Consumer information is becoming increasingly compromised. But where does all of that data go once it is stolen? In many cases, fraudsters turn to what is called the “Dark Web”, a collection of websites that grant users anonymity and can be used to trade and sell data that has been fraudulently obtained. While not all activity performed in the Dark Web is malicious, criminals have exploited the hidden nature of these sites to offer a variety of services as well as sell stolen consumer information. Although these sites are visible publicly, you must know their secret IP addresses and the servers that run them in order to access the sites, making visitors and site runners difficult to track.
The Dark Web is growing in usage and is essential to identify and monitor for several reasons:
The key for an organization is to enable robust identity verification and fraud prevention programs that can monitor access points and software commonly used by fraudsters in the Dark Web such as Tor, Malware, and Botnets. Fraudsters are able to hide themselves by using Tor to conduct transactions. While some use Tor to maintain anonymity, there are others who are using this to access sites that buy or sell identity information, illegal substances, and even human trafficking. Once Tor is detected within a fraud prevention platform, a business can chose to escalate these related transactions to out of wallet questions, or just hard fail. This, along with the ability to monitor and decision off of identified malware and botnets equate to a comprehensive Dark Web defense system for an organization.
Fraudsters do not rest when it comes to finding new ways to obtain and exploit consumer information, so organizations have the responsibility to make sure they are working with legitimate customers during every interaction. Identity verification processes and a fraud prevention platform deter fraud while driving legitimate customer acquisition and decreasing costs. Check out our new Dark Web infographic for more information.