Tag: banking

Karsten Nohl on Cloud Hacking, Central Bank Ends SMS 2FA and Macron’s Filter: Commsrisk Show Episode 10

The world-famous security researcher explained how he hacked a telco's cloud servers and the harm that could be done by bad actors.

Malaysian Banks Stop Using SMS for Two Factor Authentication

The central bank of Malaysia cares more about stopping fraud than appeasing laggards who are only delaying necessary change.

Malaysian Telcos Block All SMS Texts Containing URLs

The new Malaysian anti-smishing blocks were introduced on May 2. Banks in neighboring Thailand have also stopped sending links by SMS.

Regulating Telcos Like Banks, Ghost Accounts, SIM Swaps and Bananas: Episode 5 of The Commsrisk Show

The theme of our April 12 broadcast was the risk and regulatory implications of telcos providing financial services.

Billion-Dollar Lawsuit Claims Safaricom Should Be Regulated as a Bank

Critics say the Kenyan mobile money pioneer uses customer funds to cover overdrafts. These overdrafts also attract SIM swap fraudsters.

Six Arrested for Swapping SIMs and Forging IDs to Raid a Million Dollars from Bank Accounts

Hijacking the phone services of victims was part of a process that culminated with bank withdrawals made in person using fake ID.

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.

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