Scams involving phone porting and SIM cards are something to be aware of

Scams involving phone porting and SIM cards are something to be aware of

“At 5:55pm, I got a text message from my telco. It said, ‘Hi, received your port out request for this service,’” he says.

In April 2018, Stefan Trueck was driving home from the supermarket when he got a strange message on his phone.

“By the time I tried to call them, my phone already went to SOS only. Before I could even react, my number was gone.”

As it turned out, Stefan, a professor of business analytics at Macquarie Business School, was being scammed. Within an hour, criminals had reset his banking password and accessed his accounts.

“They had my customer ID , and you can do a password reset if you have the customer ID and mobile number,” he explains.

“It was really professional. I had daily limit of $10,000, so they sent $10,000. They bypassed that limit by opening another account inside my account, which you can do online, and then they transferred another $10,000.”

Thankfully, Stefan quickly notified his bank and the transactions were reversed.

But the experience left a lasting impact. With the help of Macquarie University and the Ecstra Foundation, Professor Trueck set up SIMProtect, a series of online resources to help people avoid the scam.

“For me, it was relatively harmless. But they could have taken out a loan in my name, they could have reset all my passwords, they could have accessed my email accounts. So much harm can be done.” How scammers are adapting to new laws

Since Stefan was targeted in 2018, it’s become harder for scammers to port phone numbers to new providers. “If I want to change providers, before the standard was put in place, I just had to give my name, my date of birth and my address,” says Fiona Cameron, chair of ACMA’s Scam Telecommunications Action Taskforce.

“We put a standard that said that’s not enough. “Now if I want to change my number, they will send me a four-digit PIN code, that will prove I have the device in my hand. It’s upped the ante on the security that’s required for changing telcos.”

Crypto scam on Instagram A young man wearing a jumper looks at an iPhone.

Jonathan was sucked in by a scam on Instagram promising easy riches. It ended up costing him and his friends more than $20,000. It’s made it more difficult for scammers to transfer numbers to new providers, but they’ve found a new way to achieve a similar outcome.

Disclaimer: If you need to edit or update this news from compsmag then kindly contact us Learn more

For Latest News Follow us on Google News


Latest Headlines
  • Show all
  • Trending News
  • Popular By week
Recap of the Surface Event & More
Recap of the Surface Event & More
We recapped the week’s Surface news and talked about our hands-on impressions of the Surface Laptop Studio and the new Surface Duo 2. We also answered your ...
Comment: Here’s why the Apple Watch Series 7 is still a notable upgrade for many users
Comment: Here’s why the Apple Watch Series 7 is still a notable upgrade for many users
But during the “California Streaming” event, we discovered that the Apple Watch Series 7 is not at all like the rumors suggested, which led to disappointment ...
On Sunday, six teams looking to stay unbeaten
On Sunday, six teams looking to stay unbeaten
The San Francisco 49ers are hoping to join five other teams at 3-0 as Week 3 of the NFL season winds down. Seven teams entered their third week unbeaten and ...
China’s ban on encryption makes perfect sense
China’s ban on encryption makes perfect sense
As Tether’s counterparty risk expands across the fiat and crypto systems, it says it is now fully backed by sufficiently liquid fiat reserves. However, the ...
COVID-19: UK Records 58 Other Coronavirus-Related Deaths – With 15% Increase in Infections in One Week |  UK News
COVID-19: UK Records 58 Other Coronavirus-Related Deaths – With 15% Increase in Infections in One Week | UK News
A further 46,517 people received their second dose, taking the total of fully vaccinated people in the country to 44,739,473. Meanwhile, another 22,540 people ...
Silicon Valley’s strength highlighted in Apple Cupertino mega office deal
Silicon Valley’s strength highlighted in Apple Cupertino mega office deal
The tech titan has paid $450 million to scoop up five office buildings that Apple had been leasing in Cupertino, according to documents filed on Sept. 24 ...
New Cooking Mobile Game, Chef Squad, is Now Available on Android
New Cooking Mobile Game, Chef Squad, is Now Available on Android
The developers have also promised players that Chef Squad will provide them with the same pleasure as cooking in real life. Chef Squad is a brand new ...
How and When Germany Will Erect a New Government
How and When Germany Will Erect a New Government
WHAT HAPPENS NEXT? Germany’s voters have delivered their verdict. Now it’s up to party leaders to thrash out who will succeed Chancellor Angela Merkel after ...
FOR QUIETCOMFORT EARBUDS, BOSE RELEASES SOFTWARE UPDATE
FOR QUIETCOMFORT EARBUDS, BOSE RELEASES SOFTWARE UPDATE
It combines the power of Bose AWARE Mode with revolutionary ActiveSenseTM technology to allow the world to be heard clearly and naturally—reducing noisy ...
Vigil Marks 44 Lives Lost for COVID in Brown County |  News, Sports, Jobs
Vigil Marks 44 Lives Lost for COVID in Brown County | News, Sports, Jobs
The vigil also honored all Minnesota lives lost to COVID with a poster board. The board contained a small drawing of a candle to represent every COVID death in ...
Show next
Compsmag - Latest News from tech, business and health
Logo