SIM swap fraud suspect caught: MTN
MTN participated in a SAPS sting operation that has led to the arrest of a suspect said to be a key player in a recent spate of SIM swap fraud, the mobile network said in a press statement issued today (8 May 2013).
A SIM swap lets mobile network operators port a subscriber’s number to a new SIM card when they switch networks, or if it is lost, but fraudsters have also been using it to access online banking accounts.
“MTN’s forensic services team worked closely with the Wierda Brug police in Centurion to track down and arrest an individual linked to the fraudulent SIM swaps of MTN customers and perpetrating further scams nationwide,” the network said.
For the scam to work, a criminal must first get access to a customer’s bank account details including the PIN and passwords.
“MTN is not certain as to how this information is compromised, but understands that it can be done through phishing or when a customer’s personal documents such as ID documents are compromised,” the network said.
Once in possession of these bank details, the fraudster performs a SIM swap and gets possession of the victim’s phone number. Bank notifications, such as random verification numbers and other warning messages meant for the victim, then get sent to the fraudster instead.
“MTN’s forensic team and Centurion’s Wierda Brug police have made great strides in the tracking and monitoring the suspect’s activities,” said Lily Zondo, general manager of business risk at MTN.
Similar to Vodacom, MTN will also be implementing a system to authorise SIM swap by SMS, Zondo said. Unlike Vodacom’s system, however, MTN will wait until a subscriber has confirmed the SMS request to swap SIMs before proceeding.
“This delays the SIM Swap until the legitimate customer has confirmed the request via SMS,” Zondo said.
MTN said it is unable to answer any further details regarding the case as it is now “sub-judice”.
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