CyberWire Daily MaaS infrastructure exposed. [Research Saturday]
Aug 24, 2024
Robert Duncan, VP of Product Strategy at Netcraft, sheds light on the alarming implications of Mule-as-a-Service (MaaS) in global fraud schemes. He discusses how cybercriminals use MaaS to launder money, connecting various scams like romance fraud and investment scams. The conversation dives into the use of generative AI to analyze and combat these fraudulent networks. Duncan also emphasizes the importance of mapping cyber and financial infrastructures to expose vulnerabilities, offering crucial insights for preventing financial crimes.
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Mule Accounts Link Scams
- Cybercriminals use third-party money mule accounts to extract funds from victims.
- The same mule account may serve multiple criminal groups from different countries, linking them.
Mule Recruitment via Social Ads
- Criminals recruit money mules through enticing ads offering easy money for bank accounts.
- Dormant accounts, like those left by departing international students, can be sold as mule accounts.
Using AI To Uncover Scams
- Netcraft uses generative AI personas to simulate victims and interact with scammers, extracting intelligence.
- This approach can sustain long conversations, revealing multiple mule accounts and scam methods.