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Nov. 20, 2014 – The Week in Phone Fraud

This week in phone fraud news, Pindrop Security issued an advisory about a “Misdial Trap” scam and the UK has recently seen an increase in the premium-rate line scam.

Pindrop Security issued an advisory to financial institutions and consumers warning of a new scam defrauding nearly 20 percent of financial institutions they sampled. eWEEK reported on the advisory: “In a study of phone numbers for some 600 institutions, the company found close variants used in fraud against 103 organizations, suggesting that attackers had targeted at least 17 percent of financial firms by selecting phone numbers designed to fool customers.”

On Tuesday, The Daily Mail reported on a phone scam that is sweeping the UK. This scam involves a criminal stealing a phone and dialing a premium-rate number to an associate that can then connect several calls from the same phone.

Full Breakdown of This Week’s Phone Fraud News

Credit Union Times: Misdial Scheme Targets Credit Union Members – Nov. 20, 2014

Illawarra Mercury: Scam Warning: ‘Three Hours To Do It, Or Lose The Refund’ – Nov. 20, 2014

ABC News: Beware IRS Impersonators’ Intimidation Scams – Nov. 19, 2014

The Daily Mail: The £3.5Bn Mobile Phone Theft Racket: Beware Crooks Who Run Up Vast Bills Calling Premium Rate Lines on Your Stolen Mobile – Leaving You Counting the Cost – Nov. 18, 2014

eWEEK: Phone Scams Borrow Typosquatting Strategy to Target Bank Customers – Nov. 19, 2014

The Register: Lame Phone Dodgers Fleece Finance’s Foolish and Fat Fingered – Nov. 19, 2014

Atlanta Daily World: Protect Yourself from Holiday Scams – Nov. 18, 2014

Dark Reading: ‘Misdial Trap’ Phone Scam Hits Financial Services – Nov. 18, 2014

Forbes: Top Ten Area Codes Making Spam Calls: Are They Dialing You Up? –  Nov.  18, 2014

The Monitor: IRS Phone Scam Arrives In Lake Area, Demanding Tax Payment – Nov. 16, 2014

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