Scammers are organizing themselves in a highly structured way with the sole purpose of providing fraudulent services to those who want to profit illegally, but do not have the “know-how” to carry out a scam.
Fraud-as-a-Service: Cybercriminals’ New Profitable Business
You’ve probably heard the term ransomware-as-a-service (RaaS) before. Over the past few years, elite cybercriminals have organized themselves into groups as well-structured as conventional companies and have started to “license”
Their malware to anyone who wants to hijack data
In short, it’s quite simple: an individual with no experience in ransomware “rents” a ready-made kit, launches the attack against the target of newborn photo editing their choice, and splits the profits with whoever coded the malicious software. Ransomware-as-a-service groups are so systematized that many of them even have a sort of “human resources department” to evaluate new members, in addition to a team of developers dedicated to ensuring that the code will work in virtually any scenario.
Yes, the world of cybercrime is constantly reinventing itself, and the latest trend is fraud-as -a-service (FaaS) . This is a concept similar to RaaS, but for different types of fraud. It is possible to make an undue purchase, steal credentials, and so on by simply paying a fraction of the real value of the “transaction” to cybercriminals.
Attention, e-commerce stores!
Although FaaS is nothing new, it is no surprise that its popularity is on the rise. Some of the main victims of this type of fraud are e-commerce stores; after all, in Brazil alone, the coronavirus pandemic caused e-commerce to grow by 75% in a single year! Many യഥാർത്ഥ ന്യൂറോ മാർക്കറ്റിംഗ് ഡോപാമൈൻ പരസ്യത്തിൻ്റെ ഭാവി people have lost their fear of buying online, making virtual platforms a perfect breeding ground for those looking to steal personal and financial data.
There are many types of scams, ranging from purchases made with stolen credit cards to hacking into customer accounts, fraudulent refund requests, and more. The increase in fraud is extremely damaging to merchants, as each fraudulent transaction can aleart news cost up to three times the value of the maliciously purchased item.