South Africans are at high risk of falling victim to cybercrime on the dark web, as revealed by a new study conducted by cybersecurity company NordVPN https://nordvpn.com/
The study found that South African passports are the fourth-cheapest globally, selling for as little as R156 on the dark web. The study also revealed that personal data such as payment card details, mobile phone numbers, and online account details are being sold for as little as R31.
NordVPN analyzed one of the dark web markets with a total illegal sales value of R270.4 million to date.
According to the cybersecurity experts, this market was chosen because it has been used by major hacking groups in the past, including the group involved in the AT&T data theft in August last year. However, this market represents only the tip of the iceberg, as there are over 30,000 websites on the dark web, which represents only 4% of the entire internet.
South Africa’s data privacy regulations are weak compared to those of other countries, making it easier for hackers to steal personal information.
The study found that payment card data costs an average of R143, while a hacked Netflix account can be bought for as little as R151.
In contrast, crypto wallets and investment accounts cost more, with Binance’s data being the most expensive at an average price of R6,158.
According to tech expert and CEO of Nihka Technology Group https://nihka.co.za/, Yashmita Bhana, it is important for the South African government and multinational companies to take immediate action to protect their sensitive information from being sold on the dark web.
While commenting on the study’s severity findings, Bhana said:
“It is crucial for organizations and governments to take proactive measures to protect their sensitive data from being sold on the dark web.
As one of the leading experts in the cybersecurity industry, we have helped a number of individuals, organizations, and governments in different parts of the world. We are more than willing to, first of all, educate the South African government, affected organizations, and individuals about dark web threats, and then protect them from these threats.”