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Southeast Asian Laws Target Rise in Cyberbreaches

VOA News

   Not everyone who wanted to buy the bank cards stolen from Southeast
   Asian owners would pay the same price: The higher the amount of money
   left on the card, the higher the price. That's according to
   Technisanct, a cybersecurity company based in India, which said it
   found the data for hundreds of thousands of cards for sale online,
   taken from citizens in the six largest nations in Southeast Asia.

   The card theft comes as statistics show cybercrime is on the rise
   across all the Association of Southeast Asian Nations, prompting local
   calls for more stringent regulations and protocols to fight the trend.

   "The results are alarming as it seems no one is aware that such a huge
   volume of payment card details, including the CVV (card verification
   value) and PIN, are available," said Nandakishore Harikumar, chief
   executive officer of Technisanct.

   The company said its researchers found that more than 300,000 stolen
   card accounts were being sold on the internet last month. It said the
   accounts belonged to customers in Indonesia, Malaysia, Philippines,
   Singapore, Thailand and Vietnam.

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