Researchers Uncover Classiscam Scam-as-a-Service Operations in Singapore
Aug 08, 2022
A sophisticated scam-as-a-service operation dubbed Classiscam has now infiltrated into Singapore, more than 1.5 years after expanding to Europe . "Scammers posing as legitimate buyers approach sellers with the request to purchase goods from their listings and the ultimate aim of stealing payment data," Group-IB said in a report shared with The Hacker News. The cybersecurity firm called the operators a "well-coordinated and technologically advanced scammer criminal network." Classiscam refers to a Russia-based cybercrime operation that was first recorded in summer 2019 but only came under spotlight a year later coinciding with a surge in activity owing to an increase in online shopping in the aftermath of COVID-19 outbreak. Called the most widely used fraud scheme during the pandemic, Classiscam targets people who use marketplaces and services relating to property rentals, hotel bookings, online bank transfers, online retail, ride-sharing, ...
