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Name Game
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join:2002-07-07
Grand Rapids, MI

Name Game

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Banks profit from spam

Posted by Mikko @ 14:07 GMT
Tuesday, May 24, 2011
While doing some spam research couple of years ago, we did a series of test purchases from spam emails.

We bought pills, software, cigarettes etc. We were a bit surprised that almost all of the orders went through and actually delivered goods. Sure, the Windows CD we got was a poor clone and the Rolex was obviously fake, but at least they sent us something.

We were carefully watching the credit card accounts we created for our tests but we never saw any fraudulent use of them.

Most surprising outcome from this test was that we didn't see more spam to the email addresses we used to order the goods.

Our findings were reinforced by an excellent new study published by University of California researchers (with an impressive list of authors).

The researchers not only did test purchases from spam, they also tracked down the botnets used to send the emails, the hosting systems to host the spam sites and the banks that moved the money.

One of the most interesting details in the study is this: almost all spam sales worldwide are handled by just three banks.

The banks? They were:

»www.f-secure.com/weblog/ ··· 164.html
Mele20
Premium Member
join:2001-06-05
Hilo, HI

1 recommendation

Mele20

Premium Member

Well, I never did like Wells Fargo (the only USA bank on the list).

jaykaykay
4 Ever Young
MVM
join:2000-04-13
USA

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Gosh. I am really upset. The Rolex that I ordered and had gold plated was processed by Wells Fargo! What a bummer, or should I say, the bigger the bummer. I am happy to note that there was only that one US bank, but even so, the whole thing is still rather disquieting...one is still worse than none at all.

sivran
Vive Vivaldi
Premium Member
join:2003-09-15
Irving, TX

sivran to Name Game

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So the only actual frauds they encountered were the Rolex and the Windows CD? Or were the other things just not checked?
quote:
Most surprising outcome from this test was that we didn't see more spam to the email addresses we used to order the goods.
I'm less surprised by that than they are apparently. The most surprising thing to me was the low percentage of fraud.