Digital Money
Users Only Allowed Banking Apps on One Device; Transaction Limits for New App Users in Nigeria
The Central Bank of Nigeria has demanded new anti-crime controls on mobile banking.
Philippines to Phase Out SMS OTPs for Bank Transactions
The country's central bank is also imposing other anti-fraud obligations that will affect telecoms.
How OXIO Delivers What Banks Want and What Mobile Network Operators Won’t
Enterprise customers including banks and payment providers want mobile services that are more secure and more suited to their requirements.
Global Scam Losses Fell 57%: Why Is Nobody Celebrating?
Our measures of networked crime are bullshit.
United Arab Emirates Transitions from SMS OTPs to App-Based Authentication for Bank Transactions
Emirates NBD, a leading bank in UAE, will be ready to switch customers to app-based authentication just four months after the Central Bank of UAE mandated change.
137 Staff to Work in South Korea’s 24/7/365 National Telco-Banking Police Scam Response Center
Legislators will also emulate compensation schemes in Singapore and the UK that require businesses to reimburse customers who lose money to fraudsters. This comes after the hack of SK Telecom prompted a large fine and promises to ramp up security.
Mobile Money: So Much Growth, So Many Questions
Collaboration in fraud prevention has not kept pace with the rate at which users adopt mobile money services.
South Korean Police to Run Telco and Financial Fraud Center on a 24/7/365 Basis
Both the public and private sectors have significantly ramped up their anti-fraud efforts following the SK Telecom breach.
Woman Sues Telco over SIM Swap Theft of Bitcoin Now Worth $1.3mn
A key part of the legal fight related to whether telcos can use contract clauses to mandate the use of arbitration when there is a dispute over compensation.
50 Customers of French Bank Hit by Insider SIM Swap Scam
An intern at Société Générale is believed to have facilitated the theft of more than EUR1mn (USD1.15mn) from the bank's customers.
Mobile Money Providers Have Low Opinion of Effectiveness of Law Enforcement
The GSMA's annual report on the state of mobile money suffers from a blind spot when identifying who needs to do more to reduce fraud.
Spanish Supreme Court Holds Bank Liable for Losses Following SIM Swap
The decision could establish a precedent that affects telcos as well as banks across the EU.
The Commsrisk Global Fraud Dashboard
Our Global Fraud Dashboard uses AI-powered search to collate, update and visualize data about scams and other network abuses from around the world. New charts are added each month. See it here.
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