Global Scam Operation “Classiscam” Expanded to Singapore

Classiscam, a sophisticated scam-as-a-service business, has now entered Singapore, after more than 1.5 years  migrating to Europe. 

“Scammers posing as legitimate buyers approach sellers with the request to purchase goods from their listings and the ultimate aim of stealing payment data,” Group-IB said in a report shared with The Hacker News. 

The operators were described as a “well-coordinated and technologically advanced scammer criminal network” by the cybersecurity firm. Classiscam is a Russia-based cybercrime operation that was originally detected in the summer of 2019 but only came to light a year later, coinciding with an uptick in activity due to an increase in online buying following the COVID-19 epidemic. 

Classiscam, the pandemic’s most commonly utilised fraud scheme, targets consumers who use marketplaces and services related to property rentals, hotel bookings, online bank transfers, online retail, ride-sharing, and package deliveries. Users of major Russian ads and marketplaces were initially targeted, before spreading to Europe and the United States. 

Over 90 active organisations are said to be utilising Classiscam’s services to target consumers in Bulgaria, the Czech Republic, France, Kazakhstan, Kirghizia, Poland, Romania, Ukrain

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