Why Is Carding the Most Popular Form of Cyber Fraud?
Most Telegram users are already familiar with carding, how it works, and how much money can be made from it. Here is an article based on a resource from Dark Web News that explains why this method of fraud is so popular.
What Is Carding?
Carding is the use of illegally obtained credit and debit card data, issued by various financial institutions, for personal gain. In reality, it’s an entire craft that requires constant skill improvement and experience. But why is this particular type of fraud so popular right now? There are several reasons.
Numerous Ways to Obtain Card Data
Today, there are dozens, if not hundreds, of places where you can buy card data, including:
- Foreign and domestic dark web forums
- Foreign and domestic carding forums
- Data sales via Jabber/Telegram
- Various clearnet carding forums
One well-known forum among carders is the club2crd forum, where sellers from different regions post ads for various card data, as well as offer services like cashing out, drops, and everything else a carder might need. The forum also has a chat open to all logged-in users, but the main issue is that many users speak only Russian, so English-speaking members rarely participate in discussions.
Low Cost of Card Data
Depending on the level, type, and country of origin, the price for a single card’s data usually ranges from $10 to $20. However, reputable sellers may charge more, which often includes a guarantee for your transaction. If you purchase outdated or unusable data, you may be able to get your money back. For example, if your card is dead or has security features that are impossible or very difficult to bypass, the seller will usually refund you if you report the issue promptly.
It’s important to be very careful when buying cards, as sometimes data is sold for cards that have SMS authorization enabled. In these cases, the cardholder will receive a confirmation code via SMS, which will expose the use of their card.
Sellers have access to the card’s BIN number, allowing them to determine the payment system and some indirect information about the card and bank, which helps them identify cards with potentially high balances. There’s also a common trick: offering cards with huge balances but warning that 2FA (two-factor authentication) may be enabled, and refunds are not guaranteed for such cards. This is a blatant scam that you should avoid.
Transferring Money via Various Payment Systems
Online financial services that offer money transfers, such as PayPal, WordRemit, SendWave, Skrill, and Neteller, are very popular among carders because they accept cards as a payment source. Once a card is obtained, it’s added to the platform and linked to an account, after which all available funds are spent or until a limit is reached. Typically, no one actually transfers money from card to card; instead, they buy various goods (electronics, clothing) and have them shipped to a drop address for later resale at 50-60% of the market value.
Many Stores and Services Accept Cards
It’s an obvious fact that about 95% of online stores accept cards as payment, making carding one of the most convenient ways to use stolen data and money. However, sometimes cardholders notice unauthorized transactions and try to resolve the issue through their bank or payment system. In such cases, if the goods haven’t been delivered yet, they likely won’t reach the carder.
Another option is buying various digital goods, which are delivered instantly, but these are often harder to resell.