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April 8 – The Week in Phone Fraud

TWIPF2 This week in phone fraud, sophisticated account takeover scams in the UK and a new report on who is most vulnerable to scams.

This week the Guardian shared the story of account takeover fraud at Nationwide bank in the UK. In this multi-part attack, fraudsters took over the target’s mobile account, registered for mobile banking, and increased overdraft protections all by contacting call centers. Fraudsters monetized the attack using Apple Pay.

Consumer Reports published the results of a new study on Monday that found millennials are the most likely to lose money to a phone scam. 38 percent of millennial men report having lost money to a phone scam, compared to 11 percent of average Americans.




Schneier on Security: Bypassing Phone Security through Social Engineering – Undercover police officers in the UK used social engineering techniques to bypass iPhone security when investigating a terrorist suspect. Police impersonated the suspect’s work manager, asking for proof that he was in the office on a particular day.

The Sidney Morning Herald: Fraudsters rip off $5m from elderly victims using telephone scam – In one case, the scammers netted $600,000. The scam started with a phone call from someone purporting to be the manager of a Rolex store, who said that a youth posing as their nephew had been detained trying to use Albert’s credit card.

No Jitter: Hacking as a Service Part Two: Help is Here – At this point, a caller has been deemed safe enough to be allowed into the system and potentially into the ear of a real human being. Even still, security measures can be applied by listening in on the call to programmatically find anomalies.

The Atlantic: The Long Life (and Slow Death?) of the Prank Phone Call – Advances in technology apparently bring with them new possibilities for playfulness at someone else’s expense. There’s still something to be said for the visceral thrill of trying to fool someone voice to voice, it seems—even if you don’t quite pull it off.

South China Morning Post: Phone scammers pretend to be Hong Kong immigration officers – Bogus immigration officers have duped Hongkongers out of about HK$1 million in the latest round of phone scams as con artists have come up with a new ruse, the Post has learned. About 20 victims fell for the new tactic.

Gizmodo: Do Not Call the Number in This Instagram Ad – Yesterday on my Instagram feed was a sponsored post claiming “Millions of Americans are applying for Obama’s New Student Debt Forgiveness Program” and promising I could qualify in less than five minutes if I tagged a friend and called a toll-free number.

Forbes highlights Deep Voice™ Biometric Engine