Majority of Spam Transactions Processed by Just Three Banks
Researchers at the University of California (USA) have identified spam's weakness. A team of computer scientists found that 95% of credit card transactions for spam operations were handled by only 3 firms, as reported by the ADWEEK on May 20, 2011.
The researchers stated that, with the help of credit card firms and banks, it would be possible to reduce the money flow to spam activities.
Researchers at the University of California were competent enough to unveil the banking patterns and habits of spammers by inviting and replying to as many spam e-mails as possible for continuous 3 months. At the end, their research spanned several messages, and 120 purchases.
Although they are less in number, the spammers' banks of choice are circulated throughout the globe: One on the West Indian island of Nevis, another in Azerbaijan and a Dutch bank.
As the spam banks have been recognized now, researchers anticipate that the credit card firms will decline to process internet transactions with these banks, therefore cutting off spammers from a rapid and simple cash flow.
Commenting on the matter, Stefan Savage, Scientist at the University of California, San Diego, stated that, if some companies like these declined to approve online credit card payments to the merchants, they would cut off the money that assists the complete spam enterprise, as reported by The New York Times on May 19, 2011.
Remarkably, a previous study undertaken by the scientists revealed that a single commercial spam e-mail campaign created 3 messages for each person on the planet. The study further highlighted that to sell $100 worth of Viagra, a spam provider required dispatching 12.5 Million messages.
Nonetheless, now that the research is complete, the intricacy will be acting on it. It will depend on the law enforcement agencies and private firms, such as Visa, whose services are generally utilized in spam transactions, to act resolutely and end the blight of the 21st century.
By diverting the simple procedures of online transactions done using credit/debit cards into a more sophisticated manner, the cost burden can be shifted to the spammers.
Related article: Majority of Internet-linked PCs Unsafe, Says Secunia
» SPAMfighter News - 30-05-2011