"Resecurity Uncovers STYX, New Cybercriminal Platform Focused on Financial Fraud"
New research by Resecurity has uncovered the STYX Innovation Marketplace, a new cybercriminal e-commerce platform with a focus on financial fraud and money laundering. STYX was introduced at the start of 2023, providing cybercriminals with various services, including stolen financial data, credit card information, forged documents, money laundering services, victim reconnaissance lookups, and more. This finding shows the threat that cyber-enabled financial crime poses to financial institutions and their customers. The discovery of STYX overlaps with the observation by Resecurity's financial crime risk analysts of a significant increase in threat actors offering money-laundering services that exploit digital banking and cryptocurrency accounts. Cybercriminals have also begun to target new jurisdictions outside of North America and the UK, including the United Arab Emirates and European Union countries, including Germany, Romania, Bulgaria, the Czech Republic, Poland, and Slovakia. This article continues to discuss the new cybercriminal e-commerce platform.