Zeus OTP Malware Trail Leads to Russian Cyberwarfare
The ‘JabberZeus’ cybercrime group were behind a wave of frauds that relied upon intercepting one time passwords sent by SMS.
American Bankers Association Shows Why US Robocall Strategy Will Never Work
You can fire Americans, hire replacements somewhere cheaper, and disguise where they are, but eventually somebody pays a price.
Australia to Change Data and ID Sharing Rules for Telcos and Banks Following Massive Optus Breach
Regulators want businesses to be able to share data so they can prevent fraud when personal data has been compromised.
London Thief Exploits Yet Another Flaw with SMS OTPs
A serial criminal is taking phones from gym lockers and using them to remove thousands of pounds from bank accounts.
MTN Nigeria Subsidiary Demands Banks Return $54mn of ‘Wrong’ Mobile Money Transactions
Usoro Usoro, CEO of MoMo Payment Service Bank, submitted a court affidavit about 700,000 improper transfers to 18 different banks.
Now You Can Buy Bots That Steal SMS OTPs
Crooks are selling software that automates social engineering. Bots call targets and ask for one-time passwords that are used to take control of bank, cryptocurrency and PayPal accounts.
Cloned Voice of Company Director Used for $35mn Bank Theft, Says UAE Police
The company’s banker was fooled by an AI simulation of the director’s voice plus emailed instructions to transfer money.
Why a $600mn Crypto Heist Is Bad News for Telcos and Banks
Public ledgers mean criminals can take cryptocurrency without revealing who they are, but everyone can still see where it went.
AB Handshake Is SWIFT for Telecoms
In the 1970’s bankers worked out how to use secure messaging to prevent any discrepancies when making international transfers. The same method would work for international calls.
Will Bankers Force Telcos to Hire Chief Risk Officers?
When a telco that is also a bank appoints a CRO for its banking activities this begs a question about why it does not have a CRO for the rest of its business.