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Cyber crooks exchanging stolen data with ease

Cyber crooks have set up an elaborate network peddling stolen data and other private information and a simple email and a transfer of funds through Western Union is all that is required, reports the Sydney Morning Herald.

An investigation conducted by the newspaper has revealed how easy the information changes hands between cyber crooks with information on a standard Australian credit card costing less than a pound.

In a move questioning reliability of online security systems, the investigators reveal that the crooks claim to be able to bypass some of the latest anti-fraud protection, including Verified by Visa.

According to the newspaper, the hackers are capable of providing any level of information required on the victims whose data they possess.

"One vendor showed a sample customer's bank account number, complete with mother's maiden name, American Social Security number, date of birth, driver's licence number and most of the 16 digits on an ATM card," stated the paper.

The newspaper says most of the information is online and only hackers can access it by entering their technical jargon, which flags up the relevant forums involved in the underground work.

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