Fraud

Reducing losses due to fraudulent activities

Thwarting Gift Card Cloning Scheme

Cyberint’s deep intelligence capabilities focus on threats to digital business. Leveraging its familiarity with retail-specific threats, Cyberint uncovered a gift-card cloning scheme.

Cyberint analysts exposed the details of the method by which the threat actor obtained and abused the retailer’s gift card. The scheme was reported to the retailer and measures were taken to frustrate that method of fraud.

Business Impact

By providing full details of the scheme, Cyberint helped the retailer identify the weakness that was exploited by the threat actor.

Consequently, it prevented further fraudulent activities using these gift cards and minimized revenue loss. This was possible by utilizing Argos’s database of entities, threat actors and attribution to maximize context. After identifying the threat actor’s online marketplace, Cyberint was able to continuously monitor the threat actor’s activities to ensure that no new scheme was underway.

Investigating Threat Actors' Methods

To better understand the exposure, Cyberint initiated virtual HUMINT operation to engage the threat actor and created his full profile. The investigation revealed a U.S.- based threat actor who was actively engaged in the illegal gift card market for some time.

Cyberint’s team identified that the threat actor operated an invitation-only online underground store, where among others, more stolen retailers’s gift cards were traded.