High Risk Holdings Blog

Cybercriminals Hijack Phone Numbers: Why Fraud Protection is More Important Than Ever

Posted by High Risk Holdings Contact on Sep 5, 2017 10:00:00 AM
PYMNTS.com recently revealed some terrifying news. It's been proven that cyber criminals are able to hack into phone numbers with only a few easy steps and therefore, have access to our whole lives.
mobile hijack fraud
PYMNTS.com explained that these hackers only have to reach out a victim's telephone service provider and request a switch of the phone number to a new phone. Once this has happened, the thief will receive all incoming messages and phone calls. This is where the problem lies. Since countless smart phone users provide their phone number as a security back up for their accounts, the thief is now able to enter on these websites by providing the code sent to the victim's phone number.
This intrusion grants cyber criminals access to bank account numbers, credit card details, addresses, and anything else they would need to take what they want from the victim. Which equips these thieves the power to make electronic payments or transfers from the victim's accounts.
The worse part is that these occurrences are growing. According to PYMNTS.com, the number of reported incidents has grown by 1,620 over the past 3 years.
With our cyber criminals becoming savvier by the day, it is time to take steps to prevent this from happening to your e-commerce business. High Risk Holdings offers solutions for your global electronic payments risk-free. We provide risk management and fraud protection services to keep your customers and business safe from these cyber criminals. Sleep soundly knowing that your shopping cart, billing services, and payment gateways are secure.
 
 
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Topics: Ecommerce, online, Business, payment, mobile

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