Data Thieves in Action: Examining the International Market for Stolen Personal Information (Palgrave Studies in Cybercrime and Cybersecurity)

This book examines the practices of cybercriminals who steal and sell personal information acquired through various means, including mass data breaches, to engage in cybercrime and fraud. Using data from multiple English and Russian language web forums, the authors identify the range of products sold in these active on-line marketplaces and the prospective profits earned by these actors. The social organization of these markets is analysed using sociological theory to understand the sophistication of the markets. Social network analyses of the relational networks of participants are also utilised to examine their sophistication and structure. In doing so, this work will contribute to the development of cybercrime studies, and will appeal to both social and computer scientists alike with an interest in the human aspects of cybercrime. Thomas Holt is an Associate Professor in the School of Criminal Justice, Michigan State University, USA. He has published extensively on cybercrime and cyberterror, and has received multiple grants from the National Institute of Justice and the National Science Foundation to examine malware writers, data thieves, and hackers using on-line data. Olga Smirnova is an Assistant Professor at the MPA program, Political Science Department, East Carolina University, USA. Her research interests include social networks, institutional stability, economic development, performance measurement, and visualizations of complex systems. She teaches various courses at graduate and undergraduate levels, including economic development, public budgeting, and professional papers. Yi Ting Chua is a PhD student in the School of Criminal Justice, Michigan State University, USA. Although gender and criminal justice systems have been her primary interests, she is also interested in how policing, domestic violence, and comparative criminal justice interact with the dynamics between gender and criminal justice Dedication 6 Acknowledgments 8 Contents 10 Chapter 1: Introduction 11 Dealing in Dumps: The Market for Stolen Data 12 Situating the Market for Data in the Larger On-line Illicit Economy 15 The Present Study 18 This Work 24 References 25 Chapter 2: The Marketing and Sales of Stolen Data 29 The Distribution of Products in the Market 30 The Advertising Process and Distribution of Products on the Market 35 Connecting Buyers and Sellers 38 Exploring the Origins of Stolen Data 48 Summary 51 References 52 Chapter 3: The Economic Impact of Stolen Data Markets 54 Research on the Economics of Cybercrime 55 Assessing the Forces Shaping Market Pricing 58 Estimating the Economy of Stolen Data Markets 64 Estimating the Profits of Data Sellers and Buyers 67 Estimating Seller Profits 72 Summary 78 References 80 Chapter 4: The Social Organization of Actors in Stolen Data Markets 82 Social Organization Frameworks 83 Examining Social Organization in Stolen Data Markets 85 Assessing Mutual Association and Participation in the Forums 87 Division of Labor Between Market Actors 91 Extended Duration of the Markets 99 Summary 101 References 102 Chapter 5: Visualizing the Networks of Economic Transactions and Ads in Stolen Data Markets 105 Social Network Analysis in Research on Stolen Data Markets 106 Social Network Analyses Applied to Stolen Data Markets 108 Low Density and Network Efficiency of Forums 113 Network Components 116 Visualizing Economic Activity and Centrality 117 Stolen Data Market Structure 126 Summary 137 Notes 138 References 138 Chapter 6: Implications and Conclusions 140 Market Economics 141 Considering the Social Organization of Data Markets 145 Implications for Policy and Practice 148 Limitations of the Current Study 156 References 158 Index 162 This book exmaines the practices of cybercriminals who steal and sell personal information acquired through various means, including mass data breaches, to engage in cybercrime and fraud. Using data from multiple English and Russian language web forums, the authors identify the range of products sold in these active on-line marketplaces and the prospective profits earned by these actors. The social organization of these markets is analysed using sociological theory to understand the sophistication of the markets. Social network analyses of the relational networks of participants are also utilised to examine their sophistication and structure. In doing so, this work will contribute to the development of cybercrime studies, and will appeal to both social computer scientists alike with an interest in the human aspects of cybercrime Front Matter....Pages i-ix Introduction....Pages 1-18 The Marketing and Sales of Stolen Data....Pages 19-43 The Economic Impact of Stolen Data Markets....Pages 45-72 The Social Organization of Actors in Stolen Data Markets....Pages 73-95 Visualizing the Networks of Economic Transactions and Ads in Stolen Data Markets....Pages 97-131 Implications and Conclusions....Pages 133-154 Back Matter....Pages 155-157