Risk, Fraud & Security

The simboxes were used to manage bogus social media accounts which were rented out to other criminals.

Victims were lured into clicking a smishing link by a message stating their 'points' were about to expire.

The country implemented its Centralized International Out Roamer (CIOR) system in July 2024.

More technical methods of tracing scams are irrelevant if nothing can be done about corruption.

The US telco enrolled 3,912 subscribers on a government subsidy program without valid information to identify them.

Children can better at identifying scams than their parents.

Somos is already advertising the benefits of VESPER, a draft standard that would plug holes in STIR/SHAKEN.

Having previously failed to clear up the abuse of telco networks, businesses responsible for STIR/SHAKEN have realized the impact that genuine authentication of calls would have on the financial sector.

Michael Terpin lost USD24mn in cryptocurrency because fraudsters swapped his SIM.

There is an amnesty and financial rewards for Koreans who return to their homeland from foreign scam compounds.

The authorities were coy about how many victims may have received smishing messages.

The work done by institutions can be dominated by silos and categories; criminals exploit the cracks between them.