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A skimming software is said to have infected multiple e-commerce websites that are frequented by Singaporeans, resulting in the data of more than 1,700 credit cards being stolen and sold on the Dark Web in a single database – one of the biggest cases here.
Singapore-based cybersecurity firm Group-IB said that this database is one of the many that have contributed to the 26,102 compromised payment cards issued by Singapore banks that it has found sold on the Dark Web from January to August this year. The estimated underground value of these cards is US$1.8 million (S$2.5 million).
The firm said that online card skimmers use malicious software designed to intercept payment card details from infected websites and sell the data on the Dark Web, which is a part of the Internet that is accessible only through special software, allowing users to remain anonymous or untraceable.
The case involving the e-commerce websites contained details belonging to 1,726 payment cards issued by Singapore banks.
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