Mobile users vulnerable to port-out fraud

With cyber threats constantly on the rise, consumers have become accustomed to being mindful of account information, passwords, and potential identify theft or phishing schemes on computers, but mobile phones are vulnerable to attack and the risk is growing. According to Krebs on Security, mobile providers including T-Mobile, AT&T, Sprint, and Verizon all offer tips […]

With cyber threats constantly on the rise, consumers have become accustomed to being mindful of account information, passwords, and potential identify theft or phishing schemes on computers, but mobile phones are vulnerable to attack and the risk is growing.

According to Krebs on Security, mobile providers including T-Mobile, AT&T, Sprint, and Verizon all offer tips for minimizing the risk of identity thieves “porting” cell phones, which leaves victims vulnerable.

“Porting a number to a new provider shuts off the phone of the original user, and forwards all calls to the new device. Once in control of the mobile number, thieves can request any second factor that is sent to the newly activated device, such as a one-time code sent via text message or or an automated call that reads the one-time code aloud,” Krebs explained.

Read the full article here.

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The League of Southeastern Credit Unions & Affiliates represents 342 credit unions in Alabama, Florida and Georgia, with a combined total of $118.63 billion in assets and more than 10.1 million members. LSCU & Affiliates provides legislative and regulatory advocacy; education and training; cooperative initiatives (including financial education outreach); public messaging; information services; and business solutions.

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