Articles about Fraud-as-a-service

A new report from Sift reveals an alarming democratization of cybercrime, with 34 percent of consumers seeing offers to participate in payment fraud online, an 89 percent increase over 2024.

The report details how fraudsters openly advertise and sell stolen payment information and fraud services on social media platforms and deep web forums like Telegram, significantly lowering the barrier to entry for anyone to participate in fraudulent activities.

Continue reading →

User-friendly fraud kits that enable amateurs to execute complex attacks against thousands of accounts in minutes are widely available on the dark web according to the latest 2024 Report on Global Identity Fraud from AU10TIX.

FaaS platforms provide all the tools, templates and automation that fraudsters need, including deepfake generators to create synthetic selfies and videos, botnets to automate mass-scale account creation and takeover, and phishing kits for email and web-based scams.

Continue reading →

According to a new report, 17 percent of consumers have encountered online offers to commit payment fraud, a symptom of fraud's increasing accessibility and democratization among everyday internet users.

What's more the study from Sift shows 16 percent of consumers admit to having committed, or knowing of someone who has taken part in, payment fraud.

Continue reading →

When it comes to fraud, you can never be too careful. Especially when you hear about the brass neck of some criminal gangs that are increasingly adopting the persona of legitimate businesses to peddle stolen credit card details and other financial information.

Fraud-as-a-service (FaaS), as it’s known, has become an industry in itself, with criminals able to provide a one-stop-shop for scammers to rip-off customers and businesses. These organized fraud rings -- often manned by career professionals who know how to bypass rules-based systems -- are becoming increasingly sophisticated.

Continue reading →