GoResponse Telephone Answering Service Staff

Consumers need to be aware of mobile banking fraud

Depositphotos_94661158_m-2015Over the past few years, an increasing number of call centres and companies have developed mobile apps for their consumers to use. In many cases, these apps provide a host of self-service options that enable people to serve themselves instead of spending time calling telephone answering services. However, a new method of fraud known as SIM swapping is on the rise, and consumers need to be informed and vigilant.

The safety around personal banking has been making headlines for many months now, particularly in the aftermath of the Tesco Bank breach that saw money stolen from the accounts of around 9,000 people.

Talking about the worrying rise in the latest trend, Aspect’s Senior Director of Customer Strategy and Innovation, Keiron Dalton, explained: “SIM Swap fraud occurs when a criminal registers an existing phone number of a victim on a new SIM card by impersonating the victim to the mobile phone provider. Once activated, a criminal will receive all the calls and SMS notifications sent to the victim’s mobile number and can deactivate the original SIM card in the process.” Dalton added that once criminals have gained control, they can bypass safety procedures and steal a lot of money.

Consumers need to be on the lookout for a number of signs to prevent a SIM swap. Criminals need to know banking details to change SIM details, so people need to be aware of suspicious communications and phishing messages. Thieves will also flood a person’s phone with nuisance messages and calls in a bid to get the device turned off, and there may also be extended periods where the signal is lost. Knowing these signs can help prevent fraud and keep consumers and brand’s reputations safe.


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