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How to stop phone fraudsters from draining your bank account

If you have a mobile phone and use Gmail, Samsung Cloud, iCloud, Dropbox, Facebook, Twitter etc. and the websites/Apps of banks and countless other web services, you are at risk of being hacked, having your money stolen, having sensitive information exposed and possibly even blackmail.

 

SIM Fraud is a relatively new, sophisticated form of fraud.  Criminals gain access to your bank and credit card accounts through hijacking your mobile phone.  These confident criminals can use your mobile number against you. All they have to do is some social engineering and convince the mobile network that they are you!

 

It all starts by getting some readily available information about you like your address, mobile number, birthday or last four digits of your bank card and giving some combination of them, along with a plausible story, to your mobile customer service/store.  Once they are convinced, the criminals have access into your account where they then proceed to have your phone number forwarded to their phone or “ported” to another carrier and the criminal’s device.

 

The phone hijacker then goes to your online bank account, tries to log in as you but clicks “forgot the password” and resets the password by getting a code texted to your phone number, which is now directing all its messages to their device. Now they are in your account, and YOU are locked out.

 

Phonovation’s patented anti SIM swap attack software prevents this kind of attack using data only available to Phonovation.  Phonovation’s service, PhonoSecure S.T.O.P. (SIM TakeOver Protection) checks if the current SIM card of the customer’s mobile phone can be trusted.  If the number has been ported within a certain time period our service will flag the interaction as a possible fraud and direct the user to confirm certain details that only the customer and bank will know.

 

Ask your bank if they are protecting you against SIM fraud or contact us at Phonovation:

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8 Clarinda Park North,
Dun Laoghaire,
Co. Dublin,
A96 XH21,
Republic Of Ireland
+353 1 284 30 11

sales@phonovation.com

Hamilton House,
Mabledon Place,
Bloomsbury,
London ,
WC1H 9BB,
United Kingdom
+44 800 02 83 730
sales@phonovation.com

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