The simple fraud questions MTN and Cell C cannot answer

DTBA

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Should telkom not be there as well?


They are not that small.
 

MagicDude4Eva

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And none of those service providers have answered the question on how they curb their internal fraud. Let's not make Vodacom out to be the company which is safe - this thread says pretty much everything on how VC dealt with a fraud issue: https://mybroadband.co.za/vb/showthread.php/878652-Vodacom-sim-swap-fraud-my-personal-experience

We can all agree that SMS should not be used as a primary means of authentication, but we should not forget that a SIM Swop is only possible because fraudsters within a service provider execute the SIM Swop. It is quite a cheap shot then to blame the banks for not using some authentication mechanism to check for a SIM Swop. Had the service provider stopped the SIM Swop in the first place, no money could have been stolen in the first place - just sayin'
 

konfab

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Banks shouldn't be using SMS's for 2 factor authentication.
Cell companies should be implementing biometric security on their sims, so if the person wants to sim-swop they have to go to a branch and get it done.
 

Daruk

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“It is important to note that Internet banking fraud cannot succeed unless the victim has compromised their banking account details and personal information, including their banking PIN or login details.”
Let's not forget out that they can't do it without performing an illegitimate sim swap either. Right? How are you preventing illegitimate sim swaps?
 

Roelie

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My daughter had a scary interaction with FNB. She relocated to Sydney last year (BTW she used to work for FNB) and they found a lost wallet in a picnic area. She saw that it belonged to a South African from the cards in the wallet. She phoned FNB to try and contact the owner, and they had no problem with providing her with his cell number and e-mail address.
Fortunately she is honest and managed to find the guy, but if she was dishonest she could have used the information.
 
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Varis

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Vodacom conveniently does not say that the cellular companies have all the information required to enable internet banking fraud (ie, person's name, address, contact numbers, addresses, ID, banking account details, salary details...) - so no social engineering required ... possibly just a bank contact to provide account balance details and to assist to reset a pin???

A SIM swap enables the fraud, and surely Vodacom (and the other operators) must take responsibility for illegal SIM swaps, rather than hiding behind the 'blame-the-customer' rhetoric.

Are the cellular providers willing to provide details on the number of known cases of 'unapproved' SIM swaps? Or is that not in their customers' interest to know such details?
 

Roelie

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I'm always nervous to do a Rica on a SIM at a place like PEP on similar. I have to give them a copy of my personal information with all my ID and Banking info available, and that person is normally just a low paid shop assistant that could pass the documents on to anybody.
 

K3NS31

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How does this work, saw this once when logging into the app, went back later and couldn't find any info about this.
Doesn't do anything if you're using the phone app, but if you're doing any transactions that would normally use an SMS auth on normal Internet banking or elsewhere, then the app pops up a notification asking you to allow the transaction. Of course it presumes your phone is securely with you, but it's easy enough to disconnect a phone from your account, so I don't think that's a real risk, personally.
 

dunkyd

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Someone please list the reasons for doing a sim swop? ( I'm a bit slow.....)
 

Roelie

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I have the FNB app thing, but it's sometimes annoying that it I sometimes forget to login to the app before I start, and then the app takes too long to log in and I have to redo the transaction. I have an issue with the app at my office that it won't work on the company wifi, I have to use mobile data.
 

supersunbird

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Someone please list the reasons for doing a sim swop? ( I'm a bit slow.....)
Stolen phone. Lost phone. Dead SIM (have had that). Faulty SIM (have had that). Macro SIM doesn't fit device, so need nano sim (have had that, don't get me started, does a micro SIM really take up SOOOOO much space that a smaller for factor had to be brought out?).
 

The_Librarian

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Stolen phone. Lost phone. Dead SIM (have had that). Faulty SIM (have had that). Macro SIM doesn't fit device, so need nano sim (have had that, don't get me started, does a micro SIM really take up SOOOOO much space that a smaller for factor had to be brought out?).
Blame Apple and their iThings for that...
 

The_Librarian

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I have the FNB app thing, but it's sometimes annoying that it I sometimes forget to login to the app before I start, and then the app takes too long to log in and I have to redo the transaction. I have an issue with the app at my office that it won't work on the company wifi, I have to use mobile data.
Firewall at your company may be blocking something...
 

supersunbird

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Stolen phone. Lost phone. Dead SIM (have had that). Faulty SIM (have had that). Macro SIM doesn't fit device, so need nano sim (have had that, don't get me started, does a micro SIM really take up SOOOOO much space that a smaller for factor had to be brought out?).
Oh yes, another one, ex-GF ignoring my calls on a contract SIM, that I'm still paying for, for a whole day and I needed some info urgently, doing a SIM swap the next morning so that that SIM got disabled made her quickly get in touch.
 
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