What do scammers do with the information they get by phishing?

What do scammers do with the information they get by phishing?

Hacker X (Computer Security Expert) gives expert video advice on: What are some of the most common phishing emails and how do they work?; What do scammers do with the information they get by phishing?; Does virus protection software really work? and more...

What happens to the information that people get from phishing, or scamming, or spoofing or anything like that really depends on who's receiving it. True hackers simply want the challenge of getting the information by phishing or breaking into a system and 99.9% of the time that's as far as it's going to go. It's the challenge of doing it. However, there are a lot of unscrupulous people out there who are going to use this information from phishing to set up credit accounts, to purchase goods and services. They might run up your credit, having got the numbers by phishing, and buy a whole lot of stuff that they're going to have drop-shipped somewhere and sell it for really cheap. Again, the cyber crimes committed by phishing mirror very closely the crimes that we find in the real world if somebody was able to get a hold of personal information that gave them access to your money.