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March 6, 2023

Threat Actors Abuse Popular SaaS Products in Phishing Campaigns Targeting BFSI Customers

Phishing has long proved to be one of the most efficient ways to gather personal information, such as login credentials, credit card numbers, confidential customer data, and intellectual property. The individuals involved in these activities have developed advanced innovative solutions to evade detections and trick innocent users. One such solution is the use of SaaS platforms.

 In 2022, researchers at CloudSEK uncovered various freemium SaaS platforms which had been abused by scammers to conduct phishing campaigns targeting popular brands such as Amazon and Netflix. Majority of these campaigns were aimed at the Indian BFSI customer.

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Authors & Contributors

Anshuman Das
Threat Research @CloudSEK
Hansika Saxena
Hansika joined CloudSEK's Editorial team as a Technical Writer and is a B.Sc (Hons) student at the University of Delhi. She was previously associated with Youth India Foundation for a year.
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Threat Actors Abuse Popular SaaS Products in Phishing Campaigns Targeting BFSI Customers

In 2022, CloudSEK’s TRIAD identified several incidents, especially targeting banking customers, and released advisories to inform the affected SaaS companies and the public. As this trend continues, we recommend that SaaS companies and consumers stay alert to these tactics in 2023 as well.

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Phishing has long proved to be one of the most efficient ways to gather personal information, such as login credentials, credit card numbers, confidential customer data, and intellectual property. The individuals involved in these activities have developed advanced innovative solutions to evade detections and trick innocent users. One such solution is the use of SaaS platforms.

 In 2022, researchers at CloudSEK uncovered various freemium SaaS platforms which had been abused by scammers to conduct phishing campaigns targeting popular brands such as Amazon and Netflix. Majority of these campaigns were aimed at the Indian BFSI customer.

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