This week the BBC broadcast a story on a phone scam that cost a London woman £12,000. Her son, who had been worried about such incidents, had installed software on her phone to record calls. BBC reporters use these recordings to break down the techniques behind the sophisticated scam.
This month’s issue of Georgia Tech’s Research Horizons magazine featured a story on the ways researchers are expanding their arsenal of security innovations. The piece highlighted the voice channel as a new landscape for cybercrime, and examined the ways criminals are working across channels to hide fraudulent activity.
Full Breakdown of This Week’s Phone Fraud News
AOL: Scamwatch: new banking fraud – Fraudsters have hit upon a new way to convince potential victims that they are being contacted by their banks: number “spoofing”, which allows the thieves to set up calls so that they appear to be from legitimate bank phone numbers.
Atlanta Journal Constitution: Protect yourself against phone scams – Right now, professional criminal gangs are devising complex strategies to steal identities and take over bank and credit card accounts. These techniques are often so subtle, we don’t realize we are giving away information that could lead to identity theft.
Emirates 24/7: UAE businessman loses Dh27,000 in imaginary coffin fraud – An Emirati honey merchant, who thoughtlessly acted with chivalry, was conned into paying Dh27,400 following a fraudulent phone call from a fraudster requesting help to ship an imaginary coffin from Europe to the UAE.
CBS News: Swatting prank terrorizes Wisconsin dad, no joke to cops – A Wisconsin dad enjoying a CBS crime show on television suddenly found himself in a real police drama when law enforcement swarmed his apartment complex in Hudson on Saturday night, reports CBS Minneapolis.
Georgia Tech Research Horizons: Preventing the Click Up – “Telephony used to be a closed and trusted system, but with the rise of technologies like VOIP, telephony and Internet systems have converged,” pointed out Mustaque Ahamad. “As a result, threats that we’ve been dealing with on the Internet are now in telephony.”
BBC: Suspect arrested after phone scam broadcast by the BBC – Detectives investigating a suspected telephone fraud – a recording of which was broadcast by BBC News on Saturday – have made an arrest. The victim, 65-year-old Nargess Sadjady, told the BBC that she was tricked into transferring £12,000 from her bank account.
Pindrop Security: EMV Transition, What Credit Card Call Centers Can Expect – In this webcast, Matt Garland, Pindrop Security’s VP of Research, will break down the types of call center attacks credit card issuers can expect to see increasing after the EMV transition. Find out what techniques criminals will use to steal your customers’ identities.
WFMY News 2: Fraud Can Start With A Silent Phone Call – Your number is just one of thousands a fraudster loads into computer. Their goal is to build a list of humans to target. So they start robo-calling. If you answer, they know the number belongs to a real person.
BBC: Caught on tape: How phone scammers tricked a victim out of £12,000 – These scams are so sophisticated that people genuinely end up believing it is the bank, even though they know, potentially, that it doesn’t sound quite right, said Tony Black, a senior fraud prevention officer with FFAUK.
EJI Insight: Police SMS alert on phone fraud mistaken for scam – A police warning against telephone fraud went out in text messages Friday but some expat recipients mistook them for a scam. The confusion came as some victims were still smarting from telephone scams involving fraudsters posing as mainland police.