Trusteer’s CTO Amit Klein on Trusteer research that has discovered two online banking fraud schemes designed to defeat one time password (OTP) authorization. In these scams the criminals steal the actual mobile device SIM (subscriber identity module) card to execute fraudulent transactions. Since accounts protected by OTP systems typically have higher transfer limits and are less scrutinizes, they are more lucrative which is why criminals are willing to go to great lengths to gain access to them.
- AMIT KLEIN, CTO TRUSTEER
- InfoSecurity
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