May 17, 2019 IBOMLLC Team

Woman defrauded Mobile Money balance by Hackers through Social Engineering attacks

Innov8tiv
Innov8tiv – Blacks In Technology in USA, UK, Caribbean Islands & Africa

May 9, cybersecurity firm Kaspersky Lab issued a warning to Kenyan consumers over increasing incidences of hackers swapping SIM cards. More on that, here. There are allegations that some of these hackers and fraudster could be employees from the telecommunication companies or are collaborating with them.

As it works out, a subscriber may get a call from someone purporting to be a customer service agent from the telecom company. They will then proceed to ask questions about the subscriber’s identity and mobile money wallet activities.

Armed with that information, the hacker can simply do a SIM card swipe from a different location. All the while the real subscriber loses cellular network signal on their phone since their line is now active in a different device at a different location.

That should be the first tell-tale sign that one has been hacked. Except it is not easy to establish if your line has been swapped or not. The lack of cellular network signal by itself does not necessarily warrant you to think your line has been swapped. Your phone can lose signal when you walk through …read more

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