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Why forums? An empirical analysis into the facilitating factors of carding forums

Why forums? An empirical analysis into the facilitating factors of carding forums
Why forums? An empirical analysis into the facilitating factors of carding forums
Over the last decade, the nature of cybercrime has transformed from naive vandalism to profit-driven, leading to the emergence of a global underground economy. A noticeable trend which has surfaced in this economy is the repeated use of forums to operate online stolen data markets. Using interaction data from three prominent carding forums: Shadowcrew, Cardersmarket and Darkmarket, this study sets out to understand why forums are repeatedly chosen to operate online stolen data markets despite numerous successful infiltrations by law enforcement in the past. Drawing on theories from criminology, social psychology, economics and network science, this study has identified four fundamental socio-economic mechanisms offered by carding forums: (1) formal control and coordination; (2) social networking; (3) identity uncertainty mitigation; (4) quality uncertainty mitigation. Together, they give rise to a sophisticated underground market regulatory system that facilitates underground trading over the Internet and thus drives the expansion of the underground economy.
Yip, Michael
78566995-aa68-4842-976b-cd98c98d8c67
Shadbolt, Nigel
5c5acdf4-ad42-49b6-81fe-e9db58c2caf7
Webber, Craig
35851bbe-83e6-4c9b-9dd2-cdf1f60c245d
Yip, Michael
78566995-aa68-4842-976b-cd98c98d8c67
Shadbolt, Nigel
5c5acdf4-ad42-49b6-81fe-e9db58c2caf7
Webber, Craig
35851bbe-83e6-4c9b-9dd2-cdf1f60c245d

Yip, Michael, Shadbolt, Nigel and Webber, Craig (2013) Why forums? An empirical analysis into the facilitating factors of carding forums. ACM Web Science 2013, Paris, France. 02 - 04 May 2013.

Record type: Conference or Workshop Item (Paper)

Abstract

Over the last decade, the nature of cybercrime has transformed from naive vandalism to profit-driven, leading to the emergence of a global underground economy. A noticeable trend which has surfaced in this economy is the repeated use of forums to operate online stolen data markets. Using interaction data from three prominent carding forums: Shadowcrew, Cardersmarket and Darkmarket, this study sets out to understand why forums are repeatedly chosen to operate online stolen data markets despite numerous successful infiltrations by law enforcement in the past. Drawing on theories from criminology, social psychology, economics and network science, this study has identified four fundamental socio-economic mechanisms offered by carding forums: (1) formal control and coordination; (2) social networking; (3) identity uncertainty mitigation; (4) quality uncertainty mitigation. Together, they give rise to a sophisticated underground market regulatory system that facilitates underground trading over the Internet and thus drives the expansion of the underground economy.

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Published date: May 2013
Venue - Dates: ACM Web Science 2013, Paris, France, 2013-05-02 - 2013-05-04
Related URLs:
Organisations: Web & Internet Science, Social Sciences

Identifiers

Local EPrints ID: 349819
URI: http://eprints.soton.ac.uk/id/eprint/349819
PURE UUID: 785f0c50-bff8-4854-be56-4637667d82ab
ORCID for Craig Webber: ORCID iD orcid.org/0000-0003-3900-7579

Catalogue record

Date deposited: 12 Mar 2013 10:09
Last modified: 27 Jan 2020 13:38

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Contributors

Author: Michael Yip
Author: Nigel Shadbolt
Author: Craig Webber ORCID iD

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