5 Tools That Every Car Thief Swears By
In 2015, auto thieves boosted a car about every 45 seconds, according to statistics released by the FBI. In all, more than 700,000 vehicles went missing totaling $4.9 billion in losses.
The good news is that auto theft has actually been dropping year over year, largely due to advances in onboard security technology. The bad news is that fraud-based online theft in the automotive and powersports industry is becoming easier by the day.
Old school car thieves used slim jims, slide hammer pullers, wire cutters and volt
meters to force entry and speed away. Of course, perpetrators of so-called “car jackings” could rely on just a baseball bat or hand gun to induce drivers to hand over the keys.
Today, a growing percentage of automotive, powersports, aftermarket, performance and accessory products are stolen over the Internet. Fraudsters use an entirely new set of tools obtained on the Dark Web or even found through a Google search of the standard web.
A leading source of fraudster tools is Wickybay, self described as “…a one-stop center collecting all information related to scamming, phishing, hacking and other internet-related crimes.”
At this site and others such as ALPHABAY, fraudsters and criminal gangs can find the tools they need to commit Grand Theft Auto while seated comfortably in front of their computers. Here is a sample online vehicle fraud toolkit:
- Tool 1: Anti-Detect Browser promises to generate thousands of dollars in additional ill-gotten gains by increasing carding success rates to 98%. Advertised as a $400 value being offered for free, although the all-important user guide does cost $5.
- Tool 2: “Starter Pack” of educational materials for fraudsters, which even includes techniques and tools for defeating fingerprinting security devices.
- Tool 3: Software templates for User IDs. One available set—just $7—provides 37,000 items designed to train fraudsters and facilitate transactions.
- Tool 4: List of compromised Go Daddy email accounts and associated passwords, just $4.99.
- Tool 5: For third-party transactions, a PayPal Middleman Account is promoted as a worthwhile investment at just $5.
These are only a few items in the growing list of thousands of tools and techniques available to fraudsters. The easy availability of these cheap fraud toolkits is one reason why analysts are forecasting a perfect storm of fraud for online businesses by 2020—with card-not-present (CNP) losses soaring to $7.2 billion.
If you’re a powersports, automotive, aftermarket auto parts, or audio aftermarket business conducting online or mobile transactions, you are probably seeing signs of this fraud tidal wave.
What to do? Download the eBook “Does Your Fraud Prevention Need a Tune Up?” and discover six strategies for tuning up your fraud prevention.