What Do Cybercriminals Do With Stolen Information?
“You’re the winner! Click this link to gain access to your $1,000 Visa gift card!” $1,000? Think of all the things you could buy with that money. A new phone, a weekend getaway, those overpriced golf clubs that will sit in the garage after their first use (you know it’s true). Every warning about phishing emails you’ve ever heard goes out the window and you click the link.
Maybe malware starts downloading onto your computer immediately; maybe you’re sent to a spoofed website that asks for your personal information. Either way, your data is now in the hands of someone who will use it to hurt you. What will they do with it now, and how can it come back to bite you? Here’s the inside scoop from our cybersecurity experts about what cybercriminals do with stolen information.
Is Cybercrime Really That Profitable?
How do cybercriminals make money? There are a variety of ways, but selling stolen information is one of the most common methods. By 2025, cybercrime is projected to cost $10.5 trillion annually. $10,500,000,000,000. That’s a lot of zeros.
When stealing from the average consumer, like me or you, a cybercriminal might make a few hundred bucks. Unless they’re able to use the information you shared to hack your bank account or steal your social security number. If that’s the case, they could take whatever is in your accounts, open new accounts in your name, or even sell your information on the dark web.
The Dark Web Explained
When people ask us what cybercriminals do with stolen information, “the dark web” is always top of mind. The dark web is a hidden part of the internet that isn’t indexed by search engines and can only be accessed using special software like Tor. It’s where criminals can buy and sell illegal goods and services, including stolen information. You might think this sounds like something out of a movie, but it’s very real.
Stolen credit card information, bank account credentials, and personal information are all for sale on the dark web. Cybercriminals can make a quick profit by selling this information to other criminals who will use it for identity theft or fraud. And it’s not just individuals who are at risk—companies’ sensitive data can also be sold on the dark web, causing significant financial losses and damage to their reputation.
What Happens to Your Stolen Data?
What do cybercriminals do with stolen information? Aside from selling it on the dark web, cybercriminals can use your stolen data in various ways to make a profit. Here are some common scenarios:
Held for Ransom
A modern digital hostage situation—criminals use ransomware to encrypt your data, offering the key only when a ransom is paid. Refusal or delay could lead to permanent data loss or public exposure. And even if you do pay, there’s no guarantee the criminal behind your attack will honor the ransom terms and return your data.
Blackmail Material
Sensitive or embarrassing information can turn into leverage for blackmail, with cybercriminals demanding payment in exchange for silence.
Identity Theft
With enough personal information, a cybercriminal can assume your identity, applying for loans, making purchases, or committing fraud—all in your name.
Account Takeovers
Armed with your login details, criminals can take over everything from your social media profiles to your banking accounts, locking you out and wreaking havoc.
Which Cyberattacks Get the Fastest Results?
Just like the local thug trying to make a quick buck, cybercriminals often opt for the path of least resistance to achieve the maximum impact:
- Malware – Infectious code that can steal, encrypt, or erase your data.
- Ransomware – A digital kidnapping of your data with a price tag for its return.
- Phishing – Deceptive communications designed to trick you into handing over your valuable information.
Understanding these attacks is the first step in building a resilient defense.
How Can You Protect Yourself?
The good news is, despite the ingenuity of cybercriminals, protecting yourself is not as overwhelming as it may seem:
- Educate Your Team: Knowledge is power. Equip yourself and your staff with the knowledge to recognize and fend off phishing attempts and other common threats.
- Implement Robust Security Measures: Use strong, unique passwords. Invest in reputable cybersecurity software that includes real-time monitoring, and don’t forget regular updates and backups.
- Adopt a Framework of Zero Trust: Always verify, never trust blindly. Make authentication a must for accessing any piece of sensitive information.
- Stay Informed: Cybercriminals are always looking for new ways to exploit vulnerabilities. Stay up-to-date with the latest cybersecurity trends and threats to stay ahead of them.
They Can’t Sell It if They Can’t Steal It! Data Security from Common Angle
The best offense is a good defense, and for Michigan business owners, Common Angle is a really, really great defense. Common Angle is a technology provider that offers tailored cybersecurity solutions for businesses of all sizes. With features like real-time monitoring, advanced threat detection, and employee training (to name a few), Common Angle helps prevent cyberattacks before they can even begin.
Prioritize your customers by making them feel secure when they trust you with their sensitive data. Get in touch with Common Angle today to see if we’d be a good fit for your data security.