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.
Prices For Stolen Credit Card Numbers Fall
By Ben Popken April 29, 2008
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