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Pig Butchering: Lucrative business model for cyber gangs
Lucrative business model for cyber gangs

Sophos has uncovered how Sha Zhu Pan scammers are now using a business model similar to “cybercrime-as-a-service” for their supposedly romance-oriented so-called pig-butchering scams. The fraudsters sell Sha-Zhu-Pan kits on the Dark Web all over the world and are expanding into new markets. Sophos describes these operations (also known as pig booking) in the article “Cryptocurrency Scams Metastasize into New Forms.” The new sets come from organized crime gangs in China and provide the technical components needed to implement a special pig-butchering program called “DeFi savings”. The criminals pose…

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Effective fraud prevention is behavior based
Scam Detection Phising Malware

Many companies use measures to combat fraud that are now outdated and do not work properly. This includes, for example, the search for malware or users who are redirected from known phishing sites. The process may seem plausible, but it doesn't really reduce fraud losses. This is due to the following reasons, among others. The hydra effect. The targeting of malicious code and phishing is like the Herculean fight against the many-headed Hydra. As soon as one head is done, two new ones grow back. Detection of malware is necessary, but hardly reduces ...

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