Description

Cybercriminals are abusing legitimate financial technology (fintech) platforms to conduct phishing attacks and validate stolen banking credentials, according to research by Group-IB. The campaign reportedly uses trusted payment notifications to impersonate online marketplaces, including Poshmark, and trick victims into revealing sensitive financial information. In May 2026, Group-IB blocked more than 230 fraudulent accounts associated with this activity. The operation is consistent with Classiscam, a scam-as-a-service model that uses Telegram bots and fraudulent marketplace pages to collect payment details. Attackers exploit legitimate spend-management platforms to send convincing phishing notifications containing shortened links. Fake websites then request personal information, card details, one-time passwords (OTPs), and online banking credentials. The attackers also abuse open-banking integrations to verify stolen credentials and access account balances or transaction histories. This activity can cause financial fraud, identity theft, reputational damage, and additional operational costs for fintech providers. The reported activity does not establish that the impersonated marketplace itself was compromised. Fintech organizations should strengthen onboarding controls using device fingerprinting, behavioral analytics, and network intelligence to detect fraudulent registrations. Monitor suspicious account creation, bulk notifications, repeated device identities, and rapid bank-account linking. Implement risk-based authentication and additional verification for unusual account activity. Protect open-banking integrations with strict access controls, transaction limits, and anomaly detection. Block confirmed fraudulent accounts promptly and coordinate with financial institutions and law enforcement to investigate related activity.