Fraud of love: What is a dating scam?
Nethone (acquired by Mangopay)
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Nethone’s Fraud Intelligence (FI) delivers first-hand Darknet insights about your platforms' digital fraud risks. Our fraud intelligence team proactively seeks out all fraud schemes that might harm your business.
This newsletter will help you enter the world of the dark web, understand fraudsters’ modus operandi and learn how to secure your business using an advanced anti-fraud solution. Subscribe now to stay ahead of fraudsters.
In this March issue of Nethone's Fraud Intelligence report, we will focus on regular fraud patterns and scams, proving that fraudsters could affect even the deepest emotions through cyberspace.?
From emerging scams to new trends in fraud, we keep you informed:
Fraud of love
The article discusses the prevalence of romance scams on the darknet, where cybercriminals use fake profiles to lure victims into online relationships and trick them into sending money. The author notes that romance scams are becoming increasingly sophisticated, with scammers using social engineering tactics and advanced technology to manipulate their victims. In the article, you will also find recommendations on protecting yourself from romance scams, such as avoiding sharing personal information online and conducting background checks on potential partners.
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Darknet Summary podcast
Analysts, known as the HUNTER Team from the cyber security company Resecurity have recently completed an investigation into how some notable dark web vendors, mainly from the Russian-speaking world, are still vying for cybercrime dominance since the closure of the Hydra Marketplace. And what better way to entice fraudsters than by improving their service UX, in this case, with convenient-to-use Android mobile apps? To date, such mobile apps offered on the dark web have been mainly used to sell drugs - so why should anyone involve in risk management and anti-fraud need to concern themselves with mobile apps built by online drug dealers?
Listen to Nethone’s Intelligence Specialist Micha? Barba? explain why dark web vendors offer mobile apps to their users and what it could mean for the future of fraud.
Learn more:
Darkweb environment
Next reshuffling on Darkweb forums stage
Currently, the biggest problem of English-speaking communities in Darkweb is the lack of the biggest English language forum - Dread. Since the November 2022 forum is offline, its comeback has been constantly rescheduled due to technical problems. Darkweb communities are very sensitive to every disturbance in Darkweb resources, and even a little interruption in forum activity could be viewed as a law enforcement action. The lack of the biggest source of knowledge and the biggest place for opinion exchange leads to emerging new forums to fill the gap. One of the newest is Libre - like Dread, it is a Reddit-like forum. The future will show if it will become a refuge centre for “homeless” English-speaking Darkweb fraudsters and drug dealers.
On the Russian side of Darkweb, Killnet - notorious Pro-kremlin hacktivists founded a new fraud forum. Since the Spring of 2022, Killnet, a collective of groups and persons supporting Russian government action, has run many low-level hacks (like deface or DDOS) on websites of Western countries' public institutions and companies.
All their actions often have an exaggerated PR narration (like when they hacked the Polish Castorama website on non-trading Sunday, and they described it as “paralysis of Polish commerce”. It is not the first forum that is openly pro-kremlin but probably first created by a famous hacktivists group. The idea is not so bad. There are many examples where fraudsters and hacktivists can make profitable deals for both sides, e.g. trading stolen data or accounts. The future will show how their endeavour to connect fraudsters and hacktivists will perform.
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Credit cards
One of the biggest shops with stolen credit cards again ran a marketing campaign with a lot of free credit card data. To celebrate its first anniversary of existence BiddenCash leaked over 2 million credit card data for free on a famous Darkweb forum. Those cards are meant for online use, which means they can be used in card-not-present fraud. Almost half of the cards came from the USA. The next represented countries are only a percentage of the whole (Mexico, China, UK, Canada, India, Italy, South Africa, Australia, Brazil, and more).
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Fraud Prevention
A study by Sansec, a cybersecurity firm, reports that 12% of online stores analysed were leaking private backups of their websites. These backups contained sensitive customer data, payment details, and login credentials. The research highlights the potential consequences of such leaks, including identity theft and financial fraud, and the importance of securing website backups. You will also find recommendations for online store owners on protecting their backups, such as using strong passwords and encryption.
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Fraud Tools
The blog post by Cyble addresses the discovery of "ImBetter," a new information-stealing malware that targets cryptocurrency users. The malware is distributed via phishing emails designed to steal login credentials, private keys, and other sensitive cryptocurrency wallet information. The author acknowledges that ImBetter is a relatively new threat with unknown capabilities, but it warns that it poses a significant risk to cryptocurrency users.
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Fraud Activity
The article describes cybersquatting, a practice where cybercriminals register domain names similar to legitimate ones to deceive users and direct them to malicious websites. It discusses the potential consequences of cybersquatting, such as reputational harm, financial losses, and legal disputes, as well as recommendations for preventing, detecting, and responding to such attacks. The article also emphasizes the importance of proactive measures, such as monitoring new domain registrations and proactively registering domain names to deter cybersquatters.
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From this blog post, you will learn about malvertising, a cyberattack in which attackers distribute malware through online advertisements. According to the article, malvertising attacks have increased significantly in recent years, owing to the growing popularity of programmatic advertising, which allows attackers to more effectively target their campaigns. The author also looks at the various tactics advertisers use, such as redirecting users to fake login pages or using drive-by download attacks and offers recommendations for businesses to protect themselves from these threats.?
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CEMS MIM | SGH & WU | Henkel | Trade Marketing
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Digital Content Specialist | Psychologist
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