Friday, August 31, 2007

On the Latest in Sociopathic Behavior

Writing at the CSO site, Joe Basirico examines a new twist in identity theft. An excerpt:

I was just interviewed by a local news station about a story they were doing on daring hackers that have started advertising their abilities to destroy a person’s life for as little as $20 per month. Apparently the deal goes something like this: you make a deal with a hacker to destroy somebody’s life by signing them up online and the hacker will ensure the target can’t get a good job, can’t apply for credit cards, will be denied for loans, etc. The interviewer wanted to know if I thought that this was really happening or if it was some kind of joke and was really that easy.

I’m not in the revenge business myself, but I suspect that this is a great way for the hacker to get a little extra money for something they do anyway. Last time I checked, the going rate on the black for a “full identity” (enough information to become another person) is up to $5 in some countries. If we apply the supply and demand model that seems to mean there is a wealth of supply but lagging demand.

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