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Hackers Exploit Open Banking Services to Test Stolen Credentials Without Paying a Cent

Cybersecurity NewsOctober 20, 20265 min read

Criminals have found a way to use open banking as a low-cost checking service for stolen bank and card details. In a campaign described by Group-IB, fraudsters abused a spend-management platform’s account-linking process to check whether credentials worked and whether linked accounts held funds. The platform did not lose money through stolen funds, but it […] The post Hackers Exploit Open Banking Services to Test Stolen Credentials Without Paying a Cent appeared first on Cyber Security News.

Criminals have found a way to use open banking as a low-cost checking service for stolen bank and card details. In a campaign described by Group-IB, fraudsters abused a spend-management platform’s account-linking process to check whether credentials worked and whether linked accounts held funds. The platform did not lose money through stolen funds, but it unknowingly paid for the checks through its open-banking provider. The scheme also used the platform’s email and payment notices to send phishing messages. These claimed that a sale through the online marketplace Poshmark was waiting…

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