Sponsored by: Netacea

Refund Fraud-as-a-Service | The Other RaaS Threat for Retailers


Breakout Session September 20, 2022 2:15 pm - 3:00 pm

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Matthew Gracey-McMinn
Cyril Noel-Tagoe

Refund fraud is becoming increasingly detrimental to e-commerce stores. Last December, a man pleaded guilty to defrauding a retailer for more than $300,000 by performing refund fraud over a series of three years. With the cybercrime underground’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.

Refund-as-a-service poses a significant challenge to retailers. Previously legitimate customers can enlist highly experienced fraudsters to perpetrate this fraud on their behalf, making it difficult to identify fraudulent activity. In this session, we will cover:

  • 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
RH-ISAC Summit