Authentication platform tru.ID has released Active SIMCheck, an easy to integrate API product, as a timely response to the alarming growth in SIM swap fraud and account takeovers.
A Pennsylvania woman who lost the equivalent of $20,000 in cryptocurrency as part of a mobile fraud scheme says T-Mobile failed to protect her account in the face of a wave of similar incidents.
Two-factor authentication has significantly increased security for online consumer transactions, but a highly targeted attack can spell millions in losses.
Here’s how easily your phone number could be stolen, why a successful SIM swap scam is only the beginning of your problems, and how you can avoid becoming a victim of the attack
Cryptocurrency has become a red-hot investment, generating huge returns for people who bought in at the right time. But ABC Action News I-Team Investigator Adam Walser has uncovered cyber-criminals have found ways to drain people’s cryptocurrency accounts in the blink of an eye.
Your cellphone number is a single point of failure.
Think about it. You use your cellphone number all the time. You use it when you sign up to sites and services, and sometimes you’ll use it to log into an app or a game on your phone. Your phone number can be used to reset your account if you forget your password. And, you use it for two-factor authentication to securely login to your accounts.
Mr. Shapiro claims AT&T employees took bribes from hackers and gave them control of his mobile account 4 times over the course of one year. Mr. Shapiro also claims that the hackers then used their control over his mobile account to take control of his personal and digital finance accounts and steal more than $1.9 million from him.
Mr. Terpin claims that AT&T allowed an illegal sim swap to occur after an imposter posing as Mr. Terpin obtained Mr. Terpin’s telephone number from an insider cooperating with the hacker without the AT&T store employee requiring him to present valid identification or to give Mr. Terpin’s required password.
Mr. Williams claims that AT&T employees gave hackers control over his mobile account and phone number through an unauthorized SIM swap, and because of that, the hackers were able to take control of his personal and financial accounts, steal his cryptocurrency, and destroy his business, all resulting in the loss of Mr. Williams’ $2 million investment.
Mr. James Chen claims that AT&T employees gave unauthorized access to hackers in a sim swap which allowed the hackers to steal $764,168.00 from his bank accounts. The hackers then created a new cryptocurrency account, purchased cryptocurrency using the stolen money for themselves.
Ms. McCants claims that AT&T agents were paid to override security measures on her mobile account and allowed an unauthorized user to access her confidential account information. The information accessed then lead to Ms. McCants attack.
Watch Rob Ross interviewed on NBC5 in Cincinnati
SIM Swapping Victims Who Lost Millions Are Pressuring Telcos to Protect Their Customers
Rob Ross interviewed by FOX news in San Francisco
Robert Ross & Santa Clara County DA Erin West interviewed by ABC7 Michael Finney
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