Credit Card Fraud: A Glimpse Into The Underground World Of Carding

In order to stop a cybercriminal, you have to think like one.

Go to dread (The deep web version of Reddit) and see the type of stuff they have.

Get access to their “educational material.”

There was this user who goes by the pseudonym “Ginseng.”

One of the most prominent pioneers of the credit card fraud industry, they reverse engineer payment processors like @stripe and other payment processors and find vulnerabilities.

They use all sorts of anonymization and user imitation techniques to have their fraudulent transactions go through.

One popular scheme in the dark web is:

– Creating a vendor account with the payment processor (e.g., stripe).

– Make a fraudulent e-commerce store.

– Use the stolen credit cards information to process payments through the payment processor.

– Withdraw the funds to a bank drop

– Launder money.

This is just one scheme to make fraudulent transactions. There is a myriad of ways to do such a thing.

This is a very simplified version of this fraudulent scheme, but some “millionaires” (who are nothing but amoral losers with a lot of cash) were created with fraud (e.g., Raymond Abbas)

There was this user who was also defrauding the payment process. His name was KamiSenin, if I remember correctly. He was using Docker instances to defraud payment processors.

He was one of the earlier people who started this, operating since the days of the AlphaBay Market.

Fraud, in general, signifies a lack of foresight. If you observe the history of the web (and dark web), you’ll find that a lot of cybercriminals regret engaging in malicious activities.

Some of these blackhats are very technically adept. I still can’t seem to figure out why they have chosen this road in life.