Online data fraud in the UK has become a hot topic as more avenues for data theft are opened to criminals.
Experian states that annual cost of fraud against Brits is £6.8bn and it’s likely to rise unless proper precautions are taken.
If you aren’t savvy with your data, which includes everything from social media logins to financial details, it could end up being available to criminals online through channels like the dark web.
How Much Is Your Data Worth?
Personal finance experts Money Guru conducted research on several Dark Web marketplaces to find the average cost of stolen data. Their findings show that your entire online identity is available for less than £750.
26 of the most commonly used accounts available on the Dark Web, can be purchased for a grand total of £744.30.
This can include usernames, passwords, email addresses and any personal details associated with your account including name, address and phone numbers.
So what data does this include, and how much are we at risk?
Finance (credit cards, debit cards, online marketing, PayPal)
Scammers can buy credit card and debit card details, online banking logins, passwords and PayPal account information
Online shopping (Amazon prime, Groupon, eBay, Tesco)
These details provide a great level of insight into your transactional habits as well as providing criminals the ability to order products through your account via a mail drop.
Travel (Airbnb, British Airways, Uber, Experian)
Criminals can access the basic details you enter to create an account and be able to monitor your travel habits.
Entertainment (Apple ID, Netflix, Spotify, Tidal, Steam)
These details enable criminals to access free entertainment while on the more sinister side it provides password clues to other associated accounts.
Social media (Facebook, Reddit, Instagram, Pinterest, Twitter)
These details are frequently stolen to sell to companies with little scruples about targeted advertising. It’s also a fast track to identity theft.
Email and Communication (AOL, Gmail, Hotmail, T-Mobile)
These logins offer a jump off point for the popular, low-effort practice of spear-phishing – where a malicious actor tries to gain the credentials to more valuable accounts via social engineering and malware.
Why It Pays To Be Data Savvy
Commenting on the research James MacDonald, Head of Digital at Money Guru said “Our research into personal data and how much it’s actually worth on the black market is shocking to say the least. For less than £750 criminals can access not only your bank details, but online shopping, social media and email information too. This just goes to show how vital it is to protect your data where possible to avoid facing costly consequences”
Read more about Money Guru’s research on how much your personal data is worth to criminals.