Sky (Sky Broadband) today announced the implementation news‘s Fraud Protection Services (FPS) on their Sky Mobile service, which will introduce additional security measures to help protect customers carrying out financial transactions on their mobile device.
The FPS service is designed to protect against SIM swap fraud (aka – SIM Splitting, SIM Jacking, SIM Hijacking and Port-Out Scamming) and enable Secure Customer Authentication (SCA). As part of this, it will also detect associated signs of call diversion fraud (aka – call transfer fraud) and can instantly confirm a customer’s identity using the Know Your Customer (KYC) system. by JT.
In SIM Swap Fraud, a criminal will obtain his victim’s personal information (name, bank details, address, etc.) by browsing social networks or past data breaches, which is then used to contact the victim’s mobile operator , while pretending to be the victim, in order to request a SIM card swap and a change in personal settings.
Once the criminal ‘possesses‘ your number, they can intercept sensitive financial and authentication messages, which can then be exploited to gain access to your bank accounts, etc. Unfortunately, the first problem the victim often experiences is when their mobile phone stops working, which customers might initially blame on a signal/network issue.
The FPS system works to prevent this. Once triggered by the bank, JT’s system, in conjunction with Sky Mobile, will perform a transparent background check to check if the SIM card has been swapped on the customer’s phone, a key indicator of potential fraud, and the prevent theft of customers’ identities. . The service is already widely used by banks and businesses in the UK and around the world.
Paul Sweeney, CEO of Sky Mobile, said:
“With SIM swapping fraud on the rise, it is important to us that Sky Mobile customers are protected, which is why we have partnered with JT FPS to provide them with an extra level of protection and peace of mind. of mind.”
Additionally, JT Fraud Protection Services Manager Clare Messenger noted that SIM card swapping fraud is currently on the rise and on average a customer loses £2,500 when a successful fraud is carried out. “What’s different with JT’s FPS platform is that it eliminates the complexity of using multiple agreements with mobile operators to create a single system to quickly verify transactions.“Claire said.