Event Venue and Description – Webinar

A March 2020 Europol press release detailed recent global cybercriminal operations which weaponized SIM swapping attacks to commit hundreds of fraudulent withdrawals from victims’ bank accounts resulting in millions of euros in financial losses.

Furthermore, a recent Telegraph UK article documented a twenty-fold increase in SIM swapping victims and losses of millions of pounds for bank customers over several years.

Often, these account takeovers (ATOs) are perpetrated through compromised two-factor authentication methods including SMS OTP – generally accomplished through social engineering, malware, or SS7 hacks. While the overall chain of events of these cybercrimes are straightforward and rudimentary in nature, the effects are devastating and costly.

The combination of a simple criminal playbook, an unlimited global victim pool, and the immense financial gain make this a paradigm shift for cybercriminals.

This webinar, in partnership with Boku, will detail how financial institutions can take the fight back to the criminals to deter this underreported but worryingly lucrative strategy.

During this webinar the following areas will be covered:

• The evolution of two-factor authentication methods and SMS OTP
• SIM swap techniques used by cybercriminals and effects
• Best practices to protect financial institution data and customers’ accounts from SIM swaps
• Moving forward together: how financial institutions, mobile network operators, solution providers, and governments are working together

For further information and details of how to register, please follow the link provided.