Digital Money
Does Anyone Care about Mobile Money Fraud?
Mobile money fraud persists despite warnings. Telcos prioritize profits over prevention, leaving vulnerable users unprotected. Stricter regulations and accountability are overdue.
Survey Highlights Use of Phones for Mobile Banking and Crime across Africa
The KnowBe4 survey of seven African countries found 95% of respondents use their mobile phone for banking or payments.
Singapore Banks to Phase Out OTPs
The banking authorities want customers to authenticate themselves via tokens on their mobile phones.
Where Is the Mobile Money? Big Holes in Accounts of Kenyan Inclusion Fund
Kenya's mobile operators share some responsibility for tracking disbursements of public money to small businesses.
Thai Money Mule Who Helped $5mn Con Arrested after Escaping Cambodian Scam Call Center
The mule worked in an office building in a Cambodian border town, scanning his face to enable large transfers.
Clear and Present Danger of Mobile Money Fueling Terrorism
The Reserve Bank of Mozambique is imposing limits on transactions and balances for mobile money accounts.
Big Fall in US Cryptocurrency Theft Lawsuits; Half are Blamed on SIM Swaps
Over 50 percent of cases filed during 2023 alleged that cryptocurrency was stolen as a result of a mobile provider executing a fraudulent SIM swap.
Nigeria Fights Corruption by Banning Mobile Money Transactions within Police Stations
The use of the equipment had already been prohibited but the Nigeria Police Force admitted its rules had been widely flouted.
Trial Date Set for 19-Year Old Accused of Using SIM Swaps to Steal $800,000 in Cryptocurrency
Noah Urban of Florida, USA, must remain in jail pending his trial.
Indian Central Bank Looks at Alternatives to SMS OTPs for Authenticating Payments
Governor Shaktikanta Das of the Reserve Bank of India also wants digital currency to work offline, but his plan means issuers could place programmable limits on what money can buy.
10 Arrested In Kenya’s Capital of Mobile Money SIM Swap Crime
Police found exercise books full of phone numbers and limits for taking out mobile money loans in the names of victims.
Big Bitcoin Spike after Phone Hackers Hijack SEC Social Media Account
The US Securities and Exchange Commission did not implement two-factor authentication for their official X account.
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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