All posts by Nicole Tuckwell

Fraud & Security Are Your Fraud Alert Replies Being Spoofed?

SMS screen with fake response to bank inquiry
Mar012017

As banks try to improve customer experience, reduce fraud and cut operational costs through interactive SMS, criminals have moved in to take advantage of the channel. The latest fraud scam involves ‘spoofing’ CLI (calling line identity) numbers to respond to SMS fraud alerts intended for customers. “Spoofing” SMS or texts might seem like something teenagers would do, perhaps sending fake texts on Valentine’s Day appearing to be from someone else. Instead, what’s happening is more sinister. If a credit/debit card transaction is deemed as suspicious, banks can alert customers through SMS, as well as through automated voice, mobile application push notifications and emails. If the transaction is genuine, the customer simply needs to respond to the SMS to confirm this, without actually having to speak to an operator in a call centre. What the fraudsters are doing is making a fraudulent transaction using a compromised card and then successfully ‘spoofing’... [Read More]

Leave a comment