UK-based mobile phone providers would perhaps be wise to review their security processes and procedures, potentially making investments in identity verification software in order to reassure customers and clients that their personal information is safe and properly protected.
According to a This Is Money report, fraudsters are now targeting brands in this particular sector, tricking network providers into transferring mobile phone numbers onto a different SIM card. Once this has been achieved, they can then steal the six-digit verification codes sent by banks by text to customers when trying to set up new payees or transfer funds online.
Figures from Action Fraud show that in the three years leading up to August last year, there were 549 cases of SIM swap scams reported, with the average loss approximately £4,000.
The news source reached out to various network providers in the UK to find out what information they ask for in order to swap a SIM card.
Vodafone, for example, explained that asks numerous security questions and will then send a one-time access code to the phone in question for verification, although customers are also able to use its Voice ID feature, utilising voice recognition software.
O2, meanwhile, said a code is sent out to a mobile phone before a new SIM can be activated, while photo ID is required in store.
There’s so much technology available these days that can be leveraged by brands in order to offer customers and clients even greater ID protection that if companies aren’t using it, the question must be asked as to why.
Have you considered video identity software, for example? This will prompt the user to complete randomised movements and say onscreen words, after which they can be face matched with their identity document.
Or what about using ID documents, where clients have to take a photo of a valid document (such as a passport or driving licence), which is then authenticated and face matched against the client’s image (in the form of a selfie).
The most secure way of working, however, is a combination of both of these approaches, with video identity and documents combined in one test so the user’s face can be matched from both through a face match check. This means that you can rest assured that the documents do in fact belong to the user in question.
Last year, the BBC reported that staff in mobile phone shops are actually bypassing basic ID checks and handing over replacement SIMs to potential fraudsters… so it seems that tightening up where security is concerned is an absolute must for businesses in the mobile phone network industry.
The Watchdog Live investigation found that O2 only asks for photo ID when replacing those SIM cards on a monthly contract, while those on pay as you go contracts would always receive an authorisation code if someone tries to access their number. But undercover filming revealed that employees working for both O2 and Vodafone allowed the Watchdog Live team to walk out with replacement SIMs almost every time they tried.
