On 28th October, KYC 360 reported that the National Fraud Intelligence Bureau (NFIB) and one of the UK’s largest mobile phone networks have raised concerns about banks’ growing reliance on text messages when authorising large payments.  The calls follow the release of a declassified document by the FBI that warns about the risk of so-called “SIM swapping” — the process used by scammers to intercept passcodes sent by banks via a text message.


This blog is primarily for my own use, to keep informed and up to date. However, if you would like to say thank you (and perhaps help me get a new, better laptop when I am away…) you can “buy me a coffee” at https://www.buymeacoffee.com/KoIvM842y

Author: raytodd2017

Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section

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