The internet has revolutionized the way we live, but it also has a darker side. Many people are familiar with cybercrime—like stolen credit card information or identity theft—but fewer know about the hidden corners of the internet where criminals operate. These hidden areas are collectively called the dark web, a place where illegal goods and information can be exchanged anonymously, often outside the reach of law enforcement.

While the dark web is often linked to drugs and explicit content in media reports, it also plays a major role in financial crimes. Here’s a closer look at how it works and what risks it poses.

Understanding the Web: Surface, Deep, and Dark

To understand the dark web, it’s helpful to know the different layers of the internet:

1. Surface Web

Rather than continuing to operate at higher volumes—which often involves increased competition, operational complexity, and exposure to law enforcement—some vendors choose to conduct an exit scam, disappearing with the escrowed funds instead of fulfilling outstanding orders. For these vendors, exiting can be financially more attractive than maintaining a long-term presence in a mature and competitive market.

2. Deep Web

The deep web consists of content that isn’t indexed by search engines. Examples include private databases, paywalls, internal search results, and other protected content. While not fully hidden, this information is harder to access than the surface web.

3. Dark Web

The dark web is a subset of the deep web that is deliberately hidden and cannot be accessed with normal web browsers. It originated in the mid-1990s with the creation of Tor, software developed by the U.S. government to allow secure, anonymous communication for intelligence purposes. Over time, the anonymity Tor provides attracted communities that used it for illegal activities, forming what we now call the dark web.

Without proof of intentional deception, these cases are typically treated as business failures rather than exit scams.

The Size of the Dark Web and Its Use in Financial Crimes

Data is often sold in packages, ranging from simple credit card details (number, name, CVV) to complete data dumps containing full banking information. These packages allow criminals to clone cards or open fraudulent accounts. Prices can be surprisingly low, often between £5–£10 per card, and selling information can be more profitable than using it directly.

How Financial Information Is Stolen

Criminals obtain sensitive financial data using several methods:

1. Phishing

Fake emails or websites trick users into entering their credit card information.

2. Skimming

Devices installed on card readers or ATMs capture card data when swiped.

3. Malware

Malicious software secretly installed on computers collects stored information and tracks form entries.

4. Data Leaks

Hackers exploit vulnerabilities in websites or companies that store large amounts of financial data.

How to Protect Yourself

You can take steps to reduce the risk of financial fraud:

• Be careful when sharing personal information online.
• Know your bank’s policies—banks will never ask for passwords or PINs over the phone.
• Regularly check your credit report for unusual activity.