Threat Actor: Cybercriminals | Cybercriminals
Victim: Singaporeans | Singaporeans
Price: Varying prices based on source and quality of data
Exfiltrated Data Type: Singpass credentials, biometric data, forged documents
Key Points :
- Cybercriminals are selling stolen digital identities of Singaporeans on the Dark Web.
- The trade of sensitive personal information, including Singpass credentials, biometric data, and forged documents, has surged by 230% compared to the previous year.
- Cybercriminals use obfuscated JavaScript files transmitted via email to target personal and biometric information, which is then used for fraud, identity theft, and bypassing Know Your Customer (KYC) checks.
Singapore’s digital landscape is facing a mounting threat as cybercriminals exploit stolen digital identities of its citizens on the Dark Web, according to a recent report by cybersecurity firm Resecurity. The illicit trade of sensitive personal information, including Singpass credentials, biometric data, and forged documents, has surged by 230% compared to the previous year.
Resecurity’s investigation has uncovered that an increasing number of cybercriminals are selling stolen identity documents—including passports, identity cards, and driving licenses—on underground forums. These documents are being used for fraud, identity theft, impersonation scams, and bypassing Know Your Customer (KYC) checks.
The initial infection vector identified involves obfuscated JavaScript files transmitted via email, containing malware that targets personal and biometric information. This data is not only used to create forged documents but also exploited by cybercriminals to bypass advanced security measures using AI-powered techniques like Deep Fakes. The stolen biometric data, particularly sensitive given its irreplaceable nature, includes fingerprints and facial recognition details, making the victims vulnerable to a range of crimes, from unauthorized access to financial fraud.
A significant aspect of this cyber threat is the targeting of SingPass accounts, a cornerstone of Singapore’s digital infrastructure, which provides access to a plethora of government and private sector services. Stolen SingPass credentials are particularly valuable as they can facilitate money laundering, illicit financial transactions, and identity theft on a massive scale.
The detailed investigation highlighted the mechanics of the cyber-underworld, where identity data and SingPass credentials fetch varying prices based on their source and quality. Cybercriminals use sophisticated tactics, including the sale of lifelike templates of national IDs equipped with security features such as holograms, watermarks, and microprinting. These are not just sold for direct misuse but are also part of a broader strategy to verify illicit identities through compromised KYC processes.
The proliferation of identity theft is further compounded by data leaks from third-party organizations tasked with collecting sensitive information. Many of these breaches remain undisclosed, leaving victims unaware and unprotected. In response, Resecurity emphasizes the necessity of robust digital identity protection and proactive cybersecurity measures to preempt these threats.
Original Source: https://securityonline.info/cybercriminals-target-singaporeans-digital-ids-flood-dark-web/