Fraud as a Service, also known as FaaS, is a business model that involves selling services to cybercriminals. The majority of the trade happens within the dark web and covers a wide range of services, including phishing kits, fraud tools, and just malware. There can also be sophisticated tools such as payment systems, UI, customer support, and security measures.
How does Fraud as a Service work?
FaaS functions like an authentic SaaS business, with customers who purchase or rent infrastructure, data, and tools that they would use for nefarious activities. FaaS essentially provides tools such as botnets, identity theft tools, and credit card generators.
FaaS history
Cybercrime has been on the rise, keeping pace with the rise in the digital age. Cybercrime used to be isolated but now occurs in a more organized, more sophisticated structure. The dark web also helps provide a safe space for illegal activities.
The more cybercrime grows in profitability, a market for trade and supply has emerged to meet the increased demand.
