The partnership supports regulated sectors including Online Sports Betting and gambling, fintech, banking and enterprise with enhanced onboarding, stronger fraud prevention and improved compliance through a single integration.

SONIO customers gain access to XConnect’s SIM Swap, MPM KYC Match, and Number Verify API services to strengthen network-level identity and fraud signals.

This single integration into SONIO’s Identity as a Service (IDaaS) platform makes rich network data available to SONIO’s enterprise clients without the need to build and maintain separate connections to multiple operators or identity vendors.

“As digital onboarding accelerates and fraud activity becomes more advanced, enterprises require faster, more reliable ways to establish and maintain trust,” said Mark Harvey, chief identity officer, XConnect. “By combining SONIO’s flexible onboarding and compliance workflows with XConnect’s live SIM Swap, MPM KYC Match and Number Verify APIs, enterprises can make stronger decisions that drive trust and minimise integration effort. Our goal is to empower organisations across key geographies and industries with the tools they need to overcome evolving risks and challenges.”

SONIO’s orchestration layer combined with XConnect’s real-time operator data enables enterprises to decrease security and compliance gaps.

They benefit from reduced fraud risk with faster onboarding, fewer call drop-offs, stronger identity assurance, and unified verification workflows under one API call.

For iGaming and gambling clients, XConnect’s MPM KYC Match improves compliance and age verification and addresses bonus abuse and fraud.

“Integrating XConnect’s network-based identity signals into SONIO’s Orchestration Platform gives our customers direct access to trusted mobile network operators’ data within their existing workflows,” said Xhejn Dule, chief sales officer, SONIO. “By working with XConnect, we’re making it easy for highly regulated sectors to take control of their identity strategies and adapt to complex environments. Together, our partnership is helping businesses to combat fraud, boost compliance and keep customer experience simple and seamless.”

XConnect delivers integrated numbering intelligence services and network API capabilities globally and is trusted by carriers, banks, platforms and enterprises.

Its Network APIs deliver critical signals, including SIM Swap detection, Call Forwarding checks, Number Verify and MPM KYC Match, through a single integration, enabling enterprises to consume live network data efficiently and at scale.

The post XConnect–SONIO Alliance to Curtail Gaming Fraud appeared first on Tech | Business | Economy.

To this end, the Commission has cautioned various the consumers to stay on the alert while using products and services across telecom platforms.

Mr. Alkasim Umar, the Director, Consumer Protection and Advocacy Unit, Consumer Affairs Bureau of the Commission, sent the warning during a sensitisation programme in Abakaliki, the Ebonyi State capital.

At the event tagged: ‘Shine Your Eyes-No Fall Mugu’, Umar noted that as part of the strategy to actualise the protection and promotion of the interest of consumers, the department collaborates with Consumer Advocacy Groups and relevant stakeholders to empower telecoms consumers with the knowledge and advocate for their protection within the telecoms industry.

The director, who was represented by Clems Omeife, the Head of Consumer Advocacy and Production Unit of NCC, said the development and deployment of robust infrastructure to support innovative technologies and services have no doubt positively transformed our socio-economic space.

According to him, “As the telecom industry evolves, there is a growing concern over the rising trend of fraud perpetuated on telecom platform (electronic fraud) across key sectors of the Nigerian economy.

“The menace that follows the wide acceptance of new methods of mobile money electronic banking and payment systems has been discovered to cost the country a whopping amount of money.

“Cyber criminals are targeting telecoms networks, interrupting service provision and accessing bank data. Victims are often left with enormous losses from SIM swaps and USSD e-payment frauds.

“The Central Bank of Nigeria (CBN) has identified electronic fraud as the biggest risk to the sector, which has embraced a range of electronic payment solutions, including Automated Teller Machines (ATMs), Nigeria Inter-Bank Settlement System (NIBBS), instant payment as well as mobile banking.

“A lot of people are highly ignorant of how losing their phones to fraudsters can lead to a complete clean-up of their bank accounts. These fraudsters do this by stealing victims’ identities, names, addresses, and bank information, which they use to gain access to their bank accounts.

“They also use the stolen identity to defraud other people and even apply for loans, leaving the victim with debts. It is in view of this and in line with the commission’s consumer-centric posture that the commission in collaboration with relevant advocacy groups embarked on the sensitisation programme tagged: ‘Shine Your Eyes, No Fall Mugu’, across the six geopolitical zones in the country,” he said.

Umar stated that the commission also collaborated with critical stakeholders such as the Central Bank of Nigeria (CBN), the Nigerian Police Force, the Economic and Financial Crimes Commission (EFCC), the Independent Corrupt Practices Commission (ICPC) and other relevant agencies in the fight against e-banking fraudsters.

He further advised telecom consumers to be vigilant and cautious when it comes to financial transactions on the telecom platform as fraud can occur through various channels, including unsolicited text messages, voice calls, emails, and fake mobile applications. (THISDAY)

[Featured Image Credit]

The post NCC Worried over Rising eFrauds in Nigeria’s Telecom Industry appeared first on Tech | Business | Economy.

In this interview, he talked about identity fraud which has increased significantly in recent years, with scammers taking advantage of the growing amount of personal information available on digital platforms to obtain goods or services in the victim’s name.

According to Evina, a French cybersecurity firm with a presence in more than 70 countries worldwide – including 15 in Africa – in a recent report titled State of Mobile Fraud in Africa, shows that professional cybercriminals targeting Africa’s one billion mobile phone users continue to be a significant problem.

The necessary data can be obtained in a variety of ways, ranging from breaches of customer databases to simply analyzing social media profiles. SIM swapping is a particularly sophisticated method that has emerged, in which criminals can trick their way into gaining access to the victim’s SIM card, allowing them to receive calls and SMS messages, leading to disastrous consequences such as account takeovers.

The truth is that identity fraud can suddenly and violently turn your life upside down. In some cases, it can send your credit score plummeting and, depending on the type and extent of the fraud, it can take months and thousands to recover.

According to the District of Jersey United states Attorney’s office, eight Nigerians were indicted in October 2021 on several charges related to conspiring to engage in Internet Scams, the most common of which was aggravated identity theft.

Martin Effiong tells us more about how this scam works, and what telecommunications service providers, PSB’s, Banks and individuals can do to combat it. Excerpt:

TE: Tell us a little bit about what you do for Infobip?

Martin Effiong: Thank you for the opportunity to interact with you about such a crucial subject. I’m Martin Effiong, Senior Operator Partnership Manager in Anglophone West Africa for Infobip. I manage robust engagements with the region’s mobile telecom operators in pursuit of collaborations that allow both of our entities to grow.

In simple terms, we rely on operators for connectivity when they are suppliers to us, and we cater to their business communication needs when they are our customers.

TE: What is SIM swapping? Why does it pose such a security risk to consumers?

Martin Effiong: There are plenty of reasons why you would swap your SIM. Say you’ve lost your phone or bought a new one – but your old SIM card doesn’t fit. Or maybe your SIM card was damaged, or you found a better deal with a new operator. It’s a perfectly legitimate process, but one which sadly many fraudsters are looking to exploit.

So, the abuse of a SIM replacement process for the benefit of individuals or perpetrators who are not the rightful SIM owners, and which usually happens without the knowing or participation of the rightful SIM owner is actually the SIM swap fraud.

On why this is a serious security risk, to acquire access to a brand-new SIM card belonging to a legitimate owner, a SIM swap fraudster uses confidence techniques and internet stalking to mimic someone like me or you to an operator.

They can intercept phone calls, SMS messages, social media accounts, and banking credentials using this method, giving them all the information, they need to develop a victim profile. Fraudsters can then use this profile to take over accounts, transfer money to themselves, and steal not only your life savings, but also your identity, in less than 20 minutes.

TE: To what extent has this threat grown and evolved over the recent years?

Martin Effiong: According to data from the South African Banking Risk and Information Center (SABRIC), SIM swap-related fraud increased by 100 percent in South Africa between 2018 and 2019. In Nigeria, we have some equally frightening statistics, with mobile channel fraud increasing by 330 percent between 2019 and 2020.

This report, published by the Nigeria Inter-Bank Settlement Scheme (NIBSS), demonstrates that it is a global phenomenon, but it is also very damaging to developing world economies due to their heavy reliance on the internet and mobile GSM generated or GSM enabled Internet services.

So, yes, it has grown exponentially as internet and smartphone usage in the region has increased. In most instances, the first lines of defense are a username and password, but they should not be the only ones. Layering your security will help you protect your customers better and, if done correctly, will also improve their overall experience.

TE: What steps should consumers be taking to protect themselves from SIM swapping?

Martin Effiong: The steps outlined here are the standard global best practices for using electronic devices that connect to the internet. Starting with the most general steps and progressing to those tailored to mobile device users.

When using the internet, it is recommended that you be cautious and security aware of what can happen.

When you are on your device, the privacy of your room does not translate to any form of privacy on the internet.

As a result, you must exercise extreme caution in what you do, how you do it, and what information, particularly private information, you post on the internet, particularly on publicly accessible sites or social media applications.

It’s also a good idea to make sure the websites you’re visiting are secure. In terms of SIM swap fraud, make sure your SIM cards have a PIN lock. As a result, whenever your phone is turned off and turned back on, it will request a SIM PIN, or whenever your SIM is removed and re-inserted into your phone, or a new SIM is inserted, it will request a SIM PIN. In this manner, a stolen phone device whose SIM is being Swapped will request a SIM PIN.

Lastly, In the event of the receipt of unsolicited texts or emails about your SIM being ported or a PAC request, or if you unexpectedly lose phone service, contact your telco service support immediately.

The same is true for contacting banks if a fraudster attempts to make an online or phone transfer. However, much of the onus should be placed on the verification services that operators have in place to protect their customers.

TE: Can establishing a global security standard for telco providers reduce this threat?

Martin Effiong: From my perspective, Telcos and enterprises are doing a lot but can still do more to sensitize their customers of the associated risk of mobile-enabled transactions from SIM swaps. They will also do well to implement technology to better protect their customers from these frauds.

Setting a global verification standard to confirm a person’s mobile identity is critical in preventing SIM swap scams, in my opinion.

This standard must be set by telcos, which have all the information required to verify an identity securely and, more importantly, in real time. For example, if a customer called a company with a question, the company could silently authenticate the person in the background using telco information, eliminating the need for the customer to answer a series of onerous security questions.

Simultaneously, if any irregularities are discovered during the frictionless check, the suspicious activity is flagged, and a SIM swapping attempt may be impeded.

This is how the Mobile Identity authentication solution from Infobip works. It can confirm the mobile account activation date by checking for changes to your IMSI (International Mobile Subscriber Identity) number – or, more simply, ‘telecom account data’. If there is no reason to be concerned, authentication will take place silently in the background, without interfering with the user’s experience. If the IMSI number has recently changed, this will be flagged as suspicious activity. The service provider will then contact the user and request additional verification.

TE: What other measures should telcos providers be taking to help protect consumers from this tactic?

Martin Effiong: Due to the negative impact of SIM SWAP fraud on customer experience, it’s understandable that GSM service providers would have to strike a balance between offering very strict security measures on the SIM replacement process to protect their customers from SIM swap fraud and also improving their service’s customer experience. It is about associating security with a positive customer experience and trust. 

Many businesses arelooking for ways to remove friction from customer interactions in order to provide the best possible experience. 

However, some critics believe that removing friction will reduce security and make customers less confident in their interactions with businesses. A smooth approach, however, should not jeopardize security.

At least three real-time identification and authorization services should be included in a strong authentication layer.

At Infobip, this includes silent mobile verification (SMV), account takeover protection (ATP), and SIM Swap. Furthermore, as part of the customer journey, these checks should take place “behind the scenes.”

This is especially significant in light of the Central Bank of Nigeria’s (CBN) recent steps in granting licenses to two telecommunication companies to operate as Payment Service Banks (PSBs). This is after these businesses successfully completed a series of applications and requirements.

This license allows these telcos to complement rather than compete with other banks. One of the key provisions of the PSB license issued by the CBN is safety of funds to the consumers of the Payment Service Banks’ products.

This is where leveraging technology for KYC checks through a strong customer authentication framework comes to play in reducing fraud while increasing authorization rates.

PSBs and Fintechs must implement security measures – consisting of at least two real-time identification and authentication services – when customers make an online purchase to meet KYC requirements.

This enables businesses to verify the customer’s identity as well as the validity of the credit card being used to complete the transaction.

TE: Thank you for your time.

Martin Effiong: You are welcome.

The post [INTERVIEW] Infobip’s Martin Effiong Speaks about SIM Swap Fraud, Recommends Solution, Other Issues appeared first on Tech | Business | Economy.