Payment Declined: Carding Cyber Criminals Fear for Their Future

This report examines the 2022 disruption of the carding ecosystem following law-enforcement takedowns of major marketplaces, and the resulting market effects—higher prices, lower card validity, and a shift toward direct relationships with skimmer/sniffer operators—illustrated by case studies of BatMarket and Bankomat; it concludes that carding remains an ongoing financial cybercrime threat despite increased complexity and enforcement.