Underground Financial Fraud: H2- 2020

January 28, 2021

As we start to look to the day after COVID-19, consumer trends suggest growing reliance on online transactions is here to stay - along with fraud.

H2-2020 witnessed some surprising trends: the overrepresentation of American Express cards for sale on underground markets, as well as the acute overrepresentation of US cards and sharp decline in compromised Indian cards. While this data might have structural explanations in consumer spending habits and credit card technologies, the segmentation by CVV versus dumps bucks historic trends and assumptions about the pandemic’s effects on this illicit market.

This report will examine financial fraud activity that took place in the deep and dark web during the last six months of 2020 (H2-2020). During this period, 45,033,323 compromised cards were offered for sale in underground credit card markets monitored by Cybersixgill.