Protect yourself against number porting fraud

Bradley Prior

Bradley Prior

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Protect yourself against number porting fraud

Online and mobile banking fraud is a huge problem in South Africa, with an estimated R260 million stolen from 23,466 South Africans last year.

Despite increased security measures from banks, there was a 75.3% increase in online and mobile banking fraud in 2018.
 
"If the customer fails to respond within 50 minutes of receiving the port SMS, the default action is that the port is processed."

Smart.
 
Luckily Absa doesn’t rely on SMS verification for online banking transactions, everything is approved within the mobile app.
 
This increase in fraud resulted in ICASA drafting new regulations which include requiring a one-time pin to verify the port.

“We believe that this opt-in process is particularly necessary to protect prepaid subscribers whose only verification on porting is a Caller Line Identity validation,” O’Sullivan said.

Regrettably, she said, these regulations are not yet effective, as one of the operators is challenging this through the courts.
Click to expand...

Which operator is that?
 
Soul Assassin said:
"If the customer fails to respond within 50 minutes of receiving the port SMS, the default action is that the port is processed."

Smart.
Click to expand...
^^ Yea, just mind boggling.

'This increase in fraud resulted in ICASA drafting new regulations which include requiring a one-time pin to verify the port.
We believe that this opt-in process is particularly necessary to protect prepaid subscribers whose only verification on porting is a Caller Line Identity validation,” O’Sullivan said.
Regrettably, she said, these regulations are not yet effective, as one of the operators is challenging this through the courts.'

Why would an operator challenge OTP opt-in verification ?
 
Soul Assassin said:
"If the customer fails to respond within 50 minutes of receiving the port SMS, the default action is that the port is processed."

Smart.
Click to expand...

As far as I know it's part of the prepaid port process and it's part of the regulation to prevent donating networks to unfairly delay the porting process. This has unfortunately opened the door to fraud if your device is off during the critical time of say 3pm to 6pm your number will get ported without you knowing about it.

It's been an issue for ages with seemingly no solution but since the clamp down on sim swap fraud the porting fraud is now escalating.

This is an issue because Nedbank still uses secure message which means any interaction with the bank you just accept the USSD message sent to your phone. Old Mutual and Tyme Bank uses OTP for confirmations.
 
Every time Vodacom is asked a question about fraud or excessive charges, their answer is "our system doesn't allow for that"!
This begs the question, what the hell kind of crap system do they actually have and why the hell is anyone using them?
 
In what world is the default action of security-sensitive process "success".

Ridiculous. Sounds like a process developed for the averaged behind the times South African that won't be able to cope with a 2FA system. At least provide the option for us to opt out of stupid mode.
 
Banks shouldn't be using SMS in the first place.

Smartphones are pretty much common everywhere now so do like FNB and use the banking app for authentication.
 
Does not give enough time and porting should be opt-in rather than opt-out. A sim swap should take at least a week to complete.
 
hello GUYS
i feel we must urge ICASA & the government to implement strict laws keeping MTN // VODACOM// CELL C// TELKOM MOBILE and all other operators responsible for RESPONSIBLE FOR fraudulent sim swaps and fraudulent PORTS

this is so easy to do and a wink of a eye fraud is committed

today my friend lost R3000 because of a fraudulent port

i will be happy to oversee this campaign . any one with me .....
 
harrycpt said:
hello GUYS
i feel we must urge ICASA & the government to implement strict laws keeping MTN // VODACOM// CELL C// TELKOM MOBILE and all other operators responsible for RESPONSIBLE FOR fraudulent sim swaps and fraudulent PORTS

this is so easy to do and a wink of a eye fraud is committed

today my friend lost R3000 because of a fraudulent port

i will be happy to oversee this campaign . any one with me .....
Click to expand...
Nope
 
There is also two parts to this.

Porting is one and the other one is having access to your bank account details.
 
Swa said:
I don't want to find out my number's been stolen. You have other communications options.
Click to expand...

So how do other people who only have your phone number contact you while takes a week for your stolen phones or faulty SIM to be swapped? Telepathy?
 
supersunbird said:
So how do other people who only have your phone number contact you while takes a week for your stolen phones or faulty SIM to be swapped? Telepathy?
Click to expand...
Then at least give us the option. You can still choose to stay insecure with instant swaps.
 
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