Cyber Alert
Since October 2023, Iranian actors have used brute force, such as password spraying, and multi-factor authentication (MFA) ‘push bombing’ to compromise user accounts and obtain access to organizations. The actors frequently modified MFA registrations, enabling persistent access.
Telecom Fraud
The Global Leadership Forum (GLF) Fraud Report 2024 reveals significant strides in the telecom industry’s fight against fraud, highlighting that nearly 64% of carriers have made fraud prevention their top priority, up from 39% in 2023.
Fraud Regulation
Telecom fraud remains a significant global threat, affecting consumers, businesses, and the integrity of communication networks. Despite the widespread impact, governments, law enforcement, regulators, and telecom operators are not addressing the issue with sufficient urgency.
Ofcom has already secured better protections from UK-based video-sharing platforms, including OnlyFans and other adult sites introducing age verification; BitChute improving its content moderation and user reporting; and Twitch introducing measures to stop children seeing harmful videos.
The Global Leadership Forum (GLF) Fraud Report 2024 reveals significant strides in the telecom industry’s fight against fraud, highlighting that nearly 64% of carriers have made fraud prevention their top priority, up from 39% in 2023.
Telecom fraud remains a significant global threat, affecting consumers, businesses, and the integrity of communication networks. Despite the widespread impact, governments, law enforcement, regulators, and telecom operators are not addressing the issue with sufficient urgency.
Alarmingly, the abuse of Global Titles is widespread, affecting individuals and corporations alike across the globe. Countries with less stringent regulatory frameworks are particularly vulnerable, with documented cases of SS7 exploitation.
Telecom Fraud News
Fraud continues to rise globally, with cybercriminals exploiting the rapid growth of digital transactions. TransUnion’s 2024 State of Omnichannel Fraud Report highlights alarming trends in identity theft and synthetic identity fraud, driven by increasing digital transaction volumes.
In a report titled “How TV Watches Us: Commercial Surveillance in the Streaming Era,” the Center for Digital Democracy (CDD) spotlighted a massive data-driven surveillance apparatus that ensnares the public through modern television sets.
Alarmingly, the abuse of Global Titles is widespread, affecting individuals and corporations alike across the globe. Countries with less stringent regulatory frameworks are particularly vulnerable, with documented cases of SS7 exploitation.
Australians reported more than 601,000 scams in 2023 — a record number and an increase of 18.5 per cent on the previous year, costing victims $2.74 billion, according to the Australian Competition and Consumer Commission.
"Scam calls and texts are a major source of fraud, and they represent a clear and present danger to every phone user. Criminals are becoming increasingly sophisticated, and it’s easy to be caught out by a scam. We’re constantly working with phone companies and other organisations on
The U.S. Department of Justice (DoJ) has announced arrests and charges against several individuals and entities in connection with allegedly manipulating digital asset markets as part of a widespread fraud operation.
A large-scale fraud campaign leveraged fake trading apps published on the Apple App Store and Google Play Store, as well as phishing sites, to defraud victims, per findings from Group-IB.
SMS fraud, phishing, and voice number spoofing have emerged as significant threats in South Africa, severely impacting consumers and businesses.
Foreign operators using routes provided by local South African operators and foreign based transit operators at rates below the minimum of R1.40 per minute are being implicated in a network of international grey and illegal routing.
Voice fraud—including practices such as International Revenue Share Fraud (IRSF), False Answer Supervision (FAS), mail boxing, SIM farms, and Inbound International Traffic Refilling (ITR)
SIM boxes are allegedly used by criminals to commit large-scale SMS phishing attacks known as 'smishing'. Smishing is a malicious attack that uses deceptive text messages to deceive victims into downloading malware or sharing personal information.