FreeWatch

CTM360 has identified FreeWatch, a sophisticated phishing campaign targeting retail banking customers across the MENA and GCC regions through sponsored social media advertisements promoting a free smartwatch giveaway. The campaign leverages trusted bank branding, private messaging platforms, and convincing phishing portals to harvest sensitive customer information, including online banking credentials and one-time passwords (OTPs).
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Our analysis reveals that threat actors operate in real time, using captured credentials and OTPs to gain immediate access to victims’ banking accounts and execute fraudulent transactions. By combining social engineering, brand impersonation, and cloud-based backend infrastructure, the campaign demonstrates a highly effective account takeover model designed to maximize financial fraud at scale.
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This report provides an in-depth analysis of the FreeWatch campaign, including its attack chain, infrastructure, targeting patterns, and monetization methods, along with key insights to help organizations strengthen their digital risk protection and fraud prevention strategies.

Read the full report and explore CTM360’s latest insights and threat intelligence.