🏴‍☠️ Fraud as a Service: how can it be addressed and what are financial intelligence units planning to do ❓

🏴‍☠️ Fraud as a Service: how can it be addressed and what are financial intelligence units planning to do ❓

The so-called FaaS is no longer simply a fraud scheme, but rather a service sector in which criminal groups acquire the data, infrastructure, tools, and specialist knowledge required for their operations. This organizational transformation significantly complicates efforts to combat fraud, as there is no “single front,” and authorities must separately address banks, fintech companies, and providers that do not consider their commercial interactions with scammers to be problematic.

➡️ Scale: in October 2025, Europol dismantled a network involved in SIM card rental across approximately 80 countries. The scheme, known as “SIMCARTEL,” operated from Latvia🇱🇻 and involved phishing, smishing, and identity concealment, while managing 49 million fake accounts. Such operations required outsourced services and additional infrastructure.

➡️ FaaS vs. SaaS: “fraud as a service” closely resembles the legitimate “software as a service” model. Some criminal services offer subscriptions, different pricing tiers, as well as customer support and training materials. The result is a specialized ecosystem covering the entire chain of fraudulent activity, from staff preparation to information theft and money laundering.

➡️ What about AI❓ It can also be used by scammers, as well as by law enforcement agencies working to combat fraud.

➡️ Context: in the FATF report for 2026, the definition of fraud is no longer limited to fraudulent activity in e-commerce. Researchers note that scams in the broad sense represent the primary money-laundering risk in 90% of the assessed jurisdictions.

➡️ …what else?⁉️ The framework known as FRAML, for example, proposes operational cooperation and information sharing between different agencies. The idea is not new, but specific applications include name screening through PreScreening.io, transaction monitoring through Transact Comply, entity analysis through Entity Hero, and scam monitoring through Fraud Fighter.

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