Classiscam fraud as-a-service expands, now targets banks and 251 brands

The “Classiscam” scam-as-a-service corporation now targets a much larger number of businesses, countries, and industries while causing much more significant financial loss than in the past.

Similar to a ransomware-as-a-service operation, this Telegram-based business employs affiliates who create phony advertisements and web pages using the service’s phishing kits in order to steal money, credit card information, and, more recently, banking credentials.

Any profits were then split between the affiliate and the developers, with the affiliate receiving the remaining 20–30%. Group-IB first discovered the criminal platform in 2019, and according to the researchers, it quickly grew and was used by 40 cybercrime gangs that brought read more Classiscam fraud as a service expands, now targets banks and 251 brands.

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