Big SMS banking scam exposed

[kissingmybbgoodbye]

http://www.moneyweb.co.za/mw/view/mw/en/page292518?oid=304940&sn=2009 Detail&pid=287226

SMS banking is not safe. The Citizen learns that the security chain between the bank and the phone user has been breached.

Two members of a sophisticated alleged SMS banking fraud syndicate were arrested by Johannesburg Commercial crime police on Thursday and Friday respectively.

 

[The_Unbeliever]

Glad my account is safe. There's not enough money in it to warrant their attention

Makes one very upset...

Should be interesting to see what measures the banks and cellphone companies will put in with this sort of thing.

Can a Vodacom SMS center delay SMSes going to a CellC user?

"We asked the engineer how much he earned by doing this scam, and he said over R2,4 million," Mokonyane said.

What will that Vodacom employee do if he lost all his hard-earned money PLUS he lose his job at Vodacom, and is unable to get a job?

But what the hey, this is South Africa, he'll probably get a better job and scam more people...

Problem is - now that people know that it has been done, they will try to bribe more inside people at Voda/MTN/CellC to do the same thing.