Fraud-as-a-service (FAAS) has evolved over time to become a business model for many fraudsters. Using bots and brand impersonation, fraudsters can rent bot networks from fraud "service providers" to launch large-scale fraud campaigns.
Fraudsters can use bots and brand impersonation to rent bot networks from fraud "service providers" to launch large-scale fraud campaigns against websites and to phish victims.
Fraudsters simply need to plug in victims' names and financial institutions or favorite stores, and the bots handle the rest – phishing the victim for their passwords, allowing for account takeover – all for as little as 15 cents per bot call.
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