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IDG Contributor Network: The Dark Net’s Fraud as a Service (FaaS)

Discussion in 'CSO' started by RSS, Feb 2, 2016.

  1. RSS

    RSS New Member Member

    One of the biggest public relations nightmares a company can face is the theft of customer data for the purposes of fraud. This is especially true when the company is operating in a heavily regulated industry such as healthcare, insurance, or finance.

    We have seen what widely publicized incidents can do to a company’s reputation, shareholder value, and customer confidence. These incidents can also generate additional regulatory scrutiny. All of these impacts can and have shortened the careers of CEOs; Sony and Target are good examples.

    MORE ON CSO:Data breach numbers still high in 2015

    FaaS has matured to the level of diversification and specialization. In the arena of cybercrime, groups have emerged into areas of specialization, with the top of the food chain acting as general contractors. According to Daniel Cohen, of the Online Threats Managed Services group at RSA:

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