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Mobile Network Fraud

Approving Fraud

Posted by on 12:05 pm in Common fraud against people, Mobile Fraud | 0 comments

Approving Fraud

Figures from UK Finance – a trade association representing the UK finance and banking industry – revealed more than 19,000 people were targeted by Authorised Push Payment (APP) scams in the first half of 2017. The fraud has cost customers more than £100 million, with an average loss of £3,000 for consumers and £21,000 for businesses. Wrongful authorisation An APP scam occurs when criminals trick victims into sending money directly from an account to one owned by fraudsters. Victims are convinced by: Scammers impersonating bank...

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Smartphone hacks for dummies

Posted by on 9:50 am in Common fraud against people, Mobile Fraud | 0 comments

Smartphone hacks for dummies

More than 40% of European consumers use mobile banking on their smartphones. While apps such as mobile banking and payments have helped simplify personal finance management, they also require a user’s personal information. Most banking apps have software that verifies a user’s identity when they log in, often using financial companies like Payfone to verify the mobile being used. However, not all apps have up-to-date security features, leaving mobile phones vulnerable to hackers. Outsmarting the competition Fraudsters use scams to gain...

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Smishing: a new route for an old trick

Posted by on 2:00 pm in Common fraud against people, Mobile Fraud | 0 comments

Smishing: a new route for an old trick

Scam artists are moving away from calling phones and targeting victims through text messages instead. Their new method: Smishing (SMS-Phishing). What is Smishing? Smishing works in much the same way as a contemporary phishing e-mail, but the scam is sent by Short Message Service (SMS) messages instead. Preying on people’s panic and sense of urgency, fraudsters send out text messages to victims. They pretend to be close friends, employees or even their banks. With simple techniques, the victim is made to believe the text message is genuine,...

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Why fraud evolves, and how to address it

Posted by on 8:51 am in Common fraud against people, Mobile Fraud, SIM box fraud | 0 comments

Why fraud evolves, and how to address it

Fraudsters are business people. When one route to generate revenue is closed, they will open another. Equally, when one issue for a network operator disappears, it is commonplace for that revenue loss to move to another method of fraud, rather than disappearing entirely. For the network, it does not matter if they are experiencing SIM Box fraud or OTT hijack- each type of fraud will impact their revenue negatively. Operators are under increasing pressure to invest in the networks that we have all come to rely on, with many telecommunications...

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SIM swap fraud: simply stealing

Posted by on 10:35 am in Common fraud against people, Mobile Fraud | 0 comments

SIM swap fraud: simply stealing

According to the U.S. Fairtrade Commission, cases of SIM swap fraud have increased by more than 150% since 2013. Now, with more than 2,658 cases a year, the fraud is becoming increasingly popular for its sheer simplicity. But what is it exactly and how can it be prevented? SIM swap fraud SIM swap fraud is a method of gaining access to bank accounts, credit card numbers and other personal data. It involves a scammer impersonating their victim and convincing their mobile network to activate a new SIM card. Effectively, it gives fraudsters...

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Public Wi-Fi and identity theft

Posted by on 2:17 pm in Common fraud against people, Finance issues, Mobile Fraud | 0 comments

Public Wi-Fi and identity theft

Many of us think nothing of using public Wi-Fi networks to catch up on emails, browse the web or check social media. However, you could be inadvertently giving away more information than you think. Many opportunistic criminals hack public Wi-Fi systems or even create their own networks to access people’s passwords and other private information. Action Fraud, the City of London Police, Cifas and Equifax have launched a new campaign tackling identity fraud, using the hashtag #AreYouOneOfThem. A YouGov survey commissioned by Equifax...

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Ransomware: Protect yourself and your business

Posted by on 2:13 pm in Common fraud against people, Mobile Fraud | 0 comments

Ransomware: Protect yourself and your business

Just weeks after the WannaCry malware infected more than 230,000 computers in more than 150 countries worldwide, yet another form of ransomware targeted some of the UK’s largest organisations. This malware, given various names including Petya, NotPetya or Golden Eye, blocked computers, preventing users from accessing data, and demanding a ransom to release it. The infection spread rapidly through computer networks, disrupting many large corporations throughout Europe and the US, such as pharmaceutical company Merck, Danish shipping company...

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Mobile banking fraud: how to keep safe online

Posted by on 1:27 pm in Common fraud against people, Future fraud, Mobile Fraud | 0 comments

Mobile banking fraud: how to keep safe online

According to mobile security experts, 84% of mobile banking users are confident that their banks are completely on top of security and fraud prevention. But should they be, if more than a quarter of UK consumers that experienced banking fraud noticed the behaviour before their banks did? Mobile payments are becoming increasingly commonplace, exceeding a combined expenditure of $220 billion in 2017 – more than tripling since 2013. Fraudsters primarily use phone identification to gain access to bank accounts, calling banks directly and...

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The rise of mobile and contactless payment fraud

Posted by on 4:28 pm in Common fraud against people, Mobile Fraud | 0 comments

The rise of mobile and contactless payment fraud

After the first contactless cards were issued throughout the UK in 2007, over the last decade the payment method has surged, and evolved. Contactless card payments with a ‘tap and go’ limit are now useable throughout most of the world, while systems such as Apple Pay and Android Pay have been introduced for the mobile sector. Yet, with the new methods, come a host of different opportunities for fraud. Financial Fraud Action UK (FFA) has released new figures indicating that money stolen through contactless bank cards and mobile...

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Smartphones v Fraudsters: The battleground for data

Posted by on 10:07 am in Common fraud against people, Mobile Fraud, Tackling crime via mobile | 0 comments

Smartphones v Fraudsters: The battleground for data

The latest report released by Cifas— the UK’s dedicated fraud prevention service—shows that identity fraud has reached the highest level ever recorded. According to the research, 172,919 counts of identity fraud occurred in 2016, an increase of 68 per cent since 2010. As a result, identity fraud is now responsible for more than half of all fraud recorded by Cifas. The majority of identity fraud is often cyber-enabled, with 88 per cent of all reported incidents taking place online. What is identity fraud? Identity fraud takes place when a...

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