NEW YORKâThe number of credit cards for sale on the dark web has roughly quadrupled over the past two years, with a 135% increase from the first half of 2017 through the first half of 2018, according to a new report from cybersecurity research firm IntSights examining threats facing financial institutions.
In addition, IntSights found that rather than hacking into corporate systems, cybercriminals are now creating fake mobile banking applications and social media pages under the guise of credible financial institutions to obtain consumers' financial information. More than one-third of mobile banking users have been fooled by fake applications, noted NAFCU in its analysis.
IntSights' report included last year's Equifax data breach, which revealed the personal financial information of more than 147 million Americans, as one of the most notable data breaches. A NAFCU Economic and CU Monitor survey after the breach announcement revealed 63% of credit unions were "very concerned" about another Equifax-type data breach.