"Classiscam Fraud-As-A-Service Expands, Now Targets Banks and 251 Brands"

The "Classiscam" Fraud-as-a-Service (FaaS) operation has expanded its global reach, targeting a greater number of brands, countries, and industries, and causing more significant financial harm than before. This Telegram-based operation, similar to Ransomware-as-a-Service (RaaS), recruits affiliates who use the service's phishing kits to create fraudulent ads and pages aimed at stealing money, credit card information, and, more recently, banking credentials. The developers then divide any profits with the affiliate, with the developers receiving 20-30 percent and the affiliate receiving the remainder. Group-IB discovered the criminal platform in 2019, with researchers reporting its rapid expansion. The platform resulted in 40 cybercrime groups making $6.5 million throughout 2020. This article continues to discuss the Classiscam FaaS. 

Bleeping Computer reports "Classiscam Fraud-As-A-Service Expands, Now Targets Banks and 251 Brands"