[z-factor]

Speaking from personal experience (Ukraine).

There are plenty of job opportunities and the coders are relatively even more overpaid than in the West, so that's not the reason.

The real reason I believe is that people mostly can do this with impunity. There's very little being done for prevent or prosecute credit card fraud. In Ukraine and Russia CCs are still used very little, so this fraud hurts "the West" which is mostly seen as a good thing by the general population. Rampant piracy is practically encouraged for the same reason.

Of course this creates a barrier for doing legitimate business online. For example PayPal simply does not allow merchant accounts from Ukraine and Russia to reduce fraud. These countries are the safe haven for hosting illegal content etc. It would benefit local programmers to clean up the reputation of the country and to my great annoyance people just do not realize this. Crooks are accepted as keynote speakers at business conferences etc (they do make money, so what's the problem?)