Hackers stealing millions of debit and credit card accounts from customers at Target has dominated the headlines. But what happens to all that stolen data?
Well, it’s up for sale. And in some cases, banks are the ones paying off the crooks to get the information back.
Security expert Neal O’Farrell says there are many sites now selling the credit and debit card numbers that were stolen from Target customers.
“Here we have a Discover card. It’s selling for $39,” says O’Farrell.
So, who is buying them?
Well, anyone can, but right now some of the primary customers are the banks themselves, trying to limit the damage.
“They sell them to not the highest bidder, but any bidder,” says O’Farrell. “It’s almost like a kind of ransom.”