SIM-SWAPPING FRAUD IN EUROPE

On 7 July, an article in Info Security reported on recent cases of SIM-swapping, saying that as it requires substantial effort and costs from attackers, we are seeing high net worth individuals and people in positions of corporate, government, or social influence increasingly being targeted. It also asks what is the likely attack formula and how do you know if you have been attacked?  It then discusses how mitigate the risks of such an attack. It also warns that, with SIM-swap cases already rising and additionally cases of criminal activity being linked to the COVID-19 pandemic it is important to highlight that SIM-swapping is a key reason why a phone number may not be the best verifier of a person’s identity as it represents a hole in the authenticator process.

https://www.infosecurity-magazine.com/opinions/proliferation-sim-swapping-fraud/

 

 

 

 

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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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