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Fraud & Identity Today Week in Review: FASG, Barclays, iconectiv, PACE

By Alicia Young Web Editor

Welcome to the week in review, where we take a look at all the top stories making headlines in the mobile fraud space this week.

This week, some of the best minds in telecom got together in Florida to discuss fraud and network security. The meeting was comprised of the Fraud and Security Group (FASG), which was created by GSMA (News - Alert).  FASG was established to drive the industry’s management of fraud and security matters related to GSM technology, networks and services. iconectiv (News - Alert), which is an authoritative partner of the global communications industry that connects more than two billion people every day, spoke at the event about preserving network integrity and reducing fraud. Find out what the company had to say HERE.

iconectiv continued to make headlines this week when it introduced its new industry white paper,  titled Caller ID: The Impact of Robocalling and Spoofing. iconectiv published the paper because it saw a need to educate people about the issue of spoofing, while also highlighting the various techniques being developed to help alleviate the problem. Spoofing is the illegal practice of manipulating Caller ID to mislead consumers into accepting unwanted calls from live telemarketers of automated pre-recorded messages (robocalls). Everything you need to know is HERE.

In an effort to protect customers from fraudulent activity, Barclays, one of the largest banks in the UK, is offering new controls as part of a nearly $13 million initiative designed to stop mobile fraud.  The company has given customers the power to decide whether or not their cards may make remote purchases simply by turning the ability on and off. Since the misuse of credit cards online by fraudsters is such a common form of fraudulent activity, Barclays’ actions could be a real game changer. Find out more HERE.

Speaking of banks and fraud, Signaling System 7 (SS7) is turning into a real problem. TMC’s (News - Alert) Steve Anderson discusses the dangers of SS7 flaws, citing a recent fraudulent instance in Germany: “SS7 fraud was part of a move to access the two-factor authentication system used in German banking systems. Since the system sends a second code to a device before allowing a user access, the SS7 backend access allowed the hackers in question to not only gain access to the username / password combination, but also the message sent to serve as the second part of the two-factor authentication system.” You can continue reading HERE.

That’s all for this week. Come back next week to read all the latest fraud-related news.