theDocumentId => 1331560 8 Ways Hackers Monetize Stolen Data

Dark Reading is part of the Informa Tech Division of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them.Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726.

Attacks/Breaches

4/17/2018
11:00 AM
Steve Zurier
Steve Zurier
Slideshows
Connect Directly
Twitter
RSS
E-Mail
100%
0%

8 Ways Hackers Monetize Stolen Data

Hackers are craftier than ever, pilfering PII piecemeal so bad actors can combine data to set up schemes to defraud medical practices, steal military secrets and hijack R&D product information.
Previous
1 of 9
Next

Image Source: Ginger_Cat via Shutterstock

Image Source: Ginger_Cat via Shutterstock

We are long past the era of the 14-year old teenage hacker trying to spoof a corporate or defense network for the fun of it, just because they can. While that still happens, it’s clear that hacking has become big business.

From China allegedly stealing billions of dollars annually in intellectual property to ransomware attacks estimated to top $5 billion in 2017, data breaches and the resulting cybercrime are keeping CISO and rank-and-file security managers on their toes.

Security teams need to be aware of the full range of what hackers do with this stolen data. The crimes range from stolen IP to filing fraudulent tax rebates to the IRS to setting up a phony medical practice to steal money from Medicare and Medicaid patients and providers.

"Hackers will often start by selling data on military or government accounts," says Mark Laliberte, an information security analyst at WatchGuard Technologies. "People are also bad at choosing passwords for individual services and often reuse passwords, which lets hackers try those passwords on the other websites their victims use."

Paul Calatayud, chief security officer, Americas, at Palo Alto Networks, says medical data has become especially vulnerable because many hospitals and medical practices use the same cloud-based ERP or human resources systems and hackers can piece together information and eventually enter a billing or patient information system.

For this slideshow, we explain how hackers monetize the stolen data. The following list is based on phone interviews with Laliberte and Calatayud.

 

Steve Zurier has more than 30 years of journalism and publishing experience and has covered networking, security, and IT as a writer and editor since 1992. Steve is based in Columbia, Md. View Full Bio
 

Recommended Reading:

Previous
1 of 9
Next
Comment  | 
Print  | 
More Insights
Comments
Newest First  |  Oldest First  |  Threaded View
jeremy_wittkop
50%
50%
jeremy_wittkop,
User Rank: Author
4/27/2018 | 6:38:55 PM
Interesting Read
Interesting read. Some of the methods are well known, but there are others that are less apparent until you sit down and think about what could be done with the information being stolen. I think GDPR and other regulations around the world signify that consumers are waking up to the risks associated with thei personal data. The sun is setting on idea that once we give a company our information that they can keep it in perpetuity and sell it to whomever they choose and somehow it will remain safe as it propogates. With so many ways to capitalize on stolen information, it's no wonder why these things continue to happen.
bwagner62
50%
50%
bwagner62,
User Rank: Apprentice
4/23/2018 | 4:46:00 PM
Re: Informative story
More than once in this article, it is stated that users do not choose or create strong passwords and we all know why passwords are not strong, why they are used over and mishandled. But when will we (especially companies) figure out the investment in MFA pays off? So many companies do not want to make an investment in access control or they cheap out with a solution that requires accessing a third party vendor's network. I can only assume that it is more profitable to continue using passwords that we all know are weak.
szurier210
50%
50%
szurier210,
User Rank: Moderator
4/17/2018 | 1:56:46 PM
Re: Informative story
Thanks very much for your comments. Yes, I'm always very concerned that our seniors are vulnerable to hacking attacks and social scams over the phone as well. We do what we can to help people out. 
ChristianP468
50%
50%
ChristianP468,
User Rank: Apprentice
4/17/2018 | 1:44:07 PM
Informative story
This article is very informative and knowing what hackers do with stolen data can help prevent these types of attacks in the future. It is very interesting that hackers sales stolen data that no longer have any value. This set the point that once consumers have been noticed of data breaches that they should take them seriously and change all associated information. Now many companies will force a password change after a data breach (Bonnington, 2018). One thing that was pointed out was how thefts will target elders with small medical bills that elderly people would be most likely to pay.

 

Bonnington, C. (2018). The MyFitnessPal Hack Affects 150 Million Users. It Could've Been Even Worse.Slate Magazine. Retrieved 17 April 2018, from https://slate.com/technology/2018/03/myfitnesspal-hack-under-armour-data-breach.html
Edge-DRsplash-10-edge-articles
I Smell a RAT! New Cybersecurity Threats for the Crypto Industry
David Trepp, Partner, IT Assurance with accounting and advisory firm BPM LLP,  7/9/2021
News
Attacks on Kaseya Servers Led to Ransomware in Less Than 2 Hours
Robert Lemos, Contributing Writer,  7/7/2021
Commentary
It's in the Game (but It Shouldn't Be)
Tal Memran, Cybersecurity Expert, CYE,  7/9/2021
Register for Dark Reading Newsletters
White Papers
Video
Cartoon
Current Issue
The State of Cybersecurity Incident Response
In this report learn how enterprises are building their incident response teams and processes, how they research potential compromises, how they respond to new breaches, and what tools and processes they use to remediate problems and improve their cyber defenses for the future.
Flash Poll
How Enterprises are Developing Secure Applications
How Enterprises are Developing Secure Applications
Recent breaches of third-party apps are driving many organizations to think harder about the security of their off-the-shelf software as they continue to move left in secure software development practices.
Twitter Feed
Dark Reading - Bug Report
Bug Report
Enterprise Vulnerabilities
From DHS/US-CERT's National Vulnerability Database
CVE-2021-23413
PUBLISHED: 2021-07-25
This affects the package jszip before 3.7.0. Crafting a new zip file with filenames set to Object prototype values (e.g __proto__, toString, etc) results in a returned object with a modified prototype instance.
CVE-2021-37436
PUBLISHED: 2021-07-24
Amazon Echo Dot devices through 2021-07-02 sometimes allow attackers, who have physical access to a device after a factory reset, to obtain sensitive information via a series of complex hardware and software attacks. NOTE: reportedly, there were vendor marketing statements about safely removing pers...
CVE-2021-32686
PUBLISHED: 2021-07-23
PJSIP is a free and open source multimedia communication library written in C language implementing standard based protocols such as SIP, SDP, RTP, STUN, TURN, and ICE. In PJSIP before version 2.11.1, there are a couple of issues found in the SSL socket. First, a race condition between callback and ...
CVE-2021-32783
PUBLISHED: 2021-07-23
Contour is a Kubernetes ingress controller using Envoy proxy. In Contour before version 1.17.1 a specially crafted ExternalName type Service may be used to access Envoy's admin interface, which Contour normally prevents from access outside the Envoy container. This can be used to shut down Envoy rem...
CVE-2021-3169
PUBLISHED: 2021-07-23
An issue in Jumpserver 2.6.2 and below allows attackers to create a connection token through an API which does not have access control and use it to access sensitive assets.