Threat Report: Refund Fraud-as-a-Service

Refund fraud is becoming increasingly detrimental to eCommerce stores. Last December, a man pleaded guilty to defrauding a retailer for more than $300,000 by performing refund fraud over the course of three years.

With cybercrime’s continued shift to a service-driven economy, interested parties can outsource the process of refund fraud to groups of professional social engineers offering Refund-as-a-Service. This poses a significant challenge to retailers, as previously legitimate customers can enlist highly experienced fraudsters to perpetrate this fraud on their behalf, making it difficult to identify fraudulent activity.

Our team of threat researchers have used cyber threat intelligence techniques to infiltrate deep into the rapidly maturing Refund-as-a-Service ecosystem.

In this report, you’ll learn:

• The current structure of the underground Refund-as-a-Service market
• The changing tactics and methods used by adversarial groups to perform refund fraud
• How threat intelligence and fraud teams can work collaboratively to effectively combat refund fraud