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The Fraud Ecosystem: A Transition From Known Marketplaces to a Fragmented Environment

Rapid7 analyzes how fraud marketplaces are fragmenting into specialized shops after larger marketplaces were dismantled, aided by new MITRE F3 framework

Rapid7 reports a shift from large known fraud marketplaces to a fragmented environment of smaller specialized storefronts such as Xleet, Blackpass, Infodig, and Styx, operating across dark web channels, Telegram, and P2P options. These Fraud-as-a-Service shops sell stolen accounts, PII, synthetic identity generation, infrastructure, and money laundering support, supporting schemes like business email compromise. MITRE's Fraud Fighting Framework (F3), introduced in early 2026, aims to help security teams prioritize monitoring of fraud TTPs, particularly account takeover techniques. Fraud damages are anticipated to approach hundreds of billions of USD.

Rapid7 Blog · 5d agoPhishing & fraud

The Money Mule Solution: What Every Scam Has in Common

CYBERA's money mule intelligence, now in Recorded Future's Payment Fraud Intelligence, targets the shared exit point of $450B-$1T annual scam losses.

Scams, especially authorized push payment fraud, do not require a breach; Global Anti-Scam Alliance estimated ~$450B in 2025 losses while CYBERA co-founder Claudio Staub puts the real figure near $1 trillion when underreporting is counted. Every scam needs a mule account to receive funds, so CYBERA uses agentic personas to engage active scammers and extract verified mule account details before payments occur, now available as an add-on to Recorded Future's Payment Fraud Intelligence. CYBERA collected over 16,000 confirmed mule accounts across 72 countries in H2 2025, finding 28% remained active 30 days or more after identification, including one account in 25 engagements. In Europe 51% of mule accounts sat at neobanks and fintechs, while outside Europe 69% were at major banks; regulatory pressure like the UK's APP reimbursement mandate is raising the stakes for institutions.

Recorded Future · 18d agoPhishing & fraud