A complex fraud operation called Phish ‘n’ Ships has been uncovered by HUMAN Security’s Satori Threat Intelligence and Research team, stealing tens of millions of dollars from unsuspecting consumers. The scheme targeted fake web shops that abuse digital payment providers to steal consumers’ money and payment card information.
The operation used fake product listings, which were staged on infected websites and redirected to 200+ fake webshops with 121 still active during the investigation. However, with the help of HUMAN partners, the fake product listings have been removed from search results by Google, and the threat actors’ accounts have been removed from payment processor platforms.
Despite being disrupted, Phish ‘n’ Ships is still active, and Satori researchers continue to monitor the threat actors for new evolutions of the scheme. The operation reinforces the role digital advertising plays in fraud, as ads and sponsored search listings lead unsuspecting consumers to fake web stores.
“We’ve estimated that hundreds of thousands of consumers were victimized over the past five years due to this scheme,” said Gavin Reid, Chief Information Security Officer at HUMAN. “This underscores the value across the entire customer journey of a unified approach to digital fraud and abuse.”
HUMAN’s Satori team proactively hunts for-and disrupts-new and emerging threats like Phish ‘n’ Ships, protecting customers from the impacts of digital fraud. The company’s Human Defense Platform safeguards every digital interaction, transaction, and connection with high-fidelity decision-making that defends against bots, fraud, and digital threats.
About HUMAN Security
HUMAN is a leading cybersecurity company committed to protecting the integrity of the digital world. They ensure that every digital interaction, transaction, and connection is authentic, secure, and human. For more information, visit www.humansecurity.com.
Source: https://www.globenewswire.com/news-release/2024/10/31/2972732/0/en/HUMAN-Uncovers-Phish-n-Ships-Scheme-That-Stole-Tens-of-Millions-from-Unsuspecting-Shoppers.html