Prototype Nation

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SECTION 2 Carding: Ever-thriving criminal enterprise backed by innovation
Carding: Ever-thriving criminal enterprise backed by innovation The noncash transaction volume in China has drastically grown over the past two years, made apparent by the adoption of electronic and mobile payment means. Alongside countries in the “emerging Asia” group 6 , China is expected to register a 27% noncash payment growth rate, driven by increased Internet use and mobile payment transactions. Cybercriminals quickly jumped on the noncash payment bandwagon. They now offer carding devices like PoS and ATM skimmers to interested buyers at fairly reasonable prices. Despite the development of mobile payment systems as PoS terminal alternatives, most SMBs still favor the use of PoS systems for receiving payment. SMBs have thus become easy carding scheme targets. Carding has to do with unsavory forums and websites involved in the increasingly regimented process of stealing and laundering credit card information 7 . Various publicly accessible websites sell PoS, ATM, and credit card pocket skimmers. Skimmers refer to devices that extract data from payment card magnetic strips 8 . In a previously published in-depth study of PoS malware 9 , we said skimmers cannot be readily mass deployed for maximum effectiveness; the Chinese underground has now proven otherwise. Credit card fraud made headlines in February last year, when an individual from Hangzhou was tried in the United States (US) for a successful spam run 10 that cost card providers roughly RMB 5,130,000 (~US$808,855). 11 | <strong>Prototype</strong> <strong>Nation</strong>: The Chinese Cybercriminal Underground in 2015
Page 1 and 2: Prototype Nation The Chinese Cyberc
Page 3 and 4: Two years after publishing our last
Page 5 and 6: Leaked-data search engines: Intel g
Page 7 and 8: SheYun also has a government databa
Page 9: Apart from SheYun, paid engines tha
Page 13 and 14: Some of the PoS skimmers sold under
Page 15 and 16: ATM skimmers In March 2014, we saw
Page 17 and 18: Pocket skimmers are small magnetic
Page 19 and 20: Figure 18: Forum post that offers t
Page 21 and 22: Market offerings: As robust as they
Page 23 and 24: Service Details 2013 price 2014-201
Page 25 and 26: References 1. Lion Gu. (3 September

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