtain a large amount of data is rank the data based on its value. When a large amount of data is leaked, cybercriminals use techniques that enable them to compare the data to publicly available information, allowing them to rank the value of the personal information. For example, they will try to determine which information is associated with a social networking account in order to learn more about the owner. Some cybercriminals will auction off stolen data on the dark web to the highest bidder, while others will sell the data in bulk. On average, stolen credit card information is worth between $1 and $20 per account. Others, however, can be sold for as much as $120, according to the Dark Web Price Index. A hacked Facebook account costs $45, whereas a stolen online banking credential costs around $65. Other advanced cybercrime gangs that have built their networks directly pass and sell stolen data to various groups specializing in other malicious activities. Hackers who obtain personal information such as full names, birthdates, and social security numbers may sell it to identity theft groups. Criminals can then use a person's identity to obtain loans, open accounts, get services they are not entitled to, create forged documents, and more. Stolen contact information may be used in social engineering attacks involving psychological manipulation to induce fear, curiosity, or panic in order to get the victim to reveal sensitive information or grant additional access to their device or network. This article continues to discuss Dr. Dehghantanha's key points on what cybercriminals do with stolen data and what those whose data have been exposed should do to protect themselves.