Prices For Stolen Credit Card Numbers Fall

The price for stolen credit card numbers is falling, with card numbers going for prices between 40 and $20 a piece. This Slate article says the reason is falling demand, because credit card companies are cutting down on fraud and making it harder to profit off a stolen number. But people with just a basic understanding of macroeconomics can probably think of another reason for falling prices…say, for instance, a supply glut. The same article even talks about the development of one-stop ID theft “supermarkets” with fixed prices and bulk discounts. Hmm, yes, critical thinking, it’s good for the brain.

Credit Card Numbers for Sale [Slate]
(Photo: largeprime)