Fraud & Identity Fraud & Identity


Fraud & Identity Featured Article

July 22, 2017

Fraud & Identity Today Week in Review: Kount, Nok Nok Labs, Reserve Bank of India

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 an overview of a new report from Kount. The Mobile Payments & Fraud Survey 2017 was based on surveys of 800 merchants and found that merchants are becoming more confident about the value and security offered by mobile payment solutions. However, merchants have still been slow to adopt mobile wallet technology. Find out why HERE.


Next up, the Reserve Bank of India has provided guidelines on how to react when they notice unauthorized transactions on their financial statements. In a time when online and mobile hacks occur on a daily basis, these guidelines should prove to be more than useful. TMC’s Paula Bernier goes through all of the suggested precautions HERE.

Meanwhile, Nok Nok Labs made some moves of its own in the security space. The company, which is an innovator in the modern authentication space and a founding member of the Fast Identity Online (FIDO) Alliance, recently announced that it has raised $8 million in Series D financing. The funding round was led by Motorola Solutions Venture Capital, and all existing NNL investors participated in the financing. Everything you need to know is HERE.

Finally, the week rounded out with a look at the growing SIM swap fraud problem. The U.S. Fair Trade Commission reports that there were 2,658 incidents of SIM swap identity fraud in January of last year. Fraudsters have several ways to get ahold of victims’ phones and SIMs, and Paula Bernier goes over all of these methods HERE.

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



Article comments powered by Disqus






Industry Insights

(MobileID) Proactive Fraud Prevention

Interconnect-related fraud such as International Revenue Share Fraud (IRSF) and PBX hacking fraud continue to be a billion dollar problem to the telecom industry.

(Defender Shield) Defense solutions for the modern SMS ecosystem

SMS is a ubiquitous communication method for person-to-person (P2P) text messaging, which has been in use globally for nearly 20 years.

(Defender Shield) Preventing Grey Routes and the Multi-billion dollar Threat

The convenience of mobile messaging has brought communication efficiency to billions of consumers worldwide. As is often the case with widely accepted technologies; however, convenience can provide a vulnerable gateway to fraudulent activity.

Product Documents

Asset Protect

While unlimited or high-volume voice and SMS plans offer great value to subscribers, sometimes fraudsters exploit these plans to avoid paying termination and interconnect fees.

Defender Shield

In a world with ever-increasing Application-to-Person (A2P) messaging needs and competition, improving customer satisfaction and eliminating revenue leakage is key for protecting SMS profits.

MobileID

Accurate and cost-efficient routing of voice calls and SMS is critical. Unfortunately, gathering reliable routing data on ported numbers and keeping up with constant changes in number plans is expensive and time-consuming.

Fraud Solutions

Communications fraud is a $20B annual global problem and growing. Companies are looking for peace of mind so that their business and their customers are protected from the onslaught of technology crime that is damaging their reputations and their balance sheets.