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Fraud & Identity Today Week in Review: Facebook, Google, ACCAN & More

May 06, 2017

Welcome to the week in review, where we take a look at all the top stories making headlines in the mobile fraud space this week.

The week started off with more news on India’s SIM box fraud struggles. New reports suggest that SIM box fraud has been found in several places, including Delhi, Telangana, Madhya Pradesh, and now Noida. At last report, SIM box fraud accounted for over $3 billion a year in losses. It’s easy to see why when you take a look at just how prevalent it is in India alone. SIM box fraud can be incredibly damaging to both individuals and businesses. Find out more HERE.

There was also some surprising news from Facebook and Google this week. We tend to think that tech giants are immune to major hacking operations—they should be too smart to fall for those tricks. Well, we thought wrong because apparently both companies have been conned for years. For two years, both companies were scammed by a man from Lithuania, costing them $100 million. If tech giants can even fall victim to fraud, how are smaller businesses and individuals supposed to stay safe? Find out how to protect yourself HERE.

Speaking of protecting yourself—what exactly should you be looking out for when it comes to mobile fraud? It seems like there are new forms of mobile fraud popping up every single day; it’s almost impossible to keep track. However, subscriber fraud is one of the biggest problems, as it can potentially cost mobile phone companies around $129 million every year. Find out more about this danger HERE.

Another important form of fraud to watch out for is mobile number porting fraud. According to Australian Communications Consumer Action Network(ACCAN), “Fraudulent mobile number porting happens when a scammer uses your personal details to port your mobile number from one provider to another. Scammers can get access to your personal details, such as your date of birth, phone number and address, via your social media profiles.” There are plenty of ramifications that follow, including the total loss of your phone and the draining of your bank account. Fun, right? Find out what to do if this happens to you HERE.

That’s all for this week. Come back next week to read all the latest fraud-related news.

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