Dr. Olga Smirnova, with Tom Holt, have an article forthcoming in the American Behavioral Scientist. The article is titled “Examining the Geographic Distribution of Victim Nations in Stolen Data Markets.”
“The growth of electronic commerce and malicious software tools designed to compromise various payment systems and computer networks has led to concurrent increase in data breaches, phishing and hacking incidents targeting sensitive financial information. As a function of this increase, an underground market economy has developed around the sale of consumers’ bank account details and other financial information. Recent research examining data markets operating on the Open web demonstrate their basic functions and distribution of information sold. Emerging evidence suggests markets are now operating on the “Dark web” or encrypted web sites operating on Tor based networks. Little research to-date has compared the distribution of victim nations in stolen data markets, nor examined any variations between Open and dark web operations. This study utilizes a rational choice framework to examine this gap using a sample of 18 forums and 15 shops hosted on the Open-web and Tor. Using statistical analyses to examining the geography of victimization, this study provides a preliminary test of the applicability of rational choice theory to market operations.”