Examining Financial Transactions in Online Stolen Data Markets with Social Network Analysis: Trust and Selection

• In Event: Assessing Cybercrime Offending, Victimization, and the Law Enforcement Response

Abstract

Current studies on online stolen data markets have not addressed dynamics and transactions that occur at individual level. To address this gap, this study examines buyers' selections of sellers in online stolen data markets to provide insight into resource flows within these markets. To do so, this study utilizes the selection model of social network analysis to examine the influence of trust as a factor for initiations of financial transactions. Data for this analysis is a purposive sample generated through snowball sampling. Three criteria on are established for selection: (1) the forums must have been in operation for at least one year, (2) the forums need to have high traffic, and (3) the forums must have at least 100 threads containing advertisement and responses to those advertisements. Findings from this study will shed light on factors affecting buyers' choices of sellers. Tactics targeting these factors, such as disruption of trust or mechanisms facilitating trust, can potentially be developed to disrupt these markets.

Author

• Yi-Ting Chua, Michigan State University