• About Us
  • Archives
  • SWG Registration
Samrack Media
Mahiga Homes
  • Home
  • ALL NEWS
  • Diaspora
  • Africa
    • AFRICA
    • KENYA
  • BUSINESS
    • BUSINESS
    • INVESTMENTS
    • REAL ESTATE
    • TECHNOLOGY
  • Politics
  • Health
    • HEALTH
    • EDUCATION
  • Religion
  • People
    • PEOPLE
    • LIFESTYLE
    • RELATIONSHIPS
  • Obituaries
  • Videos
  • Events
No Result
View All Result
  • Home
  • ALL NEWS
  • Diaspora
  • Africa
    • AFRICA
    • KENYA
  • BUSINESS
    • BUSINESS
    • INVESTMENTS
    • REAL ESTATE
    • TECHNOLOGY
  • Politics
  • Health
    • HEALTH
    • EDUCATION
  • Religion
  • People
    • PEOPLE
    • LIFESTYLE
    • RELATIONSHIPS
  • Obituaries
  • Videos
  • Events
No Result
View All Result
Samrack Media
No Result
View All Result

Cybersecurity firm Kaspersky raises flag on SIM fraud

samrack by samrack
May 8, 2019
in Africa, Business, Diaspora, Kenya, Kenya Diaspora News, News
A A
0
Cybersecurity firm Kaspersky raises flag on SIM fraud
Share this
FacebookTwitterPinterestEmailWhatsAppLinkedIn
A man places a sim card on his phone taken on July 15 2011.PHOTO | PHOEBE OKALL

Cybersecurity firm Kaspersky raises flag on SIM fraud

Global cybersecurity company Kaspersky Lab has issued an alert over fresh wave of attacks targeting financial and online services.

Mr Fabio Assolini, a senior security researcher at Kaspersky Lab, said African consumers were on average losing Sh302,912.50 through rising SIM swap fraud.

“While payment methods through mobiles offer a convenience that is hard to debate, Kaspersky Lab research shows that mobile payments and the banking system are suffering a wave of attack — mostly powered by SIM swap fraud — and people are losing their money as a result,” said the firm in a statement.

“This type of attack is used to not only steal credentials and capture one-time passwords (OTPs) sent via an SMS, but also to cause financial damage to victims, resetting the accounts on financial services, allowing to the fraudsters access to currency accounts not only in banks but also in fintechs and credit unions.”

A SIM swap fraud happens when someone convinces a telecoms operator to switch a phone number over to a SIM card that a criminal possesses.

Kaspersky said that in some cases, there are carrier’s employees working together with criminals.

Criminals

Kenya, a world leader in mobile has recently seen bank and sacco workers arraigned for conspiring with criminals.

Kaspersky said that by diverting a customer’s incoming SMS messages, scammers can easily complete the text-based two-factor authentication checks that protect customers’ most sensitive accounts in financial services, social networks, webmail services and instant messengers.

Mr Assolini said that fraudsters are also using it as a way to steal money using WhatsApp, loading the messages in a new phone, contacting the victim’s friends asking for money, simulating an emergency situation.

“Despite financial inclusion services prospering, the flip side to this is that it opens up a world of opportunities to cybercriminals and fraudsters who are using the convenience a mobile phone offers to exploit and poke holes in a two-factor authentication processes,” he said.

“On average fraudsters can steal $2,500 (about Sh252,427.09) to $3,000 (Sh302,912.50) per victim, while the cost to perform the SIM swap starts from $10 to $40,” said Mr Assolini.

Last September, the Communications Authority of Kenya (CA) moved to pile pressure and personal liability on SIM vendors in a bid to stem the resurgence of criminal rackets involving swapping of SIM cards to steal cash from mobile subscribers.

Source:https://www.nation.co.ke/

 

Previous Post

Memorial Service for the Late Charles Mureithi Kahiga of Fredrick, Maryland: May 11th, 2019

Next Post

Memorial Service May 12 at 4Pm for the late Margaret Mweru sister to Teresia Njuguna sister in law to Rev Samuel Mbugua of Emmanuel House of Prayer Lowell,Massachusetts

Related Posts

Diaspora:How KEMEN  President, Anthony Kamnao “Cheated Death” after a gruesome accident
Diaspora

Diaspora:How KEMEN President, Anthony Kamnao “Cheated Death” after a gruesome accident

February 3, 2023
Death Announcement Of Eric Gakure of Worcester MA
Diaspora

Death Announcement Of Eric Gakure of Worcester MA

January 31, 2023
Ruto didn’t win August 2022 election, should resign – Raila
Kenya

Ruto didn’t win August 2022 election, should resign – Raila

January 28, 2023
Peter Francis Muhia Ndungu Of Brockton Massachusetts
Diaspora

Death Announcement of Peter Francis Muhia Ndungu Of Brockton Massachusetts

January 28, 2023
Diaspora

Canadian Embassy Wades into Kenyan-Canadian Nurse Lucy Njeri’s Alleged Murder Plot

January 26, 2023
US Man Involved in a $250 Million Fraud Scheme to Forfeit Properties He Acquired in Kenya
Business

US Man Involved in a $250 Million Fraud Scheme to Forfeit Properties He Acquired in Kenya

January 26, 2023
Next Post
Memorial Service May 12 at 4Pm  for the late Margaret Mweru sister to Teresia Njuguna sister in law to Rev Samuel Mbugua of Emmanuel House of Prayer Lowell,Massachusetts

Memorial Service May 12 at 4Pm for the late Margaret Mweru sister to Teresia Njuguna sister in law to Rev Samuel Mbugua of Emmanuel House of Prayer Lowell,Massachusetts

Please login to join discussion
ADVERTISEMENT
ADVERTISEMENT
Royal Gardens Ngong Royal Gardens Ngong Royal Gardens Ngong
ADVERTISEMENT
KIBS VILLA HOMES:(ABNB) Relax into Luxury: Monthly ABNB rates are negotiable Call:508-479-1517 / 254714428680 KIBS VILLA HOMES:(ABNB) Relax into Luxury: Monthly ABNB rates are negotiable Call:508-479-1517 / 254714428680 KIBS VILLA HOMES:(ABNB) Relax into Luxury: Monthly ABNB rates are negotiable Call:508-479-1517 / 254714428680
ADVERTISEMENT

Latest News

Diaspora:How KEMEN President, Anthony Kamnao “Cheated Death” after a gruesome accident

Death Announcement Of Eric Gakure of Worcester MA

Ruto didn’t win August 2022 election, should resign – Raila

Death Announcement of Peter Francis Muhia Ndungu Of Brockton Massachusetts

Canadian Embassy Wades into Kenyan-Canadian Nurse Lucy Njeri’s Alleged Murder Plot

US Man Involved in a $250 Million Fraud Scheme to Forfeit Properties He Acquired in Kenya

Mizizi Africa Homes diversifies into land selling with ‘Buy, We Build’ Concept

Equity Bank’s Wings to Fly Scholarship selection process commences

Transition/Death Announcement of Christine Ntagengwa of Attleboro,Massachusetts

Women of Hope: Valentines Dinner: $70 P/Person 11 Feb 2023 Guest Speaker:Rev.Dr.G.G Gitahi Time 7PM EST

We are grateful for your monthly or one-off donations To Samrack Media: Cash App No: 781-888-8770 $SAMRACK001

Money

New Digital Skills Helps Unemployed Kenyan Youth Earn In Cryptocurrency

New Digital Skills Helps Unemployed Kenyan Youth Earn In Cryptocurrency

by samrack
November 19, 2021
0

New Digital Skills Helps Unemployed Kenyan Youth Earn In Cryptocurrency This week sees the launch of a new initiative to equip...

A simple guide to Government Bonds investing in Kenya

A simple guide to Government Bonds investing in Kenya

by samrack
September 17, 2021
0

A simple guide to Government Bonds investing in Kenya A treasury bond (T-bond) is a medium term to long term...

Politics

Ruto didn’t win August 2022 election, should resign – Raila

Ruto didn’t win August 2022 election, should resign – Raila

by samrack
January 28, 2023
0

Ruto didn't win August 2022 election, should resign - Raila According to Raila, Ruto did not win the August 9...

NEW SCARY DEVELOPMENTS IN KENYA

NEW SCARY DEVELOPMENTS IN KENYA

by samrack
January 21, 2023
0

NEW SCARY DEVELOPMENTS IN KENYA Will Martha Karua's case at the East African Court of Appeal, the new Ruto's revelation...

  • About Us
  • Archives
  • SWG Registration

© 2023 SAMRACK - Diaspora News & Updates; design by: Samrack.

No Result
View All Result
  • Home
  • ALL NEWS
  • Diaspora
  • Africa
    • AFRICA
    • KENYA
  • BUSINESS
    • BUSINESS
    • INVESTMENTS
    • REAL ESTATE
    • TECHNOLOGY
  • Politics
  • Health
    • HEALTH
    • EDUCATION
  • Religion
  • People
    • PEOPLE
    • LIFESTYLE
    • RELATIONSHIPS
  • Obituaries
  • Videos
  • Events

© 2023 SAMRACK - Diaspora News & Updates; design by: Samrack.

Page generated in 1.030 seconds. Stats plugin by www.blog.ca