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Magaw is in charge of criminal investigations at the U. Hansen: 15, 20 years ago, we worried about tearing up the carbons of our credit cards Magaw: Exactly. When you hear stories like those, it makes you want to track down the thieves, find out how they steal your identity, and confront them face to face.

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Hansen: So, somebody could get this information, log ocan n to somebody’s account, and take their money.

Clements: Liquidate their money, drain their account: That’s what these hackers are interested in.

Clements: Well, here’s somebody named Pepper Borah.

It’s a black market we’re about to expose, though we’ll be careful not to reveal people’s private information.

In a matter of minutes, Dan Clements shows us just how much a crook can obtain in the wide-open Internet underground.

Want the password to take over someone’s bank account?

Clements (with Hansen, in front of computer screens): We have guys that are advertising that they have log-ins to Wachovia Bank they have— Hansen: Log-ins? Online bank log-ins— Hansen: So people can actually go log-in to someone’s account. They’re selling log-ins to bank accounts: Barclays, Wells Fargo, HSBC, all the large banks are here to be bought and sold.

It’s a year-long probe into what’s become a massive, multi-billion dollar, global problem.

We’ll show you exactly how the crooks swipe your identity.

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